Service Charge Accountants Managing Leasehold Accounting

Clear House Accountants provide specialist Service Charge Accounting services to Block Management, Property Management Companies, Landlords, RMCs, RTMs and Developers. If you are a Landlord, Developer, Property Management Company or RMC/RTM, you must know the complicated rules and regulations within the Service Charge Industry Guidelines, which align with the Landlord and Tenant Act.

Service Charge Accountants

Holistic Service Charge Accounting Function

Accounting for property management and service charges can get complex, and rules such as Section 20b, Section 20 Major works, etc., can be hard to follow. With years of experience in Service Charge Accounting, our in-house panel of experts can deliver a tailored approach to all your service charge and property management accounts needs. We offer personalised solutions encompassing service charge accounts preparation, billing, supplier management, service charge credit control, and certifications.

Service Charge Budgeting

Our property specialist accountants will assist you in preparing accurate service charge budgets, considering factors such as maintenance costs, utilities, insurance, and other relevant expenses. With our forecasting expertise, we help you anticipate future financial requirements and plan accordingly, enabling effective financial management.

Transparent Expense Analysis

We understand the importance of fair and transparent expense analysis among tenants or leaseholders. Our meticulous approach ensures that service charge expenses are allocated in accordance with industry guidelines and lease agreements. This contributes to a harmonious and efficient property management environment by mitigating disputes and maintaining positive tenant relationships.

Service Charge Reporting

Our team generates detailed financial reports specifically designed for the property management sector. These reports include comprehensive income statements, balance sheets, and cash flow statements, providing a clear overview of service charge income and expenditure. With our reports, you can make informed decisions to optimise your financial performance.

Accounting Software Support

Service Charge Compliance

Staying up-to-date with the latest industry regulations is essential for sound service charge accounting practices. Our team is well-versed in the relevant accounting standards, including the Royal Institution of Chartered Surveyors (RICS) guidelines. Clear House Accountants, remove the stress of preparing service charge accounts while staying compliant with the Lease Requirements, Technical Standards prepared by Joint professional bodies and Associations such as ARMA/ACCA/ICAEW/RICS, etc. and the Landlord & Tenants Acts, while saving you time and money, helping you focus on what matters, which is building your Service Charge Company.

Service Charge Certification

We are Chartered Certified Accountants who have developed a strict training regime in-house to ensure that we are fully trained on all matters Service Charge. We stay one step ahead of all regulations and industry guidelines. We aim to assist property management firms, chartered surveyors, and property owners in meeting their service charge accounting obligations and obtaining certification through a robust and effective certification process while keeping things flexible and ensuring that the client receives value for money.

Service Charge Credit Control

Clear House understands how persistent slow payers can drain resources and hamper your development’s cash flow. We offer an effective control system to optimise cash flow and avoid bad debts through our service charge credit control services including but not limited to reviewing payment terms and improving the reminders process if necessary, reviewing and improving the demand process if required, Communicating with tenant debtors with relevant credit control letters, emails, and telephone calls, and adding charges and Interest if required and passing on to preferred debt collectors if still unpaid.

Trust Tax Returns

Service charge funds held in trust accounts often require annual tax returns. We prepare and submit Trust & Estate Tax Returns (SA900) to HMRC for managing agents, RTMs, and RMCs, ensuring compliance and minimising tax exposure where applicable.

Add Value To Your Service Charge Department

Book a meeting to learn how

Proven Track Record as Leading Service Charge Accounting Firm

We have a proven track record, and our award-winning performance is proof in itself.
It reaffirms that we deliver high-quality solutions, have strict data and privacy protection policies, and offer hundreds of free resources and money-saving services.

Clear House Accountants team is highly professional and easy to communicate. Every time I had questions they were very mindful and eager to find a solution for me and my business. I definitely recommend.

I’ve been working with clear house accountants for a long period of time and have been consistently impressed with their expertise, professionalism, and friendly service. Their team has taken care of all my accounting needs, from tax returns to financial planning, with utmost care and accuracy.

They’re not just accountants they’re solution providers. They respond quickly …. they make my life easier and ‘I’ve never even seen a small mistake, you know this so important for accountants. They’ve earned my trust and gone above and beyond many times. There is no question in your mind. You can trust them easily.

I have been associated with Clear House Accountants for a few months but I am truly impressed by their work. Competitive and excellent accountants who know the best use of accounting software. I am sure everyone would love to work with you guys. It’s absolutely recommendable.

Why Clients Use Our Service Charge Accounting Services

Clear House Accountants can help provide Service Charge Accounting Preparation, Tenant Billing, Service Charge Credit Control, Management Accounts, Budgeting Services, and more. We can understand your processes and take over most of your time-consuming or cost-centred tasks. With our bespoke Service Charge Accounting services and Administrative solutions, Clear House Accountants is the right Service Charge accounting firm for you. Our Finance as a Service solution can help you outsource your Client Accounting Department to us while focusing on adding value for your clients by answering Tenant Queries, Reducing Costs, Improving Service Levels, etc. Speak to us to learn more about our Finance as a Service Solution.

Service Charge Accountants

Industry Specialised Accounting Software

As a Leading Accountancy Services provider, our mission is to provide you with the best cloud-based accounting software that is suitable for your business management needs and demands. We help build complete software ecosystems around your business needs; all these solutions are compatible with your online software.

Simplified Service Charge Accounting

Creating a Seamless
Solution for You

Service Charge Accountants Across The UK

At Clear House Accountants, we pride ourselves on providing exceptional service charge accounting services across the UK, focusing on key business hubs. Our expert team of specialised service Charge accountants is readily available to assist you in the following prime locations:

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Director Operations & Finance

With more than a decade of experience, Anam skillfully manages the Service Charge Accountants team.

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FAQs

Frequently Asked Questions About Service Charge Accounting in the UK

What are service charge accounts?

Service charge accounts include financial statements stating the expenses and income of a landlord or property manager on the services provided for a property (building or complex). These statements outline the amount collected from the leaseholders and tenants and the amount spent on services and maintenance provided, including repairs, management fees, and building maintenance.

Do service charge accounts need to be audited?

It depends on the specified terms and conditions of the lease agreement and regulations. It is generally not a requirement for mandatory audits, but leases may stipulate one or need a certification by a qualified accountant. If it is not mentioned in the legal agreement, an audit is not legally required, but leaseholders may have the right to request one.

How often are service charge accounts prepared?

Annually. Service charge accounts are typically prepared annually as required by the lease agreement.

How do service charge accountants charge for their services?

It depends on the accountants and the scope of their services. The few common methods are hourly rates, fixed fees, or a percentage of the service charge budget. To get a better idea of the expected fee for your property management company, request an instant quote.

Are there any regulations involved in producing service charge accounts?

Yes, in the UK specifically, there are regulations and governing bodies for service charge accounts centred around the Landlord and Tenant Act 1985,