Payroll, VAT and tax returns.

01

Payroll administration

Payroll runs, payslips and everything around them, every month.

We calculate salary, holiday pay, sick pay with the qualifying deduction, unsocial hours supplements, overtime and any benefits, and send a payslip to each employee. The payment file comes to you for approval, so money never leaves the company without your yes. The underlying data is reported to Skatteverket in the employer declaration.

Holiday pay is what is most often miscalculated in a small company. The two permitted methods give different results, and which applies depends on the type of employment and how the salary is structured. The holiday pay liability must also be provided for in the books, otherwise the result shows a profit that does not exist.

Benefits are the other area. A company car, wellness allowance above the limit, free parking and staff discounts all have their own rules for when they are tax free and how they are valued. We assess each benefit and report it correctly, so it does not appear as a surprise in the employee's tax return.

02

VAT reporting

The right VAT rate, the right period, filed on time.

We compile output and input VAT per period and file the VAT return. How often depends on the company's turnover: smaller companies report annually, most quarterly and larger companies monthly. We make sure the company is on the right period and change it when turnover changes.

There are three VAT rates. Most things sit at 25 per cent, food and restaurant meals at 12, and books, newspapers and passenger transport at 6. On top of that there is business that is exempt entirely, such as healthcare, dental care and education, and there the company may not deduct VAT on its purchases either. If you run mixed operations the input VAT must be apportioned, and that is where the errors usually sit.

Cross border trade has its own rules. Selling to a VAT registered business in another EU country means invoicing without VAT but filing an EC sales list. Buying services from abroad triggers reverse charge, meaning you report both output and input VAT yourself. We handle both.

03

Employer declarations

Reporting at individual level every month, with the right contributions.

The employer declaration is filed monthly and reports, per employee, what has been paid out, what tax has been withheld and what employer contributions are due. Since individual level reporting was introduced there are no annual statements to correct afterwards, which means an error has to be corrected in the period where it arose.

Employer contributions are not the same for everyone. The employee's age governs the rate, and lower contributions apply for the youngest and oldest. There are also reductions and support schemes that may be relevant depending on the situation. We apply the right rate per person rather than one blanket figure for the whole company.

The declaration and the payment share a due date, normally the 12th of the month following payment, with exceptions in January and August. We file on time and tell you exactly what amount must be on the tax account and on which date.

04

Income tax returns for limited companies and sole traders

The company's return, and your own where they connect.

For limited companies we prepare the corporate tax return with the accompanying tax adjustments. The accounting result is rarely the same as the taxable result: entertainment expenses, certain taxes, allocations to the tax allocation reserve and excess depreciation adjust the figure in different directions. We calculate the taxable result and make sure the allocations are used where they actually help.

If you are a shareholder in a closely held company we also prepare the K10 documentation. It determines how much you can take as a dividend at the lower tax rate, and the allowance is calculated either under the simplification rule or under the salary based rule. Which gives more depends on the company's salaries and your own drawings during the year, and the decision has to be made while the year is running.

For sole traders it is the NE schedule to your personal tax return, with social security contributions, any interest allocation and allocations to the expansion fund. Here the line between the business and your private finances is decisive, and we keep it clear so the deductions hold up under review.