Service Charge Audits

Contact us today for service charge audit help information and advice.

As a landlord, you have certain obligations and responsibilities. This includes providing tenants an annual statement of service charge expenditure if they’re contributing to shared costs. Preparing service charge audits might be the last thing on your mind. But it’s first on ours. So let us do the hard work for you.

It’s the responsibility of the landlord to provide their tenants with a service charge statement. However, note that the service charge audit statement prepared by the landlord must be verified by an independent accountant before it’s issued to the tenant.

Contact us today for service charge audit help information and advice. We’ll tailor our approach to meet your needs and pride ourselves on transparent communication.

Why Choose Us for your Service Charge Audits?

When collecting service charges, it’s essential to act above board and to justify the charges you make. This is where service charge audits prove essential. By working in partnership with our specialist property accountancy team, you can benefit from a range of integrated services while enjoying our hassle-free approach to business.

We can help to:

  • Provide an independent report on service charge expenditure

  • Meet the auditing obligations of your lease

  • Prepare summaries of relevant costs in accordance with section 21 of the Landlord and Tenant Act 1985

  • Preparing leaseholder accounts – including income and expenditure accounts

  • Meet the ICAEW’s TECH 3/11 service charge accounting guidance

  • Explain and act in accordance with the RICS Code of Practice for “Service Charges in Commercial properties”.

  • Advise on banking. The amount that is paid by the tenant to the landlord as service charges should be held in a ring-fenced bank account. This does not imply that each property should have a separate bank account, but the funds for each property must be separately identifiable, as it is a breach of trust for one property to bear the cost of another.

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