What is the regulatory requirement?
The filing requirement depends on how the Registered Social Housing Provider (RSHP) (formerly known as Registered Social Landlord) is constituted:
- RSHPs that are registered societies need to file annual accounts with the Financial Conduct Authority within 7 months of their period end, together with Annual return.
- RSHPs that are companies need to file their accounts with Companies House within 9 months of their year end, or face automatic penalties.
- RSHPs that are companies and also registered charities also need to file their accounts with the Charity Commission within 10 months of their year end.
- All RSHPs need to file their accounts with the Homes and Communities Agency within 6 months of their year end.
- All RSHPs need to file a corporation tax return within 12 months of their year end, unless it is a registered charity
The accounts should comply with:
- UK GAAP and applicable accounting standards
- The Accounting Direction for Social Housing in England from April 2012
- Statement of Recommended Practice: Accounting by Registered Social Housing Providers: Update 2010 (‘the Housing SORP’)
- Accounting and Reporting by Charities: Statement of Recommended Practice (2005) if also a registered charity (although the Housing SORP takes precedence). The 2015 updated versions of the Charity SORP will apply for periods beginning 1st January 2015
Why use Slade & Cooper for RSHP accounts preparation?
- We always strive to ensure that our accounts are accurate – for example reconciling the payroll to the accounts and checking for accruals and prepayments.
- As registered auditors we are able to prepare the audit exemption report where necessary.
- If we are also doing your audit there is a significant cost saving as some of the audit work is covered as part of the accounts preparation.
- We can also prepare the corporation tax return including iXBRL tagging of the accounts.
- We will advise you regarding any VAT or PAYE compliance issues or any issues regarding your governance or financial procedures that become apparent during the preparation of the accounts.
- We aim to provide a good value service – see our pricing policy.