In accordance with the Property Services (Regulation) Act 2011, Property Service Providers are required to apply annually to the Authority for a licence renewal. The requirement in the legislation is to apply to renew the licence 6 weeks before their licence expires. This would commonly be 25 May 2014 where the licence expires on 5 July 2014.
Renewal applications must be accompanied by the appropriate accountants report. For 2014 the Property Services Regulatory Authority (PSRA) have issued revised accountant report forms:
- PSRA S35 – Renewal ABC is required for renewal application by property services providers holding client accounts.
- PSRA S35 – Renewal D is required for renewal applications if service charges and/or sinking fund contributions are paid into a "relevant account" (a "relevant account" is an account which is not a client account).
If a property service provider holds a client account and also lodges client monies into a ‘relevant account’, then both forms are required to be completed.
We have updated our Combined Guidance Document and Work Programme to reflect these changes.
The Combined Guidance Document and Work Programme is available in the Free Resource section of the Accountants Resource Centre.
If you are a member of The Accountants Resource Centre please Login Now to download your revised Combined Guidance Document and Work Programmes.
If you are not yet a member of The ARC, sign up now to gain access to this document and lots of other Free Resources. Register for Free Membership Now.
If you have any additional queries or need any assistance please contact Garret (firstname.lastname@example.org) or Des (email@example.com) directly at OmniPro on either 01 4110000.
t: 01 4110000
t: 01 4110000