Property Management
Property management
A service charge account is specifically used in the property management industry. Such accounts are used by landlords, property management companies or property investment companies to collect service charges from tenants, lessees or leaseholders.
As these charges come under increasing scrutiny, residents are placing collective pressure and demands on their Managing Agent to provide independently reviewed or audited service charge accounts.
From an accounting perspective, this is a highly specialist area, requiring the attention of experienced specialists who can help you to produce these accounts in a timely fashion and with maximum cost effectiveness.
Cartwrights dedicated team of professionals have a proven track record in this field. Working closely with Managing Agents we can help you ensure that these resident demands are met and often surpassed. Whether you are actively looking for new Reporting Accountants or Auditors or simply wish to see how we compare to the competition, your current accountants and auditors, we look forward to hearing from you.
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HMRC have proposed a new criminal offence for making reckless, untrue statements or declarations about what's known as 'direct taxes' - Income Tax, National Insurance and the like. For Customs and Excise and VAT ('indirect taxes'), it is already possible to prosecute individuals who make untrue statements or submit incorrect documents either knowingly or recklessly, without the need to prove dishonesty. The penalties for such offences can be severe, including substantial fines and imprisonment. The direct tax regime does not currently contain an equivalent offence.