The first thing most entrepreneurs do is formalise the structure under which they plan to conduct their business. You may or may not be aware, but there are several different types of business entities you can choose from when you wish to get started in business.
Most importantly – ALL businesses are required to register for Income Tax with the South African Revenue Service (SARS) AND are required to submit an Income Tax return regardless of whether they make a profit of not!
Payroll is one of those disciplines that can get out of control very quickly if your bookkeeper is not paying attention. Besides the annual changes to the various tax and allowance tables there are also continuous changes to the information that needs to be submitted to SARS.
We ensure your Annual Return, Annual Financial Statements, Income Tax, PAYE, Provisional Tax, UIF, VAT and Workman’s Compensation are submitted on time every time, that way there is never any issues with SARS or any other Government department.