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Bookkeeping & tax filings
Bookkeeping and tax filings, handled by licensed accountants.
Atiko is not an accounting firm. We connect you with independent licensed accountants who work with online sellers, and we coordinate the documents so nothing is missed.
At a glance
How we help.
An introduction that fits
Accountants who understand marketplaces, payment processors and multi-currency sales.
Documents gathered
We help you collect statements and reports so your accountant has a complete file.
Deadlines tracked
Federal filing dates sit in the same calendar as your state renewals.
One point of contact
Your account manager coordinates between you and the accountant.
The basics
What bookkeeping and tax filings involve
Bookkeeping is the record of what your company earned, spent, owns and owes. Tax filings are the returns built from that record and sent to the tax authority each year. Every company owes them, in the United States, the United Kingdom and Hong Kong alike, and in most cases they are owed even when the company made little or no profit.
An online store produces more accounting detail than its size suggests. Payment processors pay out net of fees, refunds and chargebacks. Sales arrive in several currencies, through several channels, alongside advertising, inventory and shipping costs. Unless these movements are recorded as they happen, nobody can state the company’s real profit at year end, and an accountant has to reconstruct it from raw statements.
This work is performed by independent licensed accountants, and in Hong Kong by a licensed auditor as well. Atiko’s role is coordination: we introduce the engagement, gather the documents from you, follow the deadlines and make sure the accounts agree with what is filed at the registry. You keep one point of contact while qualified professionals prepare and sign the returns.
By jurisdiction
How tax filings work in each jurisdiction
| United States | United Kingdom | Hong Kong | |
|---|---|---|---|
| Tax authority | Internal Revenue Service, plus state agencies where they apply | HM Revenue and Customs | Inland Revenue Department |
| Main annual return | LLC return by tax classification; Form 1120 for a C Corporation | Company Tax Return to HMRC | Profits tax return |
| Accounts | Books kept to support the return | Annual accounts filed at Companies House | Audited financial statements, required every year |
| Headline corporate rate | C Corporation: flat 21% federal rate | 25% main rate; 19% small-profits rate | 16.5%; 8.25% on the first HK$2 million |
| Foreign-owned companies | Single-member LLC: Form 5472 with pro forma Form 1120 | Same filings whatever the owner’s residence | Territorial system; offshore claims are examined closely |
| Tax on sales | State sales tax, triggered by nexus | VAT, handled separately from corporation tax | No VAT or sales tax |
Rates are the current headline figures. How they apply to your company is a matter for your accountant.
Why delegate
Why founders hand this over
Running a store and following a foreign tax system are different skills.
The rules are foreign to you
You probably know the tax system of the country you live in. The filings of the country where your company is registered follow different forms, calendars and vocabulary.
Penalties are out of proportion to the task
A foreign-owned single-member LLC that fails to file Form 5472 faces a penalty starting at $25,000, even with no tax due. Late returns in the UK and Hong Kong also attract penalties.
Payment data is hard to reconcile
Payouts from Stripe and Shopify Payments combine sales, fees, refunds and reserves.
Banks and providers ask for figures
Account reviews and applications for higher limits often come with requests for financial statements. Clean books let you answer in days.
A signature carries responsibility
Returns and audited statements must be prepared by people licensed to do so.
From you
What the accountant needs from you
The more complete the records, the faster and more accurate the filing. We collect these items from you and pass them on in the format the accountant requires.
The process
How the accounting year runs
Engagement with a licensed accountant
We introduce an independent licensed accountant suited to your company’s jurisdiction. You engage the accountant directly, so the professional relationship and its duties run to you.
Books are set up
The accountant sets up the company’s books and agrees with you how records will be shared.
Transactions are recorded through the year
Sales, fees, refunds and expenses are recorded and reconciled to the bank at regular intervals.
Year-end accounts are prepared
After the financial year closes, the accountant prepares the accounts. In Hong Kong a licensed auditor then audits the financial statements.
You review and approve
You receive the draft accounts and returns with an explanation of the figures. Nothing is filed until you have approved it.
Returns are filed
The accountant files the returns with the tax authority. Atiko records the filing and updates your compliance calendar.
In practice
How Atiko coordinates the work
Atiko already holds your formation documents, your ownership details and your compliance calendar. We use them to brief the accountant properly, so you do not explain your company twice. During the year a specialist follows the tax deadlines alongside the registry deadlines, requests documents from you in good time, and checks that names, addresses and ownership in the accounts match the public record.
The line between the two roles is firm. Atiko does not keep your books, calculate your tax or sign any return. Independent licensed accountants do that, and questions about how you are taxed, including in your country of residence, go to them or to your own tax adviser. Atiko gives no tax advice and never holds client funds, so any tax due is paid by the company from its own account.
Avoid these
Common mistakes to avoid
Believing no tax means no filing
A US LLC owned by a non-resident may owe no federal income tax and still have an annual reporting obligation.
Mixing personal and business money
Paying personal expenses from the company account makes the books harder to prepare and can raise questions from the bank.
Booking payouts as revenue
A payout is what remains after fees and refunds. Recording it as sales understates both revenue and costs.
Leaving everything to year end
A year of unreconciled transactions takes far longer to rebuild than to record as it happens, and deadlines do not move.
Ignoring sales tax and VAT
Income tax returns do not cover US sales tax or UK VAT.
Atiko is not an accounting firm
Atiko does not prepare books, accounts, audits or tax returns, and it gives no tax advice. That work is done and signed by independent licensed professionals whom you engage, and the amount of tax your company owes is determined by the law and by the tax authorities.
Questions about bookkeeping and tax filings
Does my US LLC have to file if I live abroad and owe no US tax?
In most cases, yes. A foreign-owned single-member LLC generally must file Form 5472 with a pro forma Form 1120 every year, and the penalty for not filing starts at $25,000. Whether income tax is due is a separate question for your accountant.
How is a C Corporation taxed?
A C Corporation pays federal corporate income tax on its profits, currently at a flat 21%, and files Form 1120. Dividends paid to shareholders are taxed separately.
What does a UK limited company file each year?
It files annual accounts at Companies House and a Company Tax Return with HMRC, in addition to its confirmation statement. The main corporation tax rate is currently 25%, with a 19% rate for small profits. VAT is a separate regime.
Does a Hong Kong company really need an audit every year?
Yes. Audited financial statements are part of the yearly obligations of a Hong Kong company, and they support the profits tax return. The audit is carried out by a licensed auditor who is independent of Atiko.
Are my Hong Kong profits taxed if my customers are elsewhere?
Hong Kong taxes profits arising in or derived from Hong Kong, at 16.5%, with 8.25% on the first HK$2 million. Whether your profits fall outside that scope depends on the facts and is assessed by the Inland Revenue Department. Your accountant handles that question.
Can I do the bookkeeping myself?
You can keep your own records if you wish, and some founders do in the first year. The returns, and the audit in Hong Kong, still need to be prepared by licensed professionals, who will check your records before relying on them.
Will Atiko tell me how to reduce my tax?
No. Atiko gives no tax advice. Questions about your tax position belong with a licensed accountant or tax adviser who knows your full situation, including your country of residence.
Is US sales tax included?
Sales tax is separate from income tax. It is set by each state, and an obligation arises once your store has nexus there, often through a sales threshold or inventory. Registration and returns are handled by licensed professionals.
What if earlier years were never filed?
Tell us as early as possible. An accountant can usually prepare the overdue returns. How penalties are applied is decided by the tax authority.
Related pages
This page is general information, last reviewed in October 2026. It is not legal or tax advice and may not reflect the latest rules in every state. Atiko is not a law firm or an accounting firm. Please consult a licensed attorney or tax adviser about your own situation.
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