Shelter’s Income and expenditure figures highlighted13:57 PM, 4th February 2019
About 2 weeks ago 35
16:39 PM, 18th June 2015
About 4 years ago
We are expats currently living in Australia and use an estate agent in London W11 to property manage our BTL portfolio and collect the rent. Last week said Agent was declared bankrupt by HMRC.
What is my position re. the rent now due by tenants – can I have them pay it direct to my UK bank account or am I bound by the lease and/or UK law for them to continue to pay it through the bankrupt Agent’s account? If they do this I believe it will be held by the Tax Man for months while the affairs of the agent are reviewed. The Agent is no longer managing the flats and I am required to employ someone else to look after the tenants. I require the rent for mortgages.
I’d welcome all advice as although I’ve been a landlord for 20+ years Ive never experienced this before.
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