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.
- Scottish independence - what happens to HMRC? 1,032 56
- Are HMRC cutting out Agents in tax investigations? 242 2
- Dental practice incorpration 107 1
- Audit rules 151 4
- Stopping trading and de-registering for VAT 223 5
- Disengaging a client who uses our office as a registered office address 812 20
- Go Cardless 260 8
- business entertaining deductibility 120 1
- Self assessment tax arrears 134 2
- R & D 101 3
- Shareholder/Directors termination payments 75 1
- Childcare vouchers and final month payroll Qs 107 2
- Can anybody help withe the RTI end of year process? 152 3
- Payroll software with annual pay period? 149 1
- New Business Registration 212 5
- Hosted email exchange 133 4
- Excel formula for UK corporation tax including losses 148 1
- G P life time allowance 115 3
- Why will HMRC not code out my client's £1,730 underpayment for 12/13 374 11
- Bringing money to Uk 218 3
- Xtuple 501
- Qtac payroll for bureau 335
- Confused - Professional Association a Mutual trader, or not? 280
- Industrial & Provident Societies 276
- Mehjoo 220
- Data transfer from Sage Line 50 to VT Transaction+ 218
- New strategic report 170
- Domain name sale and limited company 159
- South African Government Pension 154
- CIS schemes 149