{"id":367,"date":"2025-09-12T03:36:30","date_gmt":"2025-09-12T03:36:30","guid":{"rendered":"https:\/\/wpt7ye0j6r.onrocket.site\/?page_id=367"},"modified":"2025-12-03T15:05:41","modified_gmt":"2025-12-03T07:05:41","slug":"accounting-services","status":"publish","type":"page","link":"https:\/\/setuphk.com\/en\/accounting-services\/","title":{"rendered":"Accounting services"},"content":{"rendered":"
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Home<\/a> \u203a Accounting services<\/p>\n\t\t\t\t\tTCSP licence TC009022<\/span>\n\t\t\t\t\t

Hong Kong Accounting<\/em> Services<\/h1>\n\t\t\t\t\t

From bookkeeping to profits tax return, SetupHK meets deadlines; you just send documents.<\/p>\n\t\t

\n \t\t\t\n\tWhatsApp us\n<\/a>\n\t\t\t\t\t\n\tCall +852 3845 2888\n<\/a>\n\t\t\n<\/div>\n\t\t\t\n\t\tCheck services you need\n\t<\/a><\/span>\n\t\t
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4.9\u2605<\/sub><\/b>123 Google reviews<\/span><\/p>\n\t\t\t\t\t

2014<\/b> years in business<\/span><\/p>\n\t\t\t\t\t

TC009022<\/b> Trust or Company Service Provider licence<\/span><\/p>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n\n<\/section>\n

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Must a limited company do accounting?<\/h2>\n\t\t\t\t\t

Yes. Three legal requirements apply from day one, trading or not.<\/p>\n\t\t

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Keep accounting records<\/h3>\n\t\t\t\t\t

Record daily income, expenses, assets and liabilities. Keep records for 7 years.<\/p>\n\t\t\t\t\t

Companies Ordinance, sections 373 and 377<\/p>\n\t\t\n<\/div>\n

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Annual audit<\/h3>\n\t\t\t\t\t

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.<\/p>\n\t\t\t\t\t

Companies Ordinance, sections 393, 394 and 359<\/p>\n\t\t\n<\/div>\n

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File the profits tax return<\/h3>\n\t\t\t\t\t

Complete the IRD's tax return and file it with the audited financial statements.<\/p>\n\t\t\t\t\t

section 51 of the Inland Revenue Ordinance<\/p>\n\t\t\n<\/div>\n\n<\/div>\n

\n \t\t\tWhat happens if I skip it?<\/span><\/span>\n\t\t
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What happens if I skip it?<\/h3>\n\t\t\t\t\t

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).<\/p>\n\t\t\t\t\t\n\tWhatsApp us\n<\/a>\n\t\t\n<\/div>\n

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\n \t\t\tNot keeping accounting records<\/span><\/span>\n\t\t\t\t\tDirectors can be fined HK$300,000<\/span>\n\t\t\n<\/div>\n
\n \t\t\tIf deliberate<\/span><\/span>\n\t\t\t\t\tPlus possible imprisonment of 12 months<\/span>\n\t\t\n<\/div>\n
\n \t\t\tNot filing tax returns on time<\/span><\/span>\n\t\t\t\t\tHK$10,000 fine, plus 3x tax undercharged<\/span>\n\t\t\n<\/div>\n
\n \t\t\tNever filing the return<\/span><\/span>\n\t\t\t\t\tIRD may issue an estimated assessment<\/span>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n
\n \t\t\t\n\t\tAudit requirements\n\t<\/a><\/span>\n\t\t\t\t\t\n\t\tAccounting vs audit\n\t<\/a><\/span>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/section>\n
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What do accounting services include?<\/h2>\n\t\t\t\t\t

Documents to tax return, handled by SetupHK; pick only the items you need.<\/p>\n\t\t

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Organising documents<\/h3>\n\t\t\t\t\t

Sort bank statements, invoices and receipts, then file them.<\/p>\n\t\t\n<\/div>\n\n<\/div>\n

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Bookkeeping<\/h3>\n\t\t\t\t\t

Record each transaction and reconcile with the bank.<\/p>\n\t\t\n<\/div>\n\n<\/div>\n

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Year-end and financial statements<\/h3>\n\t\t\t\t\t

Prepare profit and loss account and balance sheet for audit and tax.<\/p>\n\t\t\n<\/div>\n\n<\/div>\n

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Arranging the audit<\/h3>\n\t\t\t\t\t

Pass accounts to our partner CPA practice for audit, then follow up the report.<\/p>\n\t\t\t\t\tLegal requirement<\/span>\n\t\t\n<\/div>\n\n<\/div>\n

