Why have I been charged a balancing levy or credited a surplus?

Under the terms of your lease or transfer documentation, you undertake to pay service charges on account in advance.
Your lease or transfer documentation then details when the service charge year ends. At which point a set of certified accounts will be prepared and issued within 6 months of the year-end.
Your dedicated Estates Manager will explain any over or underspends resulting in an invoice or credit.
For further information please read ‘How is the Service Charge calculated?’