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“ACCOUNTING‧ARRANGEMENT OF AUDIT‧TAX COMPUTATION”PACKAGE

OneStart CPA provides one-stop service from accounting, arrangement of audit as well as tax computation.

ACCOUNTING SERVICE

Record Keeping

Section 51C of the Inland Revenue Ordinance requires

  1. Every person carrying on a trade, profession or business in Hong Kong to keep sufficient records in the English or Chinese language of his income and expenditure to enable the assessable profits to be readily ascertained.
  2. Such records shall be retained for a period of not less than 7 years.
  3. Failure to comply with the requirements of the Ordinance without reasonable excuse may be liable to a maximum fine of HK$100,000.
  4. The records prescribed in the Ordinance include
    1. Books of accounts recording receipts and payments, or income and expenditure
    2. Vouchers, bank statements, invoices, receipts
    3. Records of the assets and liabilities of the person in relation to that trade, profession or business etc.
Service Service Fee
Monthly Accounting Service HK$1,000 up/month
Annual Accounting Service HK$3,500 up/month

You just have to provide all monthly invoices and receipts to us, our professional team will be able to prepare accurate monthly, quarterly and annual financial statements, including balance sheet and income statement. This will definitely an advantage for the long-term financial planning and cost control of the company.

 

ARRANGEMENT OF AUDIT

New Notice of《Companies Ordinance》

Starting from 2015, under the Companies Ordinance (Cap. 622) of the Laws of Hong Kong, it requires a Hong Kong Limited Company’s directors must prepare for each financial statements, otherwise, he/she will be subjected to penalty.

 

Source: Department of Justice

TAX COMPUTATION

Our professional team will provide an annual income tax return based on the requirements of the Inland Revenue Department, including record keeping, arrangement of preparations and submission of financial reports, tax computation, etc.

Given the circumstances vary in each case, the fee depends on each case. Quotation will be given after preliminary assessment on the company’s situation and the scope of services required.

 

The basic fee may refer to the following table:

Tax Computation Service Fee
Tax Return HK$500 up
Employer’s Return HK$300 up
Property Tax Return HK$800 up
Arrangement of tax profit return HK$3,800 up
Extension of Tax Return HK$300

If you wish to know more, feel free to call 3575 0222!

USEFUL INFORMATION

Consequences of Not Paying Tax On Time

Section 71(1) of the Inland Revenue Ordinance (Cap. 112) provides that tax charged under the provisions of this Ordinance shall be paid in the manner directed in the notice of assessment on or before a date specified in such notice. Any tax not so paid shall be deemed to be in default.

If the first instalment is not paid by the date specified on the notice of assessment, the second instalment will become immediately due. The entire balance of the total tax payable in the notice of assessment remaining unpaid shall be deemed to be in default and will be immediately recoverable.

The Commissioner of Inland Revenue will initiate recovery actions [including imposition of 5% surcharge on the entire balance of the demand notice, issue of recovery notice to third party and initiation of legal action, etc.] as authorized by Part XII of the Inland Revenue Ordinance for recovering the total outstanding amount.

 

Sources: Inland Revenue Department