• 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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  • Accounting,  VAT

    How does a VAT audit work??

    If you have ever had a VAT audit and wondered what it entails. VAT returns should be submitted every 2 months. And every month for companies with a turnover of more than R50m a year. SARS will notify you if your VAT201 return has been selected for a VAT audit. This notification is done as soon as the return is submitted. The next step is then to submit a detailed calculation of your VAT amount payable to SARS. They will then go through this information. If they need more information, they will give you a call to request it. This is usually done to verify that the expenses claimed are…

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  • Accounting,  VAT

    Accounting – Save cost

    Are you the owner of a small business?? Then you will know that the cost of accounting work can be astronomical. This does not have to be the case. We offer monthly accounting from only R750 per month. This also includes 2 provitional tax forms per year. As well as the bi monthly VAT forms. Let us handle your accounting so that you can concentrate on keeping your customers happy. Contact us Why do you need accounting work, read more…

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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…

  • PAYE,  Tax,  VAT

    SARS clamping down on non payers

    SARS has issued a statement on their website that all money due to them are to be paid before 29 March 2019. Read statement here. After the deadline, they are going to start taking action against tax payers with money due. This includes raising interest on outstanding amounts. SARS also has the right according to law to take money from a taxpayers bank account for money owed to them. It is important to make arrangements with SARS to pay outstanding taxes in installments. If you owe tax due to incorrect assessments or input VAT not allowed, you have to submit disputes in order to correct this. Contact us

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  • Accounting,  PAYE,  VAT

    Monthly bookkeeping – R750pm

    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.

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  • PAYE,  Tax,  VAT

    Personal and company Tax debt

    Personal Tax debt SARS have now started to take money out of taxpayers’ bank accounts who have tax debt. This seems to be a growing trend by them this month. They know that a lot of people receive 13th cheques or bonusses this month. They mainly target people who has had debt for more than a year, and who has not made any attempts to make partial payments. This can be avoided if you take corrective action in time and manage the situation. Contact us now for advise on how to manage your debt. Company tax debt This also applies to company tax, which includes VAT and PAYE. Also for…

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