The Government decided in summer 2010 that it would not introduce regulations about the accounting for leaseholders’ service charge monies.

ARMA, the Institute of Chartered Accountants for England and Wales (ICAEW), the Association of Chartered Certified Accountants (ACCA) and the Royal Institution of Chartered Surveyors (RICS) cooperated to issue joint guidance on accounting for service charges.

Covering Topics

  • Overview
  • Summary of Best Practice
  • Bank Accounts for Holding Service Charge Monies
  • Deficits, Loans and Overdrafts
  • Annual Statements of Account for Service
  • Annual Statements of Account for Landlords and RMCs as Submitted to Companies House
  • Audit, Certification or Accountant's Report
  • Qualifications and independence of Accountants
  • Timescale for Annual Statements of Account for Service Charges (S.20b)
  • S21 Statements
  • Further Information

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