Accountant in Taikoo Shing

Software (Xero, QuickBooks) handles day-to-day bookkeeping well, but an accountant adds value at year-end for tax filing, compliance and planning. Many businesses run software themselves and pay an accountant only for the annual accounts and tax return.

In Taikoo Shing, ask other business owners for referrals, confirm the firm holds a recognised professional-body membership, and check they know your industry. A short intro call plus a clear fixed-fee proposal beats picking on price alone.

Common triggers: incorporating a company, hitting the VAT/GST registration threshold, taking on employees, or spending too many hours on the books yourself. Engaging one before year-end (not the week the return is due) gets you planning value, not just compliance.

A bookkeeper records transactions, reconciles accounts and runs payroll. An accountant prepares statutory accounts, files tax, and advises on structure and planning. Small firms often use a bookkeeper monthly and an accountant annually.

Most accountants now price by fixed monthly package rather than the hour. A sole trader's annual return is a modest one-off fee; a small limited company's year-end accounts plus tax filing is a mid three- to four-figure annual cost; ongoing bookkeeping and payroll add a monthly retainer on top.

Yes — legitimate planning around business structure, allowable expenses, pension contributions, timing of income, and available reliefs is core work. Be wary of anyone promoting aggressive 'schemes'; if it sounds too good, it usually attracts penalties later.

The Companies Ordinance requires all limited companies to have audited financial statements each year, regardless of size — Hong Kong has no audit exemption. This drives the bulk of annual accounting cost, so factor it in from incorporation.