IRAS.

ACRA.

The 2 Regulators That You Don't Want to Mess Around With

WHAT ATHEL DOES FOR OUR CLIENTS?

As a business owner, chances are you probably receive a Notice Letter at one point of your career from IRAS or ACRA to remind you of your filing obligations such as AGM or ECI. Athel specialises in the compliance filings of SMEs to regulators.

THE 3 MOST IMPORTANT FILING DUE DATES ARE:

Important Filing Dates

Within 6 months from FYE

• Convene AGM to table financial statements.

Within 1 month after AGM

• Submit AGM details and declarations.

By 30th November next year

• Submit Tax computation and tax schedule.

HOW TO COMPLY WITH IRAS AND ACRA?

Being in compliance with ACRA and IRAS simply means preparing a standard set of accounts. Because with the accounts, a Company may:

Convene an Annual General Meeting (AGM) in order to file Annual Return (AR) to ACRA
AND
Prepare tax computation in order to file Corporate Income Tax to IRAS

Stages of filing of accounts looks Ike the below:

1

STEP 1: PREPARE MANAGEMENT ACCOUNTS

Preparation of accounts starts from the preparation of source document such as sales invoices and payment vouchers. Information are entered into computerised accounting system to generate Management Accounts such as a Profit or Loss statement (Companies Act S199).

2

STEP 2: PREPARE FINANCIAL STATEMENTS AND TAX COMPUTATION

With the information from management accounts, we can prepare Unaudited Financial Statements (UFS) in accordance to Financial Reporting Standards (FRS) and tax computation in accordance to Income Tax Act Cap 134.

3

STEP 3: FILING TO IRAS AND ACRA

With the UFS and tax computation, we may convene AGM, filing Annual Return to ACRA and tax forms to IRAS.

ACCOUNTS OUTSOURCING

HOW DOES IT WORK?

By outsourcing your accounts and filing obligations to a qualified accountant, you free up precious time to focus on your core business.

In a typical engagement of 2-4 weeks from the collection of document, our clients only have to maintain source documents such as sales invoices, payment vouchers and bank statements.

After which, Athel takes over, hassle free!

During the Year

Athel accesses client’s filing system & gives recommendations.

After Year Ended

Athel collects source documents and prepares management accounts.

Completion of Accounts

Client approves Management accounts and Athel files to ACRA and IRAS.

What Do We Do?

Athel provides a full suite of integrated services designed for a SME to have hassle free filing season

Accounting Services

  • Record Keeping for invoice & payment
  • GST computation
  • Compilation of Financial Statements
  • Bookkeeping in QuickBooks/MYOB

Corporate Secretary Services

  • Named Company Secretary
  • Preparation of Standard AGM documents
  • Submission of Annual Return
  • E-Reminder Service to remind Company of deadlines
  • Maintenance of Statutory Registers

Tax Services

  • Preparation of Estimated Chargeable Income (ECI)
  • Preparation of Tax Forms with Supporting Schedule
  • Corporate Tax Planning
  • Submission of Employment Income (Auto Inclusion Scheme)

WILL ATHEL FIT INTO YOUR BUSINESS MODEL?

WHO WE SERVE AND WHO WE DONT

We believe that a business owner’s accountant is also his/her business partner, and a mismatch can be costly to both parties.

Throughout the years of practice, we have selected our target clients and developed resources and capabilities to serve them accordingly.

With limited capacities as a small firm, we conserve our capacities by leaving some clients who require the services of a bigger accounting firm to the bigger accounting firms.

A) We Serve More Than 70 Active SMEs, and a typical client is:

  • SME with 1-5 shareholders, 2-20 staff, and an annual turnover from $100k to $10mil, who:
  • Wishes to outsource their accounting obligations to focus on their core business such as sales and operation activities, and:
  • Needs a qualified and capable accountant to provide value-adding advice.

B) We Have To Let You Go – If you:

  • Do not believe in Accountancy and that Accountants who can provide an Accountancy Edge to business.
  • Are not willing to put in any effort to implement accounting procedures,
  • Have a complex need that will be better served by a mid-tier or big-4 accounting firm,
Athel Corporate Advisory Pte Ltd
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“We understand how entrepreneurs think. Because we are running a business too.”

Toh Xuhua
Chartered Accountant Singapore
Managing Director
(Athel Corporate Advisory)

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