What are Service Charge Accounts?
Service charge accounts are a set of statements that are usually prepared yearly to leaseholders.
They are required by landlords or property management companies who are collecting service charges needed to settle shared costs.
Managing these costs and collecting these charges have differing accounting requirements and require specialist knowledge and expertise in the leasehold sector.
Service charge accounts include the details of actual service charge income and expenditure for the year. In the realms of accounts and legislation, they are often referred to as a ‘summary of relevant costs’.
Most leases require these to be certified by an accountant.
How Can We Help?
At our firm, we specialise in providing quality financial and compliance support, ensuring you navigate through regulatory complexities seamlessly while minimising financial risks.
We have many years of experience and a vast knowledge in service charge preparation for residential, commercial and mixed-use premises of all sizes and locations.
Our service charge accounting services are customised to suit your specific setup. Get in touch with us today via our contact form, and we’ll be delighted to discuss your requirements in detail.
