• 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

    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.

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