Definition of Dormant company A company is deemed to be dormant if there hasn’t been any transactions in the name of the company for a certain period of time. This is also the case when a company seizes to trade, but does not get deregistered. Tax obligation Any company needs to submit tax returns, whether the company has been trading or not. This applies to all kind of taxes, income tax, employee tax and VAT. Submitting returns If there has not been any transactions during the year of assessment, NIL returns can be submitted for all tax types. No penalties will be imposed for late submissions. SARS will however impose…
Contrary to the popular belief, business owners do not only need a bookkeeper to comply with SARS. Having updated financial records has a lot of benefits. It does not only makes it easier to structure your company to receive the maximum tax benefits. But it is also easier when you decide to buy assets through financing. It is also very important to track your expenses, and ensure that your profit margins stay in check. Click here for more information.
The deadline for tax returns for companies with a financial year end of 28 February 2018 is 28 February 2019. SARS will be imposed for outstanding companies tax returns(IT14’s) for years previous to 2018 from 7 January 2019. We can assist with financial statements for small businesses from R3 000 once off. Click here for more info. The tax returns for companies should be submitted to SARS at the latest 28 February 2019 along with the financial statements. We can also assist with Nil tax returns at R165 each. Even if the company has not traded, a tax return should still be submitted to SARS.
Bookkeeping for small businesses with a annual turnover of up to R1m for only R750 per month for the first year. Please contact us for a quote should you have a bigger annual turnover. This service includes the following Pastel capturing VAT form submitted every second month 2 Provisional tax forms Income statement sent to client monthly Please note that a once off payment of R2 000 applies for the financial statements. Payslips are charged at R50 per payslip per month.
Offer only valid until 31 December 2018. R500 per month for the first year. The service includes the following: Pastel capturing VAT form submission bi monthly PAYE form submission 2 x Provisional tax forms for the year Company Tax return PAYE recon Please note that an additional charge of R2 000 once off will apply for the financial statements. Payslips will be charged additionally at R50 per payslip. Payslips are generated using Payroll software, and be sent to the client monthly. The client will also receive a monthly income statement. This offer is valid for all small businesses with an annual turnover of R1M or less. Contact us Now