As you may be aware, the RICS have introduced new regulations regarding a commercial service charge code of conduct. As we understand it, these regulations are only applicable to commercial, more complex service charge properties but if you would like to look at the regulations yourself you will find the relevant information on the following link.

http://www.servicechargecode.co.uk

We have now finalised the changes required and these are currently being tested. Along with the required changes we have taken the opportunity to expand the already composite area of service charge and improve upon the suggestions made by the RICS.

• There is a required list of cost codes. We plan to hold these codes in a centralised database and link these codes automatically to the appropriate cost class and category.
• As these codes are 'suggestions' and will not be applicable to all of our users on all of their properties, we plan to allow the user to select by property the codes applicable to each (again linking to the appropriate cost class and category).
• We will allow the user the flexibility of adding their own cost codes and again selecting the properties that they are applicable to.
• We will change the service charge budgeting facility to allow the user to budget on multiple percentages (for planned and scheduled service charges) and will allow the user to budget on cost codes used within a schedule.

The required changes will be in an updated version of the system later this year and all users subscribing to the software support scheme will get this update (along with all other new features we have developed and are currently working on) free of charge.