Flat Management Services
Hanleys is a local South Manchester based firm of chartered accountants, registered auditors and tax advisors specialising in flat management and Block management accounting. We have a dedicated Service Charge Accounts Team with many years experience supporting and advising managing agents, landlords and flat management companies nationwide.
We have included details below of our flat management accounting services and recent service charge accounting guidelines that you should be aware of. However, our aim is to take this burden away from you and provide a fast turnaround on the service charge accounting services you require whether you are a managing agent or an owner of a shared property.
New service charge accounting guidelines
Towards the end of 2011 new guidance on accounting for service charges was introduced by key accounting bodies ACCA and ICAEW and industry bodies ARMA and RICS, on how to prepare accounts for flat management companies.
The new guidance sets out:
1. How service charges should be accounted for
2. How bank accounts, deficits, loans and overdrafts should be managed
3. Requirements for flat management audits, certification and accountants reports
4. The format and timescales for flat management annual statements
Flat management accounting services
We will build a tailored service offering based on the exact requirements of your service charge accounts. We are able to offer the full range of services that you might require including:
- Accounts preparation in accordance with all legislation
- Tax planning advice
- Audit services
- Full company formation services
- Maintaining statutory registers:
- Share transfers for changes in company ownership
- Completing annual returns and submitting them to HMRC
- Registered office facility
- Bookkeeping services
- Personal tax service
Why managing agents and flat management companies choose us?
- Specialists in service charge accounting – through managing agents and working directly we deal with more than 120 flat management companies, so we have considerable experience in preparing and auditing service charge accounts.
- Excellent value for money – we offer high quality accounting services at very competitive rates.
- No hassle and easy to work with – we build strong working relationships with managing agents and flat management companies to provide a quick turnaround time on accounts.
- Compliance with new flat management accounting legislation – we have the technical skills needed for compliance with all legislation relating to service charge accounting. This includes compliance with s152 of the Commonhold and Leasehold Act, the ICAEW technical release 03/11, the Landlord and Tenants Act, the Commonhold and Leasehold Reform Act and where applicable the Companies Act.
- Able to offer support at every step – including service charge structures, tax implications, setting up limited companies and can attend AGMs.
- Able to offer wealth management services for landlords/high net worth individuals – including personal tax services, tax planning, IHT advice and setting up trusts.
For a free consultation on your service charge accounting needs, or general advice on complying with the new guidance please contact