Accounting services for a small business in Ukraine cover bookkeeping, taxes and reporting for sole proprietors and small companies, from choosing a legal form and tax regime to year-end statements. We keep the books under contract.
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In short
- Who: founders starting a business in Ukraine, FOPs and small LLCs outsourcing accounting.
- What you get: a legal form and tax regime choice, set-up books, on-time returns and limit monitoring.
- Timing: an existing business with complete documents starts from the next reporting period; setting up a new company takes 2–4 weeks in our experience.
- Fee: agreed individually, depending on legal form, tax regime, VAT, transactions and headcount.
- Start: describe your business, expected annual revenue, staff and whether you need VAT.
How to start a small business in Ukraine: tax and accounting from day one
Starting a business in Ukraine involves a few decisions that shape taxes and reporting for years. We go through them with the owner in this order:
- legal form: sole proprietor (FOP) or limited liability company (LLC);
- state registration, handled by lawyers, see business registration in Ukraine;
- tax regime and single tax group, with a tax burden calculation;
- VAT: mandatory or voluntary registration;
- bank account, cash desk and cash registers (RRO or software PRRO);
- accounting policy, document flow and templates, see setting up accounting and tax records.
FOP or LLC
An LLC is liable for its obligations with all its property and is not liable for its members' obligations (Art. 2, 3 of Law No. 2275-VIII); a FOP has no such separation. FOPs keep a monthly income ledger, or an income and expense ledger on group 3 with VAT (clause 296.1 of the Tax Code), while an LLC always prepares financial statements. See accounting for sole proprietors and accounting services for an LLC.
Single tax groups in 2026
The simplified system replaces corporate income tax, personal income tax on business income, VAT (unless the 3% rate with VAT is chosen) and land tax on business plots (Art. 297 of the Tax Code).
Source: clause 291.4 and Art. 293 of the Tax Code; minimum wage on 1 January 2026 is UAH 8,647
| Group | Who and income limit in 2026 | Staff and rate |
|---|---|---|
| Group 1 | FOPs in market retail and household services; UAH 1,444,049 | no employees; fixed rate up to 10% of the subsistence minimum |
| Group 2 | FOPs serving the public and single tax payers, production, retail, restaurants; UAH 7,211,598 | up to 10 employees; fixed rate up to 20% of the minimum wage |
| Group 3 | FOPs and companies; UAH 10,091,049 | no limit; 3% plus VAT or 5% including VAT |
Revenue above the limit, from banned activities or received in non-cash form (barter, offset) is taxed at 15% for FOPs (Art. 293). Group 3 also pays a military levy of 1% of income.
What the service includes
- legal form and tax regime choice with a tax burden calculation;
- accounting set-up: policy, document flow, templates;
- monthly bookkeeping, taxes, social contributions and payroll;
- tax returns and financial statements on time;
- single tax limit and eligibility monitoring;
- preparation for tax audits and replies to tax authority requests;
- an audit organised with a partner audit firm when the law, an LLC member, a bank or an investor requires one.
How we work
- Business review. We look at your activity, revenue, staff, VAT and documents.
- Legal form and tax regime. We compare FOP and LLC, single tax groups and the general regime on the numbers.
- Accounting set-up. We approve the accounting policy, document flow and templates.
- Monthly books and returns. We keep the books, calculate taxes and file returns on time.
- Year-end reports and audit. We prepare annual statements and organise an audit if needed.
Timing and fee
In our experience, we take over an existing business with complete documents from the next reporting period, and setting up a new company takes 2–4 weeks after we receive the documents. The fee is agreed after a short review and depends on the legal form, tax regime, VAT, volume of transactions, headcount and the state of past records.
What we need from you
- state register extract and tax regime details;
- access to bank statements and the accounting system;
- contracts with customers and suppliers;
- HR documents if you have staff;
- a contact person who sends documents every month.
What you receive
- a decision on legal form and tax regime with calculations;
- set-up books and a document flow schedule;
- tax returns and financial statements filed on time;
- a monthly list of taxes and contributions due;
- an early warning when income approaches the group limit.
Reporting and audit for small companies
A company is small if it meets two of three criteria: assets up to EUR 4 million, net revenue up to EUR 8 million, up to 50 employees (Art. 2(2) of Law No. 996-XIV). Small companies file abbreviated annual statements.
A statutory audit is performed and signed by a partner audit firm listed in the relevant section of the Register of Auditors and Audit Entities for statutory audit engagements. Key Solutions organises the work, prepares the books and statements and supports the company until publication. We organise a financial statement audit for banks and investors the same way; see mandatory audit of financial statements for how we organise it.
Legal basis
Legal basis for the work
- Art. 2, 11, 14 of Law No. 996-XIV — company size categories, abbreviated statements, publication;
- Art. 291–298 of the Tax Code — simplified tax system: groups, limits, rates, records;
- Clause 181.1 of the Tax Code — mandatory VAT registration;
- Art. 41 of Law No. 2275-VIII — audit of an LLC at a member's request;
- Para. 5 of Procedure No. 419 — financial statement deadlines.
Risks and why to use a contracted team
Small businesses most often lose money on three things: exceeding the income limit, non-cash settlements under the single tax and missed filing deadlines. Each one means a higher rate, a forced move to the general regime or a fine. We work under a contract with agreed scope, deadlines and liability; registration and contracts are handled by legal.ua.
Why Key Solutions
- Company
- ТОВ «АУДИТОРСЬКА ФІРМА «КЕЙ СОЛЮШНЗ», a Ukrainian limited liability company, EDRPOU code 39610085, registered on 30.01.2015. The company's details are public in the Unified State Register (ЄДР).
- Contract
- We work under a contract: scope, timing, liability and confidentiality are agreed before work starts.
- Group
- Key Solutions is part of Innova Consulting Group: legal matters are handled by legal.ua, crypto-asset taxation by crystal.tax.
- Office
- Our office is at 77 Velyka Vasylkivska St., Kyiv. We serve clients across Ukraine remotely. The specialists who run engagements are listed on the Our employees page.
Frequently asked questions
Should I register as a FOP or set up an LLC in Ukraine?
It depends on risk and ownership. An LLC is liable for its debts with its own property, while a sole proprietor (FOP) has no such separation. An LLC suits partners, hiring and selling a stake; a FOP suits a one-owner business.
What is the income limit for single tax group 3 in 2026?
Group 3 income may not exceed 1,167 minimum wages set on 1 January (clause 291.4 of the Tax Code), or UAH 10,091,049 in 2026. Income above the limit is taxed at a higher rate and the taxpayer moves to the general regime.
Does a small company need an audit?
Usually no. The audit requirement follows from the duty to publish statements with an audit report, which reaches micro and small companies only in exceptional cases (Art. 14 of Law No. 996-XIV). Members holding 10% or more of an LLC's charter capital in aggregate can demand an audit.
What financial statements does a small company file?
Micro and small companies file an abbreviated balance sheet and income statement by 28 February of the following year, and interim statements by the 30th of the month after each quarter (para. 5 of Procedure No. 419).
When must a business register for VAT?
Registration is mandatory once taxable supplies over 12 months exceed UAH 1,000,000 excluding VAT (clause 181.1 of the Tax Code). Single tax payers of groups 1–3 are exempt, and a group 3 payer may register voluntarily.
How much does an accountant for a small business cost?
The fee is agreed individually and depends on the legal form, tax regime, VAT, volume of transactions, headcount and foreign trade. We quote after a short review and fix the price, scope and deadlines in the contract.
Related services
Let's discuss your business
Tell us what you do, your legal form and tax regime, and roughly how many transactions and employees you have. We will reply with a service format, start date and fee.
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