Does a property company need an accountant to prepare its accounts?
Last checked against the sources on
No. GOV.UK says companies do not have to use a professional accountant to prepare accounts. The directors are responsible for preparing them, the board must approve them, and a director must sign the balance sheet.
What the law puts on the directors
- The directors of every company must prepare accounts for each financial year.
- The board of directors must approve the accounts before they are sent to the company’s members.
- A director must sign the balance sheet on behalf of the board and print their name.
Using an accountant, software or a service does not move those responsibilities. The directors still approve what is filed, so they should understand what the accounts say. GOV.UK suggests getting professional advice if directors are unsure what their legal duties are.
Where a year needs more than the basics
Unusual transactions are where help is most worth having. A tool built for a narrow kind of company should tell you when a year has something outside what it handles, rather than guessing.
How SPV Accounts helps
SPV Accounts prepares the accounts for the directors to check and approve. Where a bank line is something it does not handle, it marks the year as needing an accountant instead of guessing at it.
Sources
General information checked against GOV.UK, not personal advice.