• 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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  • Accounting,  CIPC,  PAYE,  Tax,  UIF,  VAT

    Closing your business – Here’s what you need to know

    People often ask me how to go about closing a private company and what their responsibilities are. CONTACT US FOR MORE INFO… The first thing to consider when closing a company is the tax implications. All taxes must be submitted and paid up to date, right up to the date that the company ceased to trade. This is applicable to all tax types. Income tax – Financial statements have to be prepared up to the date the company stopped trading. An IT14 return should then be submitted to SARS. If the company stopped trading in the middle of the financial year, financial statements must still be compiled, for all the…

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  • PAYE

    Employee tax reconciliations – From 1 April 2020

    The reconciliation period for employee tax starts on 1 April 2020. The employee tax reconciliation, also called the EMP501, is for the period 1 March 2019 to 28 February 2020. All recons should be submitted by 31 May 2020. The aim of this recon is to ensure that the amount of employee tax(PAYE, UIF) corresponds with the figures paid over to SARS monthly via the EMP201 returns. And because this recon is for the whole year, employers have to give their employees IRP5 certificates. These certificates will be used by the employees to submit their personal income tax return. What’s the difference between an IRP5 and IT3? An IRP5 is…

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  • PAYE,  Tax

    Tax relief – Coronavirus

    Government has announced some tax relief for companies to give some relief for a few months. The following was announced: The government will provide a tax subsidy of R500 for all private sector employees who earn less than R6 500 per month. This will continue for a period of 4 months starting end of March 2020. All companies with a turnover of less than R50m per year, will be allowed to delay 20% of their PAYE payments for the next four months. This is only applicable to companies who’s taxes are up to date. These companies will also be allowed to delay a portion of their provisional tax payments towards…

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  • PAYE

    EMP501 – Everything you need to know

    If your company is registered for PAYE, you will have to submit a EMP501 recon. The deadline is 31 October 2019. The period cover by the recon is 1 March 2019 to 31 August 2019. The purpose of the recon, is to ensure that the PAYE, UIF and SDL deducted monthly, is correct and agrees with the amounts paid over to SARS. And providing reasons for any differences found. Because the taxes have to be paid to SARS monthly, a penalty is raised if the amount deducted is less than the amount paid to SARS. The EMP501 submitted in October is seen as the mid year recon. IRP5’s are not…

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  • PAYE,  UIF

    PAYE recon

    All companies have to submit their PAYE recon before 31 October 2019. This is for the March until August 2019 period. The recon, also called the EMP501, is a way to ensure that the amounts that you have deducted from the employees, and the amounts paid over to SARS are the same. This is only applicable to companies who pay PAYE to SARS monthly. The PAYE, UIF and SDL, if applicable, are reconciled in this manner. Contact us now for assistance. From only R530, depending on the amount of employees.

  • PAYE,  UIF

    Payslips – R50 per employee

    If you have employees, it is important to provide them with payslips on a monthly basis. It also makes it easier to submit PAYE recons if records are kept from the beginning. We provide payslips at R50 per employee. We use software designed for payslips to keep record. This also ensures that the correct deductions are made. We also use the software to submit the UIF return monthly to the department of labour. Read more…. Contact us

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  • PAYE,  Tax

    Tax directive – You can still apply

    All commission earners can still apply for a tax directive. This is for a monthly fix percentage deduction of employee tax. Which means that your monthly income will be more. We charge R250 for a tax directive Contact us at

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  • Accounting,  PAYE,  Tax,  VAT

    Dormant Company

    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…

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