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Tax Filing

Overview

Specialized knowledge of tax and statutory requirements for business structures and sectors. Dedicated teams to provide clear understanding of obligations and advice tailored solutions. Optimize tax positions and minimize the overall tax burden. Provide the practical steps that deliver confidence, consistency and compliance.

Hong Kong Tax Filing

There are 2 mandatory duties which a Hong Kong company needs to fulfill to the Hong Kong Government annually. They are Profit Tax Return and Employer’s Return.

1. Profits Tax Return
First Profits Tax Return of the company will be issued by the Inland Revenue Department (IRD) approximately after 18 months of incorporation. The company is required to complete and submit the Profits Tax Return together with a set of audited account to the IRD in order to determine the amount of tax required to pay in respect of the basis period. Generally, first year accounting and auditing will take a longer time to complete. And according to the Hong Kong Companies Ordinance, the annual financial statements of all Hong Kong Limited Companies must be audited by Certified Public Accountant (CPA) for submission, it is recommended to arrange an accountant as soon as possible. Once the Profits Tax Return is submitted, it is difficult to change afterward.
2. Employer’s Return
Every first week of April, the Inland Revenue Department will issue an Employer’s Return (IR56A&B) to the company. The employer has obligation to and MUST complete and submit the Employer’s Return within 1 month regardless of whether the company has hired the employee or not. Delay will attract fine.
3. Fee
Kind of Tax ReturnFee (US$)
Profit Tax Return US$ 300
Employer’s return US$ 200
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United Kingdom Tax Filing
CompaniesFiling a corporate tax returnPay Corporation Tax
Private Limited Company (LTD) 12 months after accounting period 9 months + 1 day
Limited Liability Partnership (LLP) 12 months after accounting period 9 months + 1 day
Dormant Company No tax return
Services fee
Turnover (GBP)Fee
Dormant US$ 499
Below 30,000 US$ 1,386
30,000 to 74,999 US$ 3,110
75,000 to 99,999 US$ 3,432
100,000 to 149,999 US$ 4,979
150,000 to 249,999 US$ 6,695
250,000 to 300,000 US$ 8,925
Above 300,000 To be confirmed
Note: Services fee are inclusive
UK Companies House
  • Completion of abbreviated accounts/ unfillet accounts/ full set accounts
  • Filling the accounts
UK HMRC
  • Prepare Tax Computation
  • Submission of the corporation tax return (CT600) to HMRC
  • Completion and submission of the partnership tax return
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Singapore Tax Filing

Filing Estimated Chargeable Income (ECI):

ECI is an estimate of the company’s taxable income (after deducting tax-allowable expenses) for a Year of Assessment (YA)


Services fee

Our corporate tax services include:

  • Assisting with the submission of Estimated Chargeable Income (ECI)
  • Corporate tax computation and tax return (Form C/C-S)
  Tax Return
ECI (*) Form C-S Form C
Company US$ 500 US$ 499 US$ 699
Form C-S The company must meet all the four criteria in order to file Form C-S (*).
C If your company does not qualify to file Form C-S, you must submit Form C
Filing of Income Tax return:
Due date 30 November
15 December (e-filing)

(*) From YA 2017, companies will qualify to file Form C-S if they meet all of the following conditions:

  • The company must be incorporated in Singapore;
  • The company must have an annual revenue of $5 million or below
  • The company only derives income taxable at the prevailing corporate tax rate of 17%; and
  • The company is not claiming any of the following in the YA:
  1. Carry-back of Current Year Capital Allowances/ Losses
  2. Group Relief
  3. Investment Allowance
  4. Foreign Tax Credit and Tax Deducted at Source
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Delaware Franchise Tax Filing

The franchise tax for Delaware corporations, LLCs is due once a year on a particular date:

Corporations

Franchise tax for Delaware corporations is due by March 1 each year. Corporations may pay the tax before March 1. Delaware Corporations that do not pay on time will automatically be assessed a $125 late fee, as well as a 1.5 percent monthly interest penalty. For a corporation with under 5,000 shares, the tax is $175 plus a $50 filing fee.

LLCs

Delaware LLC must pay an annual franchise tax to the state of Delaware by June 1. Like Delaware corporations, LLCs may pay early before June 1. The fee for LLCs is only $300 per year. Failure to pay on time will result in a $200 late fee and a 1.5 percent monthly interest penalty.

Again, all Delaware LLCs owe an annual franchise tax of $300. This is a flat fee for all LLCs, making the tax simple to budget. It is a small price to pay for the benefits afforded to you under Delaware law.

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