Service Charge Audits and Recoverable Expenses

While service charge audits can often be a hassle, carrying out a residential or commercial service charge audit will give peace of mind to tenants, managing agents, and landlords. We know that this process puts pressure on you, whether you’re a managing agent or a commercial landlord. After all, service charge audits can become a drain on your time and resources.

Our understanding

In most leases, there is a requirement for the landlord to provide an annual statement of service charge expenditure to occupiers after a service charge period. It is common for the annual statement to be certified by the landlord’s surveyor, managing agent, and accountant. Your lease might also require the statement to be audited.

In some cases, there is no express requirement in the lease to prepare an annual statement of service charge expenditure. However, it is considered good practice. If you’re a landlord, this service will offer transparency to your occupiers. At Wisteria, we can help you prepare and certify a service charge statement.

Here at Wisteria, we offer a comprehensive, flexible, value-for-money service. Our service is backed by a thorough understanding of the commercial and residential property industry. Find out how we can help you today.

How we can help

Our service charge team has over 50 years combined experience. They undertake service charge audits and related work for over 150 properties, ranging from small residential and commercial sites to large regional shopping centres.

We design our procedures to recognise the risks of misstatement and to ensure that these do not produce delays. We will test 100% of your transactions and run them through our analytical review procedures. This way, you can be assured that your annual statements will be free from material misstatement.

Our services include:

Preparation and certifying the annual statement of service charge expenditure
Ensuring recoverable expenses and non-recoverable expenses are correctly allocated
Preparation of statutory accounts for management companies
VAT and other tax advice
Registered auditors

At Wisteria, we work closely with managing agents and leaseholders alike, delivering an efficient, timely, and cost-effective service. If you would like to learn more about service charge audit services, please don’t hesitate to get in touch.

Meet the expert

Barry leads the Audit & Assurance department at the firm having significant experience providing statutory and non-statutory audit services across a wide variety of client sizes and sectors. Barry also has significant expertise in financial reporting, general accounting and financial advice.

Prior to joining Wisteria, Barry had nearly 15 years of experience working in Central London and the City. Barry trained at Alliotts LLP and post-qualification moved to Grant Thornton UK LLP where he gained a further 10 years of experience delivering high quality national and international audits.

bau@wisteria.co.uk

Learn more about Barry

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What makes Wisteria different?

Specialist tax and business advisers like no other

We seek out opportunities

While working on your tax affairs, we seek out opportunities for you to further develop. We’re with you every step of the way.
We aim to keep you in the loop

We aim to keep you fully in the loop, discussing developments and new options with you, as part of regular meetings.
You're in safe hands

We give you peace of mind, your tax return is dealt with in good time, and each opportunity is identified and implemented.
Long term relationship

By developing long-term relationships with clients, our tax return services work alongside the tax advice we provide.