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TCSP licence TC009022From bookkeeping to profits tax return, SetupHK meets deadlines; you just send documents.
Check services you need4.9★123 Google reviews
2014 years in business
TC009022 Trust or Company Service Provider licence
Yes. Three legal requirements apply from day one, trading or not.
Record daily income, expenses, assets and liabilities. Keep records for 7 years.
Companies Ordinance, sections 373 and 377
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
Complete the IRD's tax return and file it with the audited financial statements.
section 51 of the Inland Revenue Ordinance
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).
WhatsApp usDocuments to tax return, handled by SetupHK; pick only the items you need.
Sort bank statements, invoices and receipts, then file them.
Record each transaction and reconcile with the bank.
Prepare profit and loss account and balance sheet for audit and tax.
Pass accounts to our partner CPA practice for audit, then follow up the report.
Legal requirementComplete and submit BIR51, and apply for an extension as tax representative if needed.
Legal requirementFor companies with staff: organise payroll records for the employer's return.
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.
No standard price list: pick four items below, then send your quote details on WhatsApp.
More transactions and invoices mean longer bookkeeping. Not sure? Check how many transactions your bank statements show a year.
Stock, property or cross-border dealings make the books more complex and take longer.
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.
Your year-end date sets the extension deadline; the closer it is, the more rushed things get.
Pick a year-end date to see how far the 2025/26 tax return can be extended.
Bookkeeping is daily; audit and tax have statutory deadlines. We plan around year-end.
Monthly or quarterly
Ongoing; we do the bookkeeping
Financial statements
After year-end; P&L and balance sheet
Audit report
After year-end; audited by a practising CPA
Due within 3 months
About 18 months after incorporation; then issued each early April, usually due within 1 month
N / D / M codes
Depends on year-end date; tax representative applies online, see table below
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.
Same process for new clients and those moving from another accounting firm.
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.
Monthly, quarterly or at year-end, send bank statements, invoices and receipts, paper or electronic.
We do the bookkeeping, reconciliation and statements, and check with you if anything is unclear.
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.
Not every expense is a company expense. SetupHK consultant Marx Chan uses an example to show how to judge a business link.
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.
YL LAW
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.
Cindy Chow
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.
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.
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.
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 requirementsA ‘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.
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.
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 auditUsually bank statements, sales and purchase invoices, receipts, tenancies, payroll records and asset contracts. We list what you need, based on your business, before starting.
Depends on document volume and completeness; see the quotation. Then a practising CPA audits the statements.
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.
Choose only what you need, such as us arranging the audit and tax return, or reviewing accounts at year-end.
What accounting services cover, audit requirements, and accounting vs audit.
Tell us your business and rough document volume. SetupHK will list the services you need and quote for your situation.
