Service charge accounting for mixed-use properties
Our services are designed to simplify and overcome the inherent complications of mixed use properties in respect of both apportionment and VAT treatment. We can assist with:
We assist with the management obligation in terms of the calculating provision of services and repairing costs which vary depending on the extent of a lease and the nature of use.
Construction of service charge covenants
Assistance with schemes whereby the landlord seeks to recover from the tenant(s) the cost of works
The apportionment of service charges can be a complex matter in a building with a variety of modes of occupation (business, leisure, residential) or as between different buildings on a large estate. We provide guidance on the what may be the appropriate contributions for different users.
VAT for mixed-use properties
As experts in treatment of VAT for property management companies we provide VAT planning and VAT returns service relating to commercial and mixed-use properties. We can also advise you about VAT requirements when buying or selling commercial property.
As Association of Residential Managing Agents (ARMA) Partners we are kept up to date with changes in regulations and have the opportunity of keeping in close contact with our clients to make sure we always understand their needs and requirements.
Accountants for mixed-use properties
Mixed-use developments have both commercial and residential interests within one scheme. This poses challenges in bringing together two separate forms of best practice as well as satisfying differing VAT treatments. Our clients benefit from our long experience in service charge in accounting for mixed use properties. We help them to meet the legal requirements of both their landlord clients and residents in the most efficient and cost-effective way possible.