Accounting Services for S.L. (LLC)

In Spain, accounting typically does not include internal documentation. Instead, it consists of external accounting (taxcalculation and filing) and payroll. There are different types of specialists for these services, including those focused solely on labor law compliance, tax accountants, and auditors.

Our experts provide a comprehensive service, combining accounting and auditing. This allows our clients to benefit from cost-efficient bookkeeping while maximizing tax incentives in their industry.

Our services for S.L. companies include:

• Review of incoming and outgoing invoices for compliance with Spanish legislation.
• Calculation of company income and expenses.
• Payroll processing and IRPF (personal income tax) calculation.
• Preparation of financial statements.
• Calculation of quarterly and annual tax liabilities.
• Submission of tax returns to the authorities.
• Ongoing consulting for management on any accounting-related issues.
• Timely updates on changes in taxation and accounting laws.

Spain, as an EU member, follows European directives on accounting, auditing, and financial reporting. Accounting principles (GAAP) are detailed in the Plan General de Contabilidad (PGC). Rules and practices are outlined in the Commercial Code, and further guidance is available from ICAC and AECA.

Taxes are calculated quarterly and annually, and S.L. companies are required to file reports detailing their operations, including balance sheets, profit and loss statements, and more.

Failing to file tax returns or accounting documents on time can lead to fines ranging from €1,200 to €60,000, depending on the size of the business. However, if reports are submitted before the penalty is officially issued, the fine can be reduced by up to 50%.