Flat management companies: Get the details right
A recent UITF update on the accounting for residential management companies raised as many questions as it answered. So Jennifer Adams took the opportunity to review the company structure options available.
AccountingWEB’s coverage of UITF 92 on residential management companies’ financial statements provoked several comments from members that suggested it might be a good time to remind accountants of the different ways residents can own and manage their flats, including the RTM - “right to manage” company.
Register with AccountingWEB.co.uk and log in to see full details for the following approaches:
- Resident management companies
- Company limited by shares
- Company limited by guarantee
- An interesting problem
- Right to manage companies
- Setting up an RTM