VAT made simple: when to register & how to file your VAT201
Confused by SARS VAT? This simple guide for SA businesses explains the R1 million threshold, when to register, and how to file your VAT201 correctly to avoid penalties.
Haven't been able to submitt my VAT filing and Tax for the past 3-4 years. I am behind so I need to make amends and also make minor adjustments on other matters in connection with compliance and good standing. I need accounting services with a good, reputable and honest practitioner with such expertise.
I'm an SA citizen and emigrated from SA to the UK in and lived in London ever since. I own UK property which I am selling, and I am moving back to SA in November permanently. I want to ensure my tax residency ended in so I am not liable for capital gains on the full portion of UK property gains. That is the immediate requirement. Next up, I am purchasing a property in Sandbaai which I'll live in, and will receive rental income on through Airbnb. I'll need help with annual filings as well as advice on how to minimise my tax liability by claiming relief where possible. Finally, in , my girlfriend and I will purchase additional SA property in a company name, and we'll need legal and tax support. SARS e-filing is complicated, so I want to know how much it will cost to have a local company look after our personal, business and property affairs. We prefer to use a company that has a strong digital offering, with local in-person expertise.
I need someone to capture all invoices and data on xero. I also need someone to just work out the amount that needs to be paid to each employee (7) at the end of each month. I do all payments etc myself. The most important thing is the capturing of data on Xero as we are a I get a lot of invoices weekly and I dont have the time always to do this myself.
I was asked to provide consulting services in respect of the establishment of a community farm by the landowner and his wife. I met with the landowner and his wife in Johannesburg on 11 October - 2 hours. I