Service Charge Accounting
We are specialists in this area, including the associated legal compliance, share issue, payroll, and trust tax returns.
We work closely with many Managing Agents, local and national, as well as many Freeholders and Management Companies, formed by lessees under the right to manage legislation.
There is the current requirement to prepare service charge accounts for any property containing 5 or more residential units. For properties with 4 or fewer units, service charge accounts are not compulsory, but must be provided if a tenant requests them.
Our accounts comply fully with the legal requirements of both Companies House and the Landlord and Tenant Act 1985 and always include an income and expenditure account and balance sheet as standard. We are registered auditors, providing audited accounts where required.
Ensuring your investment continues to add up.
Payroll & End of Year Return
If the property has employees such as cleaners or concierges, our payroll department can deal with the wages on a weekly, fortnightly or monthly basis. We also deal with the filing of employer’s end-of-year returns and payment of payroll liabilities.
HMRC have recently introduced stricter guidelines in which employers must operate, therefore it is vital that you keep up to date with his.
Right to Manage Processes
We work closely with specialist legal and surveying firms, often as lead contact and strategic project manager in the Collective Enfranchisement Process or Right to Manage Process. We have many years of experience in guiding lessees, as well as Freeholders, through the right to manage process, along with these professional associates. Especially where valuation principles are abstract or particularly complex.