- Concierge Services
Helping Businesses Grow with Smart Accounting
- Concierge Services
Concierge Services
IFRS – Bookkeeping
- IFRS 15 – Identify bundled services
- Revenue recognized over time or at completion
- Advance receipts treated as deferred income
VAT (FTA)
- Generally standard-rated
- VAT on retainers & service charges
- Advance VAT applicable at receipt/payment date
Corporate Tax
- Matching of income & expenses essential
- Salaries & outsourced services deductible if justified ________________________________________
- Related party pricing must follow arm’s length principle
