Service charge accounts
Efficient, flexible, value for money
Transparency and accountability are key elements of property management. Service charge monies are received on trust from leaseholders and it is important to demonstrate the integrity with which these monies are spent. We work with landlords, management companies and managing agents to help them meet their service charge obligations and obtain certification, in accordance with s21 LTA 1985 and 1987 and the RICS Management Code.
We act for both landlords and management companies, reporting on residential, commercial and mixed developments, including large developments in the City of London and Canary Wharf.
Our services include:
verifying and reporting on residential service charge expenditure
verifying and reporting on commercial service charge expenditure
preparing statutory financial statements for management companies
auditing statutory financial statements.
We also provide specialist consultancy services, including:
- advising on the taxation of non-service charge income
- re-examining statements of service charge expenditure prepared by another accountant
- conducting investigations into the accounting performed by an outgoing management agent
- conducting investigations into the “true up” reconciliation for commercial property.