Consulting & Professional Services Accounting & Tax in Singapore

Our accounting services are crafted for knowledge-based businesses operating in Singapore's dynamic market:

• Independent Consultants & Freelancers: Solo professionals operating as Pte. Ltd. companies who need to manage their finances, optimize tax planning, and ensure compliance.
• Boutique Consulting Firms: Small firms in sectors like finance, tech, or marketing that require tracking of project profitability and management of multi-currency billing for regional clients.
• IT & Tech Consultants: Tech experts serving a regional client base who need to manage software expenses and correctly apply GST on digital services.
• Foreign Consultants using a Singapore Entity: International experts using a Singaporean company as a credible base for their APAC operations, benefiting from the country's stability and strong legal framework.

From your first client contract, professional accounting is beneficial. It becomes absolutely critical at these key moments:

• When You Cross the GST Threshold: Once your taxable turnover exceeds S$1 million, GST registration is mandatory. This requires issuing GST-compliant invoices and filing quarterly returns.
• When You Hire Staff: This triggers payroll obligations, including mandatory Central Provident Fund (CPF) contributions for local employees.
• When You Invoice International Clients: Correctly determining the 'place of supply' for services to foreign clients is crucial for GST compliance. Services to overseas clients are often zero-rated, but must be reported correctly.
• At Year-End: For preparing Unaudited Financial Statements for ACRA and filing your annual Corporate Tax Return with IRAS, ensuring all deductions are claimed and tax liabilities are correctly calculated.

Investing in outsourced accounting for a consultant is a high-ROI decision, freeing up billable hours and ensuring tax compliance.

• Solo Consultant / Freelancer: S$400 - S$800 per month. This typically covers comprehensive bookkeeping, GST compliance, and preparation for annual tax filings.
• Small Firm (2-5 people): S$800 - S$2,500 per month. This service level adds payroll for the team and more detailed management reporting on project profitability.
• Growing Firms (5+ people): Custom pricing starting at S$2,500+, which can include more advanced forecasting and virtual CFO services.

Service-based businesses in Singapore face unique compliance risks that can lead to significant financial penalties:

• GST Errors on Services: Incorrectly applying GST, especially for international services, can lead to under- or over-charging and result in penalties from IRAS.
• Missed Deductions: Failing to properly document and claim all legitimate business expenses leads to a higher corporate tax liability.
• Commingling Funds: Mixing business and personal expenses can create major issues during an audit and complicates the calculation of business profit.
• Late ACRA/IRAS Filings: Missing deadlines for annual returns or tax filings leads to automatic penalties and can affect the company's and directors' compliance records.

As a consultant, your time is your inventory. Every hour spent on administration is an hour you cannot bill. Outsourcing your accounting to YourLegal frees up this valuable time while providing access to a team of experts in Singaporean tax and corporate law.

We go beyond basic bookkeeping. We help you structure your contracts and invoicing for optimal GST compliance. We manage all your monthly and annual filings, ensuring you are always compliant with ACRA and IRAS. By taking the financial administration off your plate, we let you focus on what you do best: delivering exceptional service to your clients.