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TCSP licence TC009022

Hong Kong accounting services

From bookkeeping to profits tax return, SetupHK meets deadlines; you just send documents.

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4.9★123 Google reviews

2014 years in business

TC009022 Trust or Company Service Provider licence

Must a limited company do accounting?

Yes. Three legal requirements apply from day one, trading or not.

Keep accounting records

Record daily income, expenses, assets and liabilities. Keep records for 7 years.

Companies Ordinance, sections 373 and 377

Annual audit

Each financial year needs an auditor, and only a practising CPA can act. Small private companies may use simplified reporting, but still need an audit.

Companies Ordinance, sections 393, 394 and 359

File the profits tax return

Complete the IRD's tax return and file it with the audited financial statements.

section 51 of the Inland Revenue Ordinance

What happens if I skip it?

What happens if I skip it?

Without books, you cannot produce audited statements or complete the tax return. Late filing lets the IRD tax estimated profits and may lead to prosecution (Inland Revenue Ordinance, sections 80 and 82A).

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Not keeping accounting records Directors can be fined HK$300,000
If deliberate Plus possible imprisonment of 12 months
Not filing tax returns on time HK$10,000 fine, plus 3x tax undercharged
Never filing the return IRD may issue an estimated assessment

What do accounting services include?

Documents to tax return, handled by SetupHK; pick only the items you need.

Organising documents

Sort bank statements, invoices and receipts, then file them.

Bookkeeping

Record each transaction and reconcile with the bank.

Year-end and financial statements

Prepare profit and loss account and balance sheet for audit and tax.

Arranging the audit

Pass accounts to our partner CPA practice for audit, then follow up the report.

Legal requirement

Profits tax return

Complete and submit BIR51, and apply for an extension as tax representative if needed.

Legal requirement

Payroll and MPF records

For companies with staff: organise payroll records for the employer's return.

Why use a separate practising CPA for audit?

Why use a separate practising CPA for audit?Auditors must be independent of the bookkeeper, and only a practising CPA can act as auditor. SetupHK handles bookkeeping and year-end, then passes the accounts to a partner CPA practice, so you need not find an auditor or send documents back and forth.

How are accounting services priced?

No standard price list: pick four items below, then send your quote details on WhatsApp.

1

Roughly how many documents a year?

More transactions and invoices mean longer bookkeeping. Not sure? Check how many transactions your bank statements show a year.

Under 100 Documents per year
100–500 Documents per year
Over 500 Documents per year
Not sure We estimate it for you
2

What type of business is it?

Stock, property or cross-border dealings make the books more complex and take longer.

Trading and online stores Has inventory
Services and consulting Mainly service income
Food, beverage and retail With inventory and staff
Other industries Explain on WhatsApp
3

Which services do you need?

Audit and tax return are required every year and can be handled together. Companies with staff also need payroll and MPF records. Have an accountant already? Choose audit and tax only.

Bookkeeping and year-end Includes financial statements
Arranging the audit Audit by a practising CPA Legal requirement
Profits tax return BIR51 and extension Legal requirement
Payroll and MPF records Companies with employees
Employer's return BIR56A, IR56B
4

What is the company's year-end date?

Your year-end date sets the extension deadline; the closer it is, the more rushed things get.

31 March Code M
31 December Code D
Other months Mostly Code N
Not yet decided We can advise

Pick a year-end date to see how far the 2025/26 tax return can be extended.

Your quote details (tap to open) 3 services selected
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Accounting, audit and tax timetable

Bookkeeping is daily; audit and tax have statutory deadlines. We plan around year-end.

Keep your documents

Monthly or quarterly

Ongoing; we do the bookkeeping

Year-end

Financial statements

After year-end; P&L and balance sheet

Audit

Audit report

After year-end; audited by a practising CPA

First tax return

Due within 3 months

About 18 months after incorporation; then issued each early April, usually due within 1 month

Apply for an extension

N / D / M codes

Depends on year-end date; tax representative applies online, see table below

How far can the 2025/26 tax return be extended?

2025/26 tax return extension

Tax representatives apply for extensions in bulk, in three groups by year-end date. Only tax representatives can apply. The IRD has not yet announced 2026/27 arrangements; we will update once it does.

