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.
- Directors loan - no longer a director 288 4
- Physiotherapy And Vat 142 3
- NHS PENSIONS XFER ABROAD 52 1
- We contribute a percentage of employees' salaries to a pension scheme set up by them - do we need to get involved in auto-enrolment? 441 5
- New tax codes for ex-employees 137 2
- how to value rental space 38 2
- Output tax for retailer 251 6
- Partnership Tax Return £100 penalty-was a tax return due in this case? 436 11
- Budget 2015 predictions 126 4
- Failure to operate PAYE 1,912 32
- Telemarketing 110 3
- Pass-through costs - show gross or net under UK GAAP / IFRS? 90 1
- Non domicile swiss bank 119 2
- Husband Wife let property 95 1
- Tennants in Common - Changing % Share 84 1
- Gift between companies 115 2
- Vat reclaim on invoice payable over 4 years 452 6
- Why .... 708 8
- Does anyone know how to deal with crowd funding income 946 9
- NI Contributions in order to claim state pension 549 12
- Possible Partnership? 591
- Tax and accounting treatment on long lease granted from freehold 497
- New Fangled Penalties 403
- Clubs and Taxable Income 325
- Purchase of property freehold - capitalisation of costs 295
- Closed PAYE schemes and auto enrolment 248
- Loans to other companies 242
- Lenovo – Superfish & Komodia – is your PC vulnerable 209
- Outsource Data Entry 202
- Moving away from CCH software 196