Managing a business in Spain

MANAGING YOUR BUSINESS IN SPAIN

Spanish bureaucracy is notoriously slow and expensive. Sol Accounting is here to guide you through the maze and to find the most cost-effective solutions.

We provide different levels of service to suit businesses of all sizes. Sole traders and small firms may simply need help to submit accounts and tax returns and comply with regulations. Bigger businesses may require a higher level of support to ensure they are managing their finances effectively.

For those companies which need day to day assistance we can provide a full-time support service to save them employing staff directly.

We make regular visits to clients’ premises and can provide on-site bookkeeping for clients who prefer this.

 

Complying with Spanish regulations

All businesses need a minimum level of accountancy support to help them meet their ongoing financial and legal obligations.

Annual accounts and tax returns

Business books have to be kept in Spanish, and in the approved format. There are different rules and additional requirements from the UK for IVA, the Spanish equivalent of VAT, and for IRPF, which is similar to PAYE but also covers some rents and professionals as well as employees. We can advise on all of these, and teach you how to do them as your business grows.

We advise and assist with preparing all of the necessary tax returns. Our team of tax specialists and lawyers will help you deal with all types of inspections and appeals through the tax tribunals and higher courts.

Staff payrolls and social security

The rules and pitfalls of employing staff in Spain are legion. We help calculate wages, prepare the payrolls and the social security (NI) paperwork for your employees.

Employment law issues

Our employment lawyers can also put contracts in place if you are taking on new staff and help with any issues arising from labour inspections or unfair dismissal claims, as well as all aspects of employment law and appeals through the labour tribunals and higher courts.

Maximising your profitability

Monthly management accounts

Monthly accounts allow you to analyse sales trends and monitor costs, and compare these with budget forecasts and previous years’ results to ensure no cash-flow is missing.

Cashflow management

Even highly profitable businesses can run into difficulty if they fail to manage cash-flow properly. Sol Accounting can analyse historical movements and make projections to help you control your cash.

Credit control

We can help to ensure that your clients pay on time, and take the appropriate steps if they do not.

Internal and external audits

Sol Accounting can provide external audit services to companies which desire or are required to be independently audited by a registered Spanish Auditor.

For clients who want to take a closer look at their accounts, an internal audit can help ensure that the right procedures are in place, costs are under control, cash movements are transparent and reconciled, and the supporting documents are justified.

Buying and selling businesses

For those interested in buying a business, Sol Accounting can study its accounts, analyse its assets and liabilities and give an opinion on its value.

For owners who are planning to sell their business but have inaccurate or incomplete accounts, we will reconstruct accounts using the information available to enable you to present them to prospective buyers.

Full-time accounting support

Bigger companies often require full-time accounting and administration support but might be reluctant to employ staff. Sol Accounting can help you manage day to day tasks such as calculating payrolls, paying suppliers, banking, bookkeeping, reconciliations and IT systems. We offer an alternative to employing staff and will come to your office as often as required.