Source: IRD 2025/26 bulk extension circular

Year-end 1 April to 30 November (Code N) No extension
Year-end 1 to 31 December (Code D) 17 August 2026
Year-end 1 January to 31 March (Code M) 16 November 2026
Code M loss cases 1 February 2027

Accounting services process in 4 steps

Same process for new clients and those moving from another accounting firm.

01

Free consultation

WhatsApp or call us with your business, year-end date and rough document volume. We list the services you need and give a tailored quote.

02

Hand over documents

Monthly, quarterly or at year-end, send bank statements, invoices and receipts, paper or electronic.

03

Bookkeeping and year-end

We do the bookkeeping, reconciliation and statements, and check with you if anything is unclear.

04

Audit and tax return

We arrange the audit and file the profits tax return once we have the report. After the notice of assessment, we remind you of the payment deadline.

Time from complete documents to finished statements depends on volume; see the quotation.

Which expenses count as company expenses?

Not every expense is a company expense. SetupHK consultant Marx Chan uses an example to show how to judge a business link.

Must relate to income to be deductible
Keep every document for audit and tax
Unsure? Ask your accountant first

Client reviews

These are reviews left by clients on Google, published as written.

Many thanks to SetupHK, especially during this first year of running my business. Even today, whenever I contact the accounting staff, they are very professional, conscientious and attentive. Finding SetupHK was our good fortune.

Y

YL LAW

Google review

Super efficient and I reached them during Saturday non office hours and their team still provide me with great response and great advice on what I need to do after some bad experience with my previous accounting and company secretary service firm. I will highly recommend them to anyone who wish to find a trustworthy company to provide company services.

C

Cindy Chow

Google review

4.9
123 Google reviews View reviews on Google

Accounting services FAQs

How are accounting services priced?

SetupHK quotes by yearly document volume, industry, audit needs and whether you have staff. No standard price list; WhatsApp us your details for a quote.

Must a new company do accounting?

Yes. The Companies Ordinance requires a limited company to keep records from incorporation: daily income, expenditure, assets and liabilities. Even with little first-year business, keep books as the basis for audit and tax.

How long to keep accounting records?

7 years. Section 377 of the Companies Ordinance requires 7 years from the end of the last financial year the records cover. Section 51C of the Inland Revenue Ordinance requires at least 7 years.

Must a limited company be audited?

Yes. Every financial year needs an auditor, and only a practising CPA can act. Small private companies may use simplified reporting, which exempts only some disclosures, so audit still applies. The only exception is a company declared dormant under section 5 of the Companies Ordinance.

Audit requirements

What is simplified reporting? Can we skip the audit?

A ‘small private company’ (total revenue and total assets up to 100 million, up to 100 employees, meeting two of three) with all members' written consent can prepare simplified statements and a directors' report. This reduces disclosure only; statements must still be audited by a practising CPA.

Notify the IRD if no tax return arrives?

Yes. With assessable profits but no tax return, notify the IRD in writing within 4 months after the basis period ends (Inland Revenue Ordinance, section 51(2)). A new company usually gets its first return about 18 months after incorporation, so keep the books in order until then.

How do accounting and audit differ?

Accounting records transactions and prepares financial statements. An audit is an independent practising CPA checking they are true and reliable, then issuing an audit report. A limited company must do both every year.

Accounting vs audit

What documents does accounting need?

Usually bank statements, sales and purchase invoices, receipts, tenancies, payroll records and asset contracts. We list what you need, based on your business, before starting.

How long do accounting services take?

Depends on document volume and completeness; see the quotation. Then a practising CPA audits the statements.

Still file accounts and tax if not trading?

If you receive a profits tax return, you must file it, entering ‘0’ for items with no amount. A company declared dormant under section 5 of the Companies Ordinance can be exempt from audit and the annual return, but needs a special resolution first and registration with the Companies Registry.

I have an accountant. Do I still need you?

Choose only what you need, such as us arranging the audit and tax return, or reviewing accounts at year-end.

Which accounting services do you need?

Tell us your business and rough document volume. SetupHK will list the services you need and quote for your situation.

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