For any business owner in Portugal, it’s important to hire a certified accountant who can handle all accounting aspects and bookkeeping needs in Portugal. In this article we’ll discuss five reasons why having an accountant on your side can benefit you; your business and the financial health of your company.
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To Avoid Legal Consequences
You may not be aware of this, but in the event that your company is audited by the Portuguese Tax Authority or the financial crimes division, it’s possible that legal consequences will apply if you are not able to produce any documentation of your certified accountant. So even if you’re based outside of Portugal, always make sure to keep your documents in-country for accountability purposes.
To Avoid Penalty Fees
While it might be cheaper to manage your own accounts, hiring an accountant in Portugal is a must when considering all potential outcomes, including fines. Due to the fact that it’s mandatory to have a certified accountant when creating a company, it’s unlikely you’ll be fined for mistakes since you wouldn’t be in the position to make them.
Those who disobey the rules in Portugal can be subjected to hefty fines, but with RHJ Accountants & Associates as a dependable accountant, we will warn you about any problem well before it gets out of hand.
To Avoid Personal Liability
Not having a certified accountant in Portugal will not only put your company at risk for fines or other penalties. And it also exposes you and the company to personal liability. For example, if you do not have a certified accountant in Portugal; and are audited by the IRS for not filing your taxes correctly; then you may be personally liable for not filing taxes correctly. That being said; there are some taxes which can’t be filed without the aid of a certified accountant. Which is why RHJ Accountants recommend getting one when setting up your business.
If this is not reason enough to hire an accounting firm with a certified accountant in Portugal, then consider that it may be cheaper than risking personal liability.
For Tax Savings Purposes
A certified accountant can help your company save taxes in Portugal. Most of the time, tax savings is the main reason for hiring an accountant but there are other benefits as well. An accountant will help you stay organised, keep track of receipts and expenses, and maintain records to help your company’s growth. To learn more about how an accountant can benefit your company, contact us today!
To be Tax Compliant
An accountant in Portugal can help you stay compliant with tax laws and keep your company running smoothly. To be tax compliant, an accountant will provide you with a yearly financial statement and file your taxes. Your accountant will also take care of any other accounting tasks that come up throughout the year. They’ll keep track of your payments and purchases, bill clients appropriately, and manage budgets.
How RHJ Accountants Can Help
We recognise more than ever that individuals and businesses from the UK and other countries may be globally mobile. We aim to make you aware of the tax-efficient opportunities, available tax relief and structure finances for life at home and abroad.
Our international team of specialists operate from offices in the UK and Portugal. We work together synergistically to provide tax efficient solutions to our clients to help them grow their business whilst keeping tax liabilities to a minimum.
Get in touch with us today to find out more, or to make use of our services.
