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.
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