It is a legal requirement in Hungary that all companies must have an accountant. This also applies to companies that do not have any company activity or income yet. Notably, even inactive companies have to submit monthly, quarterly, yearly and ad-hoc reports to the authorities. In most cases, the company’s accountant is the only one allowed to submit these reports on the company’s behalf.
When comparing accountancy providers, one of the first things you usually consider is price. After all, every accountant has to submit the same documents, don’t they? Why pay more for the same service?
The difference between two accountants can be as big as the difference between flying with a budget airline and flying business class. Both will get you to your destination, but how enjoyable will your experience be? Will you have to pay extra for every sip of water or enjoy an all-inclusive service? Will you be treated as a chore to be gotten over with or as a valued customer?
In our 10+ years assisting foreign businesspeople in Hungary, we have gained a thorough overview of accountancy providers. The first and biggest problem we identified is that most accountants servicing the small and medium business sector speak no or very little English.
Another frequent problem is charging extra for every report submitted, every question answered, every reminder sent. Of course, these fees are usually hidden in the small print of their offers, dwarfed by the low monthly fees.
Finally, most accountants are used to dealing with Hungarian customers, who are aware of existing regulations and deadlines. You didn’t know that you had to submit your invoices two days ago? Too bad for you.
After having worked with several accountancy partners in the past, we recognised our clients’ needs for competent, English-speaking accounting services. Our team of accountants all speak proficient English and know that the majority of our clients are unfamiliar with Hungarian taxation rules. In addition to their expertise in international (EU and third country) trade and business, they also know the most common pitfalls foreign businessmen face – and how to avoid them.
Our accountancy service packages were tailored to our customer’s needs, and include preparing and submitting all the compulsory reports, as well as some optional but frequently required tasks. With Helpers, you will not only get competent accountancy and payroll services for your company, but also a friendly and readily available team who will inform you of all the taxation and reporting obligations you have. Contact us today to ask about your options.
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