Accountant for Individuals: How a Specialist Can Help

Who files an annual income tax return

• people who received income from abroad;
• people who received income from persons that are not tax agents, for example from selling property or renting it out to individuals;
• other income from which personal income tax (PIT) was not withheld by a tax agent (Article 393 of the Tax Code).

Deadlines

• tax return: no later than 1 April of the following year (Article 397);
• tax payment: no later than 1 June (Article 398).

When people come to us

Income from several sources, receipts from abroad, sale of property, rental income, work under civil-law contracts.

Also when a demand from the tax authority arrives and the person needs to understand what the request is based on.

• income from several sources
• rental income
• sale of property
• income from abroad
• responding to a tax authority demand

What the specialist does

They analyse the situation, determine which obligations arise, help gather supporting documents and prepare the tax return.

The taxation of individuals' income is governed by tax legislation, so every case is checked against the current version of the rules.

Why you should not put it off

Sorting things out in advance is almost always simpler and cheaper than explaining yourself after receiving a demand.

Besides, some documents can only be obtained from the counterparty, and that gets harder over time.

The most common situations

Usually the trigger is a one-off event: selling property, income from abroad, renting out a home or needing to prove income to a bank.

In such cases what matters is not a universal rule but a review of the specific documents: the details of the transaction determine which obligations arise.

• sale of real estate or a vehicle
• rental income
• receipts from foreign clients
• proof of income for a bank
• reviewing requests and notices

Documents you will need

For a substantive discussion we need the contracts for the transaction, proof that money was received, and documents on expenses incurred earlier if they relate to the matter.

The more complete the set, the fewer assumptions. Without documents, any recommendation remains a general explanation rather than a solution to your situation.

Why you should not rely on forums alone

Answers on the internet describe other people's circumstances and often relate to another country or an outdated version of the rules. A difference in one detail changes the conclusion entirely.

The taxation of individuals' income is set by legislation and is periodically clarified, so you need to check against the current version.

When it makes sense to register an activity

If income becomes regular, one-off consultations stop working: the question shifts from reporting a transaction to choosing a legal form for the activity.

We explain how the options work and what follows from each, but the decision is yours: it depends on your plans, not just on calculations.

How a consultation works

First we clarify the circumstances and look at the documents, then we explain which obligations arise and what needs to be prepared. If necessary, we help complete the forms.

If the situation needs deeper work, we say so straight away rather than stretching the review over several meetings.

What we do not do

We do not offer ready-made schemes to reduce obligations and do not take on tasks that require misstating income information. This applies to any request, regardless of the amount.

Our job is to explain how the matter works, help gather documents and complete the information correctly; the person makes the decisions.

Who advises you

Specialists of Leader Audit, an audit firm with 13 years of experience.

We explain how the matter works and what options you have, and the decision remains yours.