Tenancy deposit settlement
Allocate the deposit held against evidenced, agreed deductions. Across all four nations the accounting is the same. Follow the applicable protection scheme for release or disputed deductions. Exclude fair wear and tear.
Worked example
With £1,000 held and £350 agreed deductions, £650 returns to the tenant.
England uses authorised deposit schemes for assured periodic tenancies. Wales uses deposit protection for standard occupation contracts. In Scotland the approved scheme holds the deposit. In Northern Ireland, for deposits received from 1 April 2023, protect within 28 days and give information within 35 days. Use the relevant scheme to agree repayment or obtain dispute resolution.
England · Wales · Scotland · Northern Ireland