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Profits tax return<\/h3>\n\t\t\t\t\t

Complete and submit BIR51, and apply for an extension as tax representative if needed.<\/p>\n\t\t\t\t\tLegal requirement<\/span>\n\t\t\n<\/div>\n\n<\/div>\n

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Payroll and MPF records<\/h3>\n\t\t\t\t\t

For companies with staff: organise payroll records for the employer's return.<\/p>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n

\n \t\t\tWhy use a separate practising CPA for audit?<\/span><\/span>\n\t\t
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Why use a separate practising CPA for audit?<\/b>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.<\/p>\n\t\t

\n \t\t\t\n\t\tAudit services\n\t<\/a><\/span>\n\t\t\t\t\t\n\t\tIn-house or outsourced accounting\n\t<\/a><\/span>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/section>\n
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How are accounting services priced?<\/h2>\n\t\t\t\t\t

No standard price list: pick four items below, then send your quote details on WhatsApp.<\/p>\n\t\t

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Roughly how many documents a year?<\/h3>\n\t\t\n<\/div>\n\t\t\t

More transactions and invoices mean longer bookkeeping. Not sure? Check how many transactions your bank statements show a year.<\/p>\n\t\t

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\n \t\t\tUnder 100<\/span>\n\t\t\t\t\tDocuments per year<\/span>\n\t\t\n<\/div>\n
\n \t\t\t100\u2013500<\/span>\n\t\t\t\t\tDocuments per year<\/span>\n\t\t\n<\/div>\n
\n \t\t\tOver 500<\/span>\n\t\t\t\t\tDocuments per year<\/span>\n\t\t\n<\/div>\n
\n \t\t\tNot sure<\/span>\n\t\t\t\t\tWe estimate it for you<\/span>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n
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What type of business is it?<\/h3>\n\t\t\n<\/div>\n\t\t\t

Stock, property or cross-border dealings make the books more complex and take longer.<\/p>\n\t\t

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\n \t\t\tTrading and online stores<\/span>\n\t\t\t\t\tHas inventory<\/span>\n\t\t\n<\/div>\n
\n \t\t\tServices and consulting<\/span>\n\t\t\t\t\tMainly service income<\/span>\n\t\t\n<\/div>\n
\n \t\t\tFood, beverage and retail<\/span>\n\t\t\t\t\tWith inventory and staff<\/span>\n\t\t\n<\/div>\n
\n \t\t\tOther industries<\/span>\n\t\t\t\t\tExplain on WhatsApp<\/span>\n\t\t\n<\/div>\n\n<\/div>\n\n<\/div>\n
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Which services do you need?<\/h3>\n\t\t\n<\/div>\n\t\t\t

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.<\/p>\n\t\t

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\n \n<\/div>\n\t\t\tBookkeeping and year-end Includes financial statements<\/sub><\/span>\n\t\t
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\n \n<\/div>\n\t\t\tArranging the audit Audit by a practising CPA<\/sub><\/span>\n\t\t\t\t\tLegal requirement<\/span>\n\t\t\n<\/div>\n
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\n \n<\/div>\n\t\t\tProfits tax return BIR51 and extension<\/sub><\/span>\n\t\t\t\t\tLegal requirement<\/span>\n\t\t\n<\/div>\n
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\n \n<\/div>\n\t\t\tPayroll and MPF records Companies with employees<\/sub><\/span>\n\t\t
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\n \n<\/div>\n\t\t\tEmployer's return BIR56A, IR56B<\/sub><\/span>\n\t\t
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What is the company's year-end date?<\/h3>\n\t\t\n<\/div>\n\t\t\t

Your year-end date sets the extension deadline; the closer it is, the more rushed things get.<\/p>\n\t\t

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\n \t\t\t31 March<\/span>\n\t\t\t\t\tCode M<\/span>\n\t\t\n<\/div>\n
\n \t\t\t31 December<\/span>\n\t\t\t\t\tCode D<\/span>\n\t\t\n<\/div>\n
\n \t\t\tOther months<\/span>\n\t\t\t\t\tMostly Code N<\/span>\n\t\t\n<\/div>\n
\n \t\t\tNot yet decided<\/span>\n\t\t\t\t\tWe can advise<\/span>\n\t\t\n<\/div>\n\n<\/div>\n\t\t\t

Pick a year-end date to see how far the 2025\/26 tax return can be extended.<\/p>\n\t\t\n<\/div>\n\n<\/div>\n