Tax advisory
Annual accounts & tax returns
We prepare annual financial statements and tax returns for businesses, self-employed professionals and private individuals. We discuss the results, tax burden and upcoming payments with you in plain terms.
Service area Tax advisory
What matters to you
At the end of each financial year, the annual accounts and a series of interlinked tax returns are due. The accounting figures are checked, valued and presented in the form required by Italian civil and tax law.
We coordinate closing work and tax returns and discuss open questions early on. In doing so, we review valuations, tax adjustments and possible tax benefits.
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Balance sheet and annual financial statements
We prepare your annual financial statements in accordance with the rules applicable to your company and Italian accounting standards. We check which components are required and whether simplifications for smaller companies can be used. Where a management report is required, we treat it as a separate accompanying document.
The financial statements are generally approved by the shareholders’ meeting within 120 days of the end of the financial year, or within 180 days in justified cases. They must then be filed with the Companies Register (Registro delle imprese). We prepare the financial statements, resolutions and filing.
Income taxes and IRAP
Taxation depends on the legal form and the activity. Corporations are generally subject to IRES; for sole proprietorships and partnerships, income is generally taxed at the level of the owner or the partners. We check for your case whether IRAP is also due and which returns are required.
The return determines the balance due and the advance payments for the following year. We calculate both, consider alternatives such as advance payments based on the expected result, and take account of deductions, tax credits and loss carry-forwards.
- Modello Redditi for companies, partnerships and individuals
- Form 730 for employees and pensioners
- IRAP return
- Calculation of balance and advance payments
Annual VAT return and withholding agent
In the annual VAT return, we consolidate the data for the year. If there is a credit, we assess whether to carry it forward, offset it or claim a refund, and clarify whether a compliance certificate (visto di conformità), a guarantee or further evidence is required.
Anyone who pays wages, fees or other remuneration subject to withholding tax is a withholding agent (sostituto d’imposta). They issue the Certificazione Unica to recipients and file the withholding agent’s return (Modello 770). We make sure this data is consistent with payroll and the accounts.
What to watch out for
Common sources of error include the timing of income and expenses, only partially deductible costs such as vehicles or entertainment, inventory valuation and the treatment of depreciation. Differences between the statutory and tax accounts must also be properly documented.
For many businesses and professionals, the synthetic tax reliability indices (ISA), submitted with the tax return, also play a role. We analyse the results and discuss with you whether any action is needed.
Step by step
How we work together
Preparing the annual accounts
We go through the stocktake, open items, accruals and deferrals and any special transactions of the year with you.
Draft and discussion
We prepare the financial statements and the calculation of taxable income and discuss the results, valuations and tax burden with you.
Approval and returns
We prepare the resolutions and filing and submit the tax returns within the statutory deadlines.
Payments and outlook
We plan the balance payment and advance payments with you and point out what to bear in mind for tax purposes in the new year.
Frequently asked questions
Answers on annual accounts, tax returns and advance payments.
By when must the financial statements be approved?
As a rule, within 120 days of the end of the financial year, or within 180 days if the articles of association allow it and there are special reasons. This is followed by filing with the Business Register. We plan the dates so that there is enough time for coordination.
Can I reduce my tax prepayments?
Advance payments are usually calculated on the basis of the previous year. If it is foreseeable that the current year will be significantly weaker, they can also be based on the expected result. This carries the risk of additional payments with penalties if the estimate was too low, so we check this carefully.
Do I need a tax adviser as a private individual?
In straightforward cases, the pre-filled Modello 730 is often sufficient. As soon as rental income, foreign income, renovation deductions or shareholdings come into play, it is worth having us review it. Especially in cross-border cases, errors are otherwise common.
Who signs the returns?
The returns are signed by the taxpayer or by the company’s legal representative. As the authorised intermediary, we file them electronically with the Revenue Agency (Agenzia delle Entrate) and confirm the submission to you.
How can we help you?
In the initial meeting, we clarify your request and discuss what support you need.