Savings

Hubconsult SMART Company solution means you can have the  benefits of using a company at a fraction of the cost of establishing and running your own! That’s great news for controlling overhead costs!

  • lower company set-up costs
  • no more monthly bookkeepers costs – all your online accounting is done using Xero
  • your annual audit and filing of company accounts is covered by your subscription
  • your Corporate Tax, and VAT rates will be zero (i)
  • Very modest subscription and invoicing fees
  • Expected increase of Profit after Tax (PAT) of 25 or more%

Scroll table to the right to see all content >>

Table 1: Your Potential Savings
You Hubconsult Member Potential Saving
Set-up costs
Your company set-up costs 1,000 100 1,000
Annual Cost
Your assumed fee turnover p.a. 100,000 100,000
Your monthly bookkeeper costs (x12) 2,400 2,400
Your annual accounting and filing costs (Note 1) 1,000 300 700
Profit before Tax (PBT) 96,600 99,700 3,100
Your Corporate Tax rate % (Note 2) 25 0 25
Profit after Tax (PAT) 72,450 99,700 27,250
Hubconsult 1% service fee 1,000 -1,000
Comparison of retained income** 72,450 98,700 26,250
Set-up cost saving (one-off) 1,000
Annual cost and taxation saving 26,250
Hubconsult saves you after first year 27,250
Note 1: Based on €25 per month 5 Year subscription (recommended)
Note 2: 25% Corporate Tax provided as an estimate only. It may differ in your country.

NOTES

(i) For business outside of Hong Kong .

**You will still be responsible for filing personal income tax returns wherever you are resident. Hubconsult is not involved in your personal tax affairs. Together this should mean that you will be more tax efficient than before due to your saving in Corporate Tax

***The process of getting paid is a simple 1,2,3,4:

  1. Simply invoice your client from Hubconsult
  2. Hubconsult gets paid
  3. You invoice Hubconsult including your bank details
  4. Hubconsult transfers your funds to you at your chosen account

This is a static worked example. (Of course, to calculate your savings more precisely you should plug in your own figures to see how much you could save yourself. Your own company set-up costs, accounting and bookkeeping costs, sales or profit tax rates may be higher or lower than this example. You can also amend to your own currency too.)

* assuming here our recommended Gold Plan to give you an average accounting and auditing cost of €300, which is paid upfront for 5 years. You can also opt to deduct this from your first invoice.

** your Corporate and VAT rates are zero as a Hubconsult Member. (Hubconsult does not make any claim about your personal Income Tax rate which is dependent on your personal circumstances. You are wholly responsible for your own personal tax affairs.)

** special client-specific requirements such as special contracting could be charged extra – for example if you ask us to review your contract details in more depth. (However, you have complete control of that.)