Once the business has been set up and registered with the Tax Office, thereafter it has an obligation to keep accounts and to file monthly or quarterly returns and annual summaries.

For clients who are setting up a business in Spain, Fuster & Associates offers a complete service from the initial registration of the business at the Hacienda (Tax Office), to the completion and filing of quarterly IVA (VAT) and annual tax returns, to standard bookkeeping and accounts preparation services.

In many accountancy firms completion of your accounts will not normally take place until sometime after your year end.

This may result in some unexpected tax bills with only a short period of time to pay.  It restricts your choices throughout your year, and doesn't allow you to make financial decisions when it matters.

Our company believes there is a better way.  We complete your accounts on an ongoing basis; so every month your figures are updated from the records you provide, allowing you to instantly see your current financial position, including Tax & VAT liabilities - and allowing you time to prepare.

Hence you can make financial decisions and get the business back on course, if necessary, in good time.  Our advisors periodically analyse the firm's profit and loss account and balance sheet and then meet with you at intervals to advise you on your best options.  Furthermore, we can advise you about the different financial investment products which exist in Spain, and the tax advantages of each one, to get you tax relief.

At some point in the growth of your business you will almost certainly pay tax on the profits that you make during the year.

Although we can't wave a magic wand and make taxes disappear, what we can do is ensure that you don't pay more than you need to by giving you the best possible advice as your business grows.

Our function is to look for possible ways of lowering your tax bill - for example, by advising you of the reliefs available, subsidies for certain investments, etc.

One of the things that British firms operating in Spain find most off-putting is being handed the tax assessments and told "this is the amount you have to pay", without any explanation as to why, and how that figure was reached.

We want everything to be perfectly clear and understandable to you, therefore we try to explain the working out of the various taxes you're asked to pay.

It's simply a tax added on top of goods and services which you supply or which are supplied to you. VAT which you are charged on taxable goods and services is recoverable.  It's very important that you should know when VAT is deductible under Spanish laws, because then we'll be able to recover a large proportion of it.  We consider it very important to inform our clients about the rates of VAT (in Spain there are three: 4%, 7% and 16%); what expenditure is deductible; and the importance of asking for invoices for expenditure.

To this end, we'd handle all the necessary registration requirements and then, if appropriate, complete your quarterly VAT returns for you.  Therefore, you don’t need to do anything apart from sending or receiving a payment when due.

If you employ staff in your business or you're a director of your Limited Company then we can calculate your Tax and National Insurance for you on either a weekly or a monthly basis.