Flat Management companies - Be careful
I have just been reading the guidance on flat management companies and it looks like the authorities have changed the rules.
Historically you had to be a qualified accountant to prepare accounts to make a s21 report. A qualified accountant was a CCAB accountant. Now under s28 you need to be a registered auditor as well. Guidance can be found here.
s21 is not an Audit, but the reference to a qualified accountant in s21 is totally redundant. You have to be an Auditor neatly changed in S28 (which didnt exist a year ago)
This is just so pathetic, who are the self serving muppets who make it up as they go along?
For the last two years you couldnt get guidance on this for love or money and now they amend the rules without the slightest regards for the users who have already made an appointment.
I couldnt care about the fee, its the whole process you are put through. The rule changes on a whim and there is no accountability. We need a proper regulator because regulation of this industry is quite beyond the capability of the CCAB bodies who are self serving and hopeless.
Why have such incompetence at the top of the profession. There are lifeforms at the bottom of the sea who could do a better job.
The irony is that these bodies repeatedly complain at the incompetence of the HMRC. HMRC is a far more respectable organisation.
- Interprise software 74 1
- TAX, VAT and non-UK residence 498 19
- Charity accounting 262 6
- Outsourcing Payroll 87 1
- sage 108 3
- Separate Pay runs for salary and commission 152 4
- Bank Requesting clients' tax residence 1,050 13
- ATT Exam tips and study help 206 4
- NO SUCH THING AS UNQUALIED ACCOUNTANT 134 1
- FBI2 200 3
- Double entry 168 4
- Companies House 145 3
- Small house in garden 148 1
- THE PUBLIC SECTOR SUCKS 147 2
- Clients 923 18
- can a dormant company make an employer pension contribution? 290 12
- Manually amending PAYE Code Number in HMRC Basic PAYE Tools 149 5
- Accountants not providing all required information 280 4
- Director's personal expenses paid by the Company 312 5
- Sage 50 - How do I find the column headings when I export to CSV 131 5
- HMRC BENCHMARK EXPENSES 539
- write off loan or loan to equity swap or both 470
- EPS and CIS deductions 328
- Sole trade business in UK, but the owner works from EU 311
- Construction CIS LLP Company 302
- Stamp duty on house transfer between spouses 296
- Tax Investigation - Employee Travel 264
- Overdrawn director account 219
- LIVE: Budget aftermath webinar 205
- Services via intermediaries and new HMRC reporting requirements 200