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Accounting for Service Charges

Accounting for Service Charges

In October 2010 the institute of Chartered Accountants England and Wales (ICAEW) issued a technical release, “Accounting for service charges.” The release caused a lot of controversy in that it stated that as residential services charges are subject to statutory trust it proposed that where service charges are accounted through a residential management company, the […]

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Setting the service charge budget

Setting the service charge budget

Trying to calculate an appropriate service charge for your estate can be a bit of a black art and can be prone to a high degree of subjectivity. Factors such as the culture of the estate and attitudes to risk are “subjective” but the following guidelines should help. 1. Check the lease or transfer before […]

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Leasehold law relating to service charge accounting

Leasehold law relating to service charge accounting

Landlord and Tenants Act 1985 Section 21: Summary of the service charge costs. Leaseholders have the right to request a summary of service charge expenditures Section 21A: If section 21 is breached, the tenant might withhold the payment of the service charge. Section 21B:  Service charge information, summary of the rights and obligation of the […]

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Contact Us

Property Management Office

Address

Sandford Gate
East Point Business Park
Oxford
OX4 6LB

01865 910 169

Finance & Administration Office

Address

Newtown House
Newtown Road
Henley on Thames
RG9 1HG

01491 525 940