I am in the process of wresting control of an apartment Management Company from developers, and putting it into the hands of a well-organised group of owners. The apartment owners have not been asked for management company fees for years. Yet the developers have put in audited accounts showing healthy profits every year, as if invoices had been sent out.
This of course has attracted hefty corporation tax which is now shown in the accounts as being owed.
The apartment owners are understandably reluctant to become directors until their financial liabilities are sorted out reasonably.
Any ideas what can be done here?
This of course has attracted hefty corporation tax which is now shown in the accounts as being owed.
The apartment owners are understandably reluctant to become directors until their financial liabilities are sorted out reasonably.
Any ideas what can be done here?