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.
- Clothing 547 16
- Change to PAYE TAX CODE 193 7
- Capital allowances on transfer of business 188 8
- Parent and subsidiary... 129 4
- Anybody still doing returns? 776 32
- Money laundering and can accountants be sued by clients if they make a report 1,225 17
- Capital Gains PPR and allocation of costs 358 16
- Designated sole Residence 161 2
- HMRC Sends Derbyshire pensioner Doug Yeomans tax demand for £4.7 BILLION! 733 15
- Anyone know what this is? 283 6
- HMRC filing meltdown? 919 27
- 'My colleague fills in his own Self Assessment" and he/she claims,x,y and z" 541 7
- Selling Capital Allowences from Self Employed to Ltd Buisness 279 9
- no utr 309 8
- client can't/won't pay 2,143 49
- Director drawings 612 32
- Tax Returns for non residents 300 2
- Investment properties/freehold land 95 1
- Capital Loss 143 3
- LLP formed in 2013 114 1
- Form MR01 (Particulars of a charge) - does this need to be filed if you remortgage with the same lender? 956
- Underpaid VAT assessment and relation to SATR 678
- Did you realise Google will not patch android exploit ... 625
- Latest phishing scam 600
- Cashback for opening business bank acct = trading income? 440
- Auto Enrolment Questions Answered 327
- Scratch Head 266
- Loan benefit after person ceases as director/employee 258
- Sabbatical payments 219
- Negligible Value Claim 199