• Tax

    Company Tax returns for dormant companies

    There is a common belief among business owners, that when a company is dormant, i.e did not trade for a specific financial year, that you do not need to submit a tax return. This is not true, a company has to submit a tax return whether it has traded or not. SARS will still hold a dormant company liable for a return, even if the company is dormant. And this can lead to penalties being raised, usually at R250 per month for every return not submitted. The following is an extraxt is from SAIT(South African Institute for Tax professionals) 1. Believing you do not need to submit an ITR14 for…

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  • UIF

    UIF Ters benefits

    In order to claim UIF TERS benefits for your employees due to the corona virus outbreak, the company’s UIF returns have to be up to date. The fact that the UIF is paid monthly to SARS does not mean that the UIF returns are up to date. These returns must also be submitted to the department of labour on a monthly basis. The return includes the information for every employee, including the hours worked and salary received. If these returns are not up to date, the UIF TERS application will be rejected. Contact us for assistance with your UIF returns as well as UIF TERS application.

  • Accounting

    Accounting – From R750 per month

    We offer a comprehensive accounting package from R750 per month. The offer includes the following per month: Capturing all transactions on Pastel Trial balance(Income statement and balance sheet) VAT201 (VAT form) submission EMP201 (Employee tax form) submission Annual income tax return Contact us for a quote.

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  • Other

    Who must register for Workmen’s Compensation?

    All companies who employ one or more employee. Only the following companies are exempt: National and state government departments Certain local authorities Employers who are covered by Mutual Associations The purpose of the fund is to provide compensation to employees who was either injured or contracted a disease during the course of performing their work duties. The annual assessment amount is calculated by using the actual salaries for the previous year and the estimated salaries for the current year. A rate is used according to the risk factor for injury of the business. The return must be submitted and the assessment amount paid before 31 May, after which a Letter…

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  • Other

    Workmen’s compensation

    All employers can now submit their annual returns for Workmen’s Compensation. The deadline is 31 May 2020. The fund covers employees who are injured while on duty. Employers have to submit a return every year and then pay the assessed amount. All companies who have permanent employees are obliged to register with the fund. Contact us to submit your WAS.8 return

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  • UIF

    UIF claims – Easy to use guide

    During the lockdown period South Africa is currently facing, employees can apply to the unemployment insurance fund for relief. There has been a lot of questions regarding the application process. The document below is from the department of labour and explains the application process. This guide is applicable to the online application system. Make sure to read through the guide and ensure that you have all the documents/information before starting the process. Click on the link below to download form UI2.7 that needs to be comppleted and submitted with your claim. Please note The guide is from the department of Labour. Click here to be redirected the website.

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  • Accounting,  PAYE,  Tax,  VAT

    Payment options – Financial Statements

    We assist companies with the following: Company tax Annual Financial statements PAYE returns(Employee tax) VAT returns Companies still have to submit all their tax returns during the lockdown period in South Africa. This is also a requirement for all companies who want to apply for financial assistant from government. Due to the difficult financial climate currently facing South Africa, we offer various payment options for our services to all new clients. This will ensure that your tax stay up to date and lessen the burden on your budget. Click here to contact us, or send an email to .

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  • Tax

    Never submitted tax – We can help

    I get a lot of queries from clients who have never submitted personal income tax returns. And then they are too scared to do it, because they do not know what to expect. From experience, I have seen that it is better to manage your tax than be scared of the unknown. If there has been admin penalties incurred, they can accumulate to the point where SARS takes legal action. To establish your tax status, one must look at how many returns are marked as outstanding by SARS, as well as whether there are admin penalties. The admin penalties are usually R250 per return for every month it is not…

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  • compliant.co.za tax
    Accounting,  Other,  Tax,  UIF

    Small business assistance requirements

    Small to medium enterprises can apply to receive financial or other assistance during the outbreak of the coronavirus. Click here to be redirected to the government website where applications are to be submitted. The following is a list of requirements in order for the application to be successful. The business must have been registered with CIPC by at least 28 February 2020. Company must be 100% owned by South African citizens. Employees must be 70% or more South Africans Priority will be given to businesses owned by women, youth and people with disabilities. Company must be registered with SARS and UIF. SARS and UIF must be compliant. Proof must be…

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  • Accounting,  Tax

    Financial Statements 2019 – Time to submit

    All private companies with a February year end, should have submitted the Annual Financial statements to SARS for the year ended 28 February 2019. If the company has a tax liability, there is going to be a penalty for late submission. SARS has now also started sending out notices to companies who have not submitted their income tax returns yet, to give notice that administration penalties will be charged on a monthly basis, for every month the return is outstanding. If a company has not traded for the year in question, a Nil return still has to be submitted. Contact us now for assistance with company tax returns and annual…

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