Preparation of annual financial statements + tax returns
Section 155 (1) InsO requires the insolvency administrator to fulfill the debtor's accounting obligations under commercial and tax law. Particularly in insolvency plan proceedings, the prompt preparation of annual financial statements and tax returns is a prerequisite for successful restructuring. The obligation relates to the preparation of an opening balance sheet under commercial law (together with an explanatory report), the preparation of annual financial statements for the end of each financial year and the preparation of a closing balance sheet at the end of the proceedings. In addition, the required tax returns are to be prepared.
The preparation of annual financial statements and tax returns in insolvency requires, in addition to compliance with general commercial and tax law regulations, knowledge of the interface between insolvency law, commercial law and tax law.
Every year, we prepare more than 400 annual financial statements with the corresponding tax returns for insolvency administrators for companies of all sizes and in all industries.