You can set up a limited company - sometimes called a Right to Manage or flat management company - so residents can jointly run a property, eg a block of flats.
Property management law is different in Scotland - see the Scottish government’s guidance on property factors.
You must follow the normal process for setting up a private limited company.
The Leasehold Advisory Service has detailed advice on setting up a company to manage property, including dealing with the landlord.
All the residents who have agreed to be directors will have legal responsibilities.
You must also send Companies House:
You must send a Company Tax Return to HM Revenue & Customs (HMRC) no later than 12 months after the end of the company’s first financial year.
After you do this, HMRC may decide to treat your company as ‘dormant’ - this means that they wouldn’t expect your company to send Company Tax Returns for later years.
They may do this if your company does none of the following:
They will write to the company if they decide to treat it as dormant.
Your company must send a Company Tax Return every year if:
Don’t include personal or financial information like your National Insurance number or credit card details.