Commercial service charges are not subject to statutory legislation; with requirements for their management set out in individual lease agreements.
The company is looking to move into an existing building in a few months, fit-out due to start shortly. In the interim, service charges have already become payable to the management company.
It is disappointing to see there were no responses to FRED50 from small practitioners.
Does a company formed to handle rent charges have to report any differently to a company formed to handle service charges?
I realise that this question has been raised before
New guidance from the taxman on how property and “flat management” companies should present their accounts has confused accountants, reports Nick Huber.
I have a client who runs a property investment portfolio, they have recently acquired a couple of commercial office buildings that are occupied by multiple tenants.