Our Services

Audit and Assurance

Companies in Cyprus, irrespective of their size are required by law to prepare and submit Financial Statements verified by an independent registered auditor. We perform our audits in accordance with International Standards on Auditing (ISAs), issued by the International Federation of Accountants via the International Auditing and Assurance Standards Board (IAASB). Our audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. We will also evaluate the appropriateness of the accounting policies used and the reasonableness of accounting estimates made by management, as well as the overall presentation of the financial statements. We have the knowledge and expertise to ensure that your accounts are fully compliant with International Financial Reporting Standards and the Cyprus Company Law, Cap 113. Our approach as a firm is to offer personal client support, communicate our findings throughout the audit and deal with any issues that might have come to our attention.

Our audit and assurance services include the following:

Statutory audits in accordance with ISAs and compliance with Cyprus Company Law, Cap 113;
Statutory reviews
Group consolidations
Special purpose audits
Liquidation audits
Internal audits and internal control reviews
Mergers & acquisitions

Accounting and Business Support Services

Our team will is ready to assist with all financial functions of your company and ensure statutory and regulatory compliance.

Our accounting and business support services include the following:

Accounting

Bookkeeping services on a monthly/quarterly/annual basis
Preparation and submission of quarterly VAT returns
Preparation and submission of monthly VIES returns
Preparation and submission of monthly Intrastat returns
Preparation and submission of MOSS/OSS/IOSS returns
Preparation of monthly/quarterly/annual management accounts
Accounting ad-hoc or advisory services on VAT or accounting matters

Business support

VAT / VIES / Intrastat / OSS registrations and deregistrations
Registrar of companies’ platform registration
Ariadni platform registration
Handling payment of taxes / annual levy
Registrar of companies services (e.g. name check, change of name, change of directors, secretary, registered office, share capital increase, transfer of shares, incumbency certificates)
Submission or update of beneficial owner’s registry
Submission of annual returns (HE32)
Compliance checks
Voluntary liquidation
Handling of strike-off process

Payroll services

Employer registration with Social Insurance
Self- employed registration with Social Insurance
Obtaining TIC for employees
New hires on Ergani / Social Insurance system
Employment termination on Ergani / Social Insurance system
Monthly payroll preparation and submission to social insurance including issuance of employee payslips
Collection and payment of payroll taxes and social insurance contributions
Advisory services on payroll matters

Tax Services

Transfer pricing

From January 2022 Liable Taxpayers in Cyprus have a local file obligation if their transactions with connected persons either exceed (or should have exceeded based on the arm’s-length principle) the amount of €750,000 in aggregate per category of transaction per tax year.

We undertake the preparation of Transfer Pricing studies (local file) following OECD Guidelines to ensure strong and sustainable transfer pricing solutions that work for you.

Tax Planning

We believe that an effective tax planning is an essential part of every business. Before any expansion, restructuring or other change in the operations of the business, all aspects of tax should be considered. From Income tax, to VAT to Capital Gains tax, we ensure that we fully understand the clients’ needs and we are ready to provide a comprehensive tax strategy.

Tax Compliance

On top of effective tax planning we ensure on going compliance with tax requirements and ongoing changes

We offer the following services:

Preparation and submission of Personal Tax Return (TD1)
Preparation and submission of Company Tax Return (TD4)
Preparation and submission of Employer Tax returns (TD7)
Preparation and submission of Rent returns (TD614)
Preparation and submission of Interest and Dividend Declarations (TD602 & TD603)
Calculation and arrange payments of defense tax on rents (codes 604 & 614)
Calculation of provisional tax and arrangement for the payment of two provisional tax instalments
Distributable dividend obligation review

Other tax services

Tax residency certificate for individuals / companies
Tax clearance certificate for companies
Handling applications for Non-Domicile status
Tax / VAT objections or investigations
Tax / VAT advisory work
Tax / VAT rulings
Consultation on tax planning
Consulting on mitigation of possible VAT liabilities
Tax clearance on property transfers (TD401, TD402 & N313)
Capital Statement preparation
Company restructuring / reorganisations
Liaising and negotiating with Tax and VAT authorities on company matters

Advisory

We offer specific solutions to common needs of our clients:

Preparation of management accounts
Cash flow preparation
Business plan preparation
Feasibility study preparation
Company valuations

Furthermore we offer bespoke advisory and consultation services on tax, VAT, accounting, audit, payroll, restructuring, mergers & acquisitions, property transfers and any other matters after careful consideration and understanding of clients’ needs.

UK accountancy services

We offer the following solutions and services to UK companies and individuals through TMH Financial Services Ltd, with Michalis Anastasiou as the sole principal:

Bookkeeping work
Preparation of management or financial accounts
Tax compliance and tax advisory services

TMH Financial Services Ltd is a company registered in England with registration number 09385579 and registered office at 13 Lewes Road, London, United Kingdom, N12 9NH.