Mackstone Ltd

CLIENT  MONEY HANDLING FACT SHEET

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As a member of UKALA,  Mackstone Ltd are required to handle client money in accordance with Appendix iii(4) of the UKALA scheme rules, and with the UKALA Accounting Standard, which assists members’ compliance with industry best practice for holding and accounting for client’s money. Links to these documents can be found at the end of this factsheet.

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We are required by law to have our client money handling procedures published on our business website. 

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Client’s money is money that we hold or have received on behalf of a client, this can be deposited into a segregated client account via Cash, Cheque, draft or electronic transfer. Please see below examples of client’s money:

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• Tenants Deposits

• Tenants Rent

• Interest

• Arbitration Fees

• Service Charges

• Fee money taken in advance

• Client money held due to be paid by contractors

• Sales proceeds

• Money held by member appointed as receiver

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UKALA require all members to hold client’s money in a segregated ring-fenced client account that is authorised by the Financial Conduct Authority (FCA). UKALA reserve the right to reject or cancel a member’s application or renewal if the agent does not hold client’s money in a segregated ring-fenced client account. We are fully compliant with Client Money Protection requirements.

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The UKALA Accounting Standard can be found here:

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