Spain Accountancy Services

We have an office in the centre of Madrid, which includes a complete fully compliant Chartered Accountancy practice. The practice includes two qualified accountants, and support staff with many years of experience.

For a Spanish company, we do the following:

Regular Quarterly or Monthly Accounting

A company in Spain, by default, has to produce quarterly statements for the payment of

  • VAT
  • Professional advanced income tax payments
  • Withholding taxes on payment of rents
  • Retentions of any payments to tax haven companies

Sometimes, other models need to be produced, even on a monthly basis; for example if a company has grown to a certain size, or if a company is awaiting regular repayments of VAT, because of exporting.

  • Intrastat returns
  • Report on transactions with other countries

Payroll and Professional retentions work

In a different category is work on people paid through a Spanish payroll, and work on transactions with self-employed people, who a offering services to a client company.

On a monthly basis we need to:

  • run a payroll
  • lodge a form on social security payments made
  • organise payments in accordance with the law

Regular Annual Accounting

All companies, even if they have no activity, need to produce annual records, although in some cases these will be restricted.

In January we need to:

  • produce a yearly summary of transactions with VAT, split into quarters
  • produce a yearly summary of payroll payroll and retentions for professional work; split into details for each person paid. This is used by the tax authorities to produce draft personal tax returns

If books are produced on our system of accounting, we try to close off the books, and produce the reports based on the records kept here

In April we will:

  • produce and legalise the nominal ledger (libro mayor) with the Mercantile Registry. This is often done in electronic format
  • produce and legalise the journal (el diario) of the company

In June or July we will:

  • produce the annual accounts in the Mercantile Registry format- the document is usually 44 pages in length and is supplemented by notes to the accounts where required. Apart from the Balance Sheet and Profit statements, there are statements about movements on reserves, which are not required in many other countries
  • produce a similar statement for the payment of Corporation Tax. This document contains similar information and is 48 pages long. Accounting for tax is similar to accounting for statutory purposes, except in some areas such as depreciation of fixed assets.