Service charge accounts

Clear, compliant and well-managed service charge accounts are essential for maintaining trust and transparency between landlords, managing agents and leaseholders. At UHY, we support property owners and managers with a specialist service charge team who are trained to provide accounting services that reduce risk and meet regulatory requirements while also freeing up your time to focus on what matters most.

We already work with a wide range of residential, commercial and mixed-use properties, helping clients manage service charge responsibilities with confidence. We always look to take a practical approach that is proportionate and tailored to your specific property and lease arrangements.

What are service charge accounts?

Service charge accounts determine how shared property costs are collected, managed and allocated between occupiers or leaseholders. They are a key part of ensuring transparency and fairness between parties and ensure compliance with any lease or management agreement terms.

Accurately accounting for these service charges can be complex and time-consuming and often comes under scrutiny. We take the pressure off by ensuring the accounts are clear and robust through an independent review or audit process.

Whether you are a landlord, managing agent, developer or residents’ management company, we will work alongside you to ensure the service charge accounts are clear and compliant.

Our range of service charge solutions

We have an in-house team who are dedicated to supporting our property clients with every area of the preparation of service charge accounts, their review or audit and all related tax services. We can tailor the services and level of support.

Our services include:

• preparation of annual service charge accounts
• independent accountant’s reports in line with lease requirements using institute guidance TECH 03/11
• review and audit of service charge accounts
• income and expenditure statements
• balance sheet statements and supporting schedules
• registration of trust tax with HM Revenue & Customs
• preparation of trust tax returns
• preparation of heat network/energy centre accounts
• payroll services (we have an internal payroll bureau that can deal with employee matters)
• providing company secretarial services including confirmation statement, appointment of directors and issuing of share certificates
• preparation of dormant accounts where connected to the property
• preparation of freehold/ground rent accounts where connected to the property
• preparation of CT600 tax computation and tagging in connection with the property accounts above
• attendance at AGMs when required
• assistance with cladding claim review in connection with ACM Remediation Funds or Building Safety Funds 
• preparation of accountants report for client monies (TPI – formerly ARMA and Propertymark)
• preparation of section 21 notices when requested
• assistance with VAT matters 
• commercial property service charge using institute guidance TECH 09/14BL

Our team understands the differences between service charge accounts and statutory company accounts, and we ensure each is prepared in line with the correct professional guidance.

Residential and commercial expertise

Residential and commercial service charge requirements can vary significantly between residential and commercial properties. We have experience across both sectors and understand the different expectations, guidance and practical challenges involved.

For residential properties, we support compliance with the Landlord and Tenant Act and related guidance, ensuring leaseholders receive clear and timely information. For commercial properties, we work within the terms of the lease to provide transparent and well-supported accounts that meet occupier and landlord expectations.

A practical, collaborative approach

We know that no two properties, managing agents or developers are the same. That’s why we take the time to understand your structure and systems as well as your pressures before tailoring our approach.

We work efficiently and ensure we communicate clearly and keep things proportionate to your needs. Our aim is not just to meet the technical requirements, but to make the process as smooth and straightforward as possible for everyone involved.

This service is led by experienced specialists, including Marc Waterman and Salima Visram, who bring deep knowledge of service charge accounting and the wider property sector. They work closely with clients to provide trusted advice and reliable delivery.

To find out more about how our service charge team can support you, please contact Marc or Salima, who will endeavour to assist with your requirements.