Accountancy Services

A company needs to keep details of:

Directors, Shareholders and the Company Secretary
The results of any shareholder votes and resolutions
Share transactions and any details where beneficiaries are different to the named owners
Loans or mortgages secured on the company’s assets

Accounts must show details of:

All money received and spent by the company
Price, location and depreciation records of all assets owned by the company
Details of all debts that the company owes or is owed
Proper records of all stock that the company owns at the end of the financial year
Records of how stock is valued for accounts – there are accounting rules on this, and we can advise you
A record of all goods bought and sold
The name, residence and physical locations of the people or companies from a to whom the goods were bought from and sold to

Filing Company Accounts for the Gibraltar company

To ensure that your company is kept in Good Standing, we can prepare and submit the company accounts, annual return and tax returns on your behalf.

A chartered accountant on our staff will assist you with all matters related to tax and accountancy.

Corporation Tax filing for the Gibraltar company

A company that is incorporated in Gibraltar and has no activity there is not taxed in Gibraltar although it needs to register for Corporation Tax and needs to file an Annual Tax Return together with Accounts.

This includes the filing of accounts, even where the company has no income and the accounts will be dormant.

From your accounting records, we can compile your annual accounts in accordance with Gibraltar Companies Accounts Ordinance of 1999 as modified, and in accordance with international generally accepted accounting practice.

The Income Tax (Amendment) Act 2015 now includes the need for every Gibraltar company to have a Tax Identification Number (TIN).

The filing of these accounts with the Tax Office must be done within nine months of the company’s financial year-end. It is important that the tax return and accounts are filed; financial penalties are imposed for late submission and the company will lose its status of good standing.

The CT3 form that needs to be filled in to register for Corporation Tax requires:

Statutory information about the company
Trading address
Details about the activity
Details about the date to which the company will prepare the accounts

Details of shareholders’ and directors’ names and addresses will also need to be given, as we have to disclose information which shows that parties are not resident in Gibraltar.

The company will then be issued with a Tax Identification Number (TIN), and subsequent correspondence with the Income Tax Office will be referenced to this number.

Tax Representative for a Gibraltar company

As part of the initial work, a company is expected to appoint a professional tax representative.

Accounting and Tax

A company incorporated in Gibraltar needs to register for Corporation Tax and submit tax returns, and file company accounts in the format used in the United Kingdom. While no tax is payable in Gibraltar, if the business is elsewhere,

We advise you on what is needed; and ensure that you keep the correct records for your company from the start of your business
We obtain the obligatory tax identification number for you
We keep your company in good standing; by compiling and filing the statutory accounts in the format required and on time
We ensure that tax returns are lodged on time, and recorded by the tax authorities

Gibraltar Corporation Tax Return

After the lodging of the accounts, we need lodge the Corporation Tax Return (CT1).

In most cases, we simply have to lodge accounts and prove that the company does not trade in Gibraltar.

This means we need to:

Obtain proofs of the company trading address
Obtain proofs of the nature of business undertaken
Lodge accounts for the period of account chosen on the original CT3

Note that when the tax return is filed, typically we will already have ensured the:

Appointment of tax representative for the company
Due diligence related to the appointment

The CT3 form asks for the name and profession of representative. In our case it is a Chartered Accountant in the Institute for England and Wales.

Then lodging a copy of accounts in accordance with Gibraltar Companies Accounts Ordinance of 1999 as modified, and in accordance with international generally accepted accounting practice with:

Balance Sheet
Profit and Loss for the period
Report of the Directors
Notes to the Accounts

Accounting Services for Irish Companies

We can organise the following which can be needed to make the company operative:

Informing Revenue Commissioners and supplying details of the new company
Registering for VAT
Register for PAYE/PRSI
Register with Revenue Commissioners for Corporation Tax

Our comprehensive accountancy service combines tax compliance with the production of the Irish company’s accounts. We can then organise and lodge periodic and annual accounts as well as corporation tax returns. Therefore, we would be able to

Compile and lodge the annual accounts with the Company Registration Office in accordance with accounting rules and legislation
Compile and lodge the accounts and a corporation tax returns with the tax authorities in due time, in accordance with the rules about what needs to be lodged

Annual Returns

Every Irish company is obliged to file an annual return each year at the Companies Registration Office. The first annual return is due for filing with the Companies Registration Office 6 months after incorporation.

The date for filing of your annual returns remain the same each year.

The second and all subsequent annual returns require accounts to be annexed when filing.

The following information must be provided for the annual return:

Date of the return
Company Name
Company Registration Number
Registered office address
Any address where the statutory documents may be kept
Name and address of company secretary
Any political donations made by the company
Authorised share capital
Issued share capital
Details of payment of the shares
List of shareholders on the date of the return
List of persons who have ceased to be members since the last return
Details of shares transferred since the last return
Directors’ names
Directors’ dates of birth
Directors’ nationality
Directors’ residential address or address for notification
Directors’ occupations
Details of directors’ all other directorships of companies

UK Accountancy Services

Companies in the UK have to maintain accounting records, Our comprehensive accountancy service combines compliance with the production of the company’s accounts.

Our experience of accountancy and tax & financial planning means we can provide a fixed fee, limited company Accountancy Services.

Our inclusive low cost fixed fee accountancy packages includes completion of accounts, corporation tax computations, your own dedicated accountant and filing your Confirmation Statement.

We tailor our accountancy packages to suit your business needs, with no hidden fees and no extra charges. Choose from one of our packages, or ask us to quote you.

A UK company needs to keep accounting records that include:

all money received and spent by the company
price, location and depreciation records of all assets owned by the company
details of all debts that the company owes or is owed
proper records of all stock that the company owns at the end of the financial year
records of how stock is valued for accounts- there are accounting rules on this, and we can advise you
who the goods were bought from and sold to- this is very important for VAT purposes

UK Tax Return

All UK companies; whether they are limited companies or limited partnerships need to lodge tax returns.

This includes

A full copy of statutory accounts in UK generally accepted accounting format
All records of money transactions including bank account records
All records of money spent on behalf of the company, including petty cash
All receipts of money: invoices, contracts, sales books and till rolls

Corporation Tax UK

The UK operates a self assessment system for corporation tax. This means that it is up to the taxpayer to state that corporation tax is due, and to register for taxes and to file returns accordingly. It is not the responsibility of HM Revenue & Customs to work out how much corporation tax to pay, so if a company starts, and they do not register for corporation tax, then they will be fined.

The company must

inform the HMRC that they have started business by registering on-line. This is usually done by the tax agent
file a company tax return and supporting documents online and in the format iXBRL

Accounting Services

The basic price for accounting services is based on the number of the monthly accounting entries (documents like sales and purchase invoice, receipts, report etc).

The price includes all the following services, as needed:

Checking and entering of source documents (general ledger)
Collection of source documents
Fixed Assets accounting
Settlements with reporting persons
Purchase and sales ledgers
VAT, tax accounting, tax reporting
Appointment as tax agent for the company
Advice on status for VAT or other schemes related to indirect tax

Annual accounts and submission of Tax Return

Compiling and lodging the annual accounts electronically in iXBRL format to the Registry of Companies in accordance with accounting rules and legislation
Advice on what sort of accounts and details that should be filed for the Registry
Compiling and lodging the annual electronically in iXBRL format to lodge with the tax authorities in due time, in accordance with the rules about what needs to be lodged

Accountancy