Hi all. We have been using the same auditor for our Limited Company for the past few years, however not sure if we've been getting a good deal? We only have our experiences in Australia to compare it against and the price goes up each year here without much variation in the number of entries/transactions. The only thing really keeping us there is that the same company takes care of all our visa/immigration stuff as well, and have done so since day dot. Also, does anyone else find the whole process a little confusing? Never really seem to have a firm grasp on what it is we're being charged for, despite their explanation/s? By that, I mean even though we get a quote, we often get 'sundry' fees and charges throughout the year.
One of the other issues that occurs each year is when our tax advisory and prep is done, they send us the amount owing to the IRD with an invoice for our preparation fee (from them), but then they tell us that for an extra (substantial) fee, they can save us $xxxxx on the amount of tax payable? Is this normal practice? Wouldn't you just prepare your client's tax so that they're paying the least amount possible from the outset? Below is the quote we've just received. We may well be getting a reasonable deal, but as mentioned previously, just curious to know what others pay in comparison. Would appreciate your thoughts and/or personal experience. TIA.
Accounting
Accounting Management Reports
- For the Year from 1 Jan 2015 to 31 Dec 2015
- Total: 12 months
- Subject to number of monthly transaction less than 60
Cost: HK$12,600
Auditing
Audited Financial Statements
- For the Year ended 31 Dec 2015
- Subject to turnover/ investment value being below HK$3,000,000
Cost: HK$6,300
Tax
Tax Advisory and Arrangement
- Preparation of tax proposal with detailed tax calculation and projection,
- Co-ordination of Accounting Reports to well match mentioned tax arrangement,
- Preparation of required documents to fulfill the status of Tax Arrangement,
- Filing and Submission of documents to state the Tax Status to fulfil the IRD requirements.
Cost: HK$16,000
Tax
Filing and Submission of Employer’s Return (in Apr 2016)
- For the Year of Assessment 2015/2016
- Inclusive of reporting for 2 Directors
- Complimentary upon confirmation of Tax Arrangement Service in advance
Cost: N/A
Tax
Filing and Submission of Directors’ Individual Tax Returns (in May 2016)
- For the Year of Assessment 2015/2016
- Inclusive of reporting for 2 Directors
- Complimentary upon confirmation of Tax Arrangement Service in advance
Cost: N/A
Total: HK$34,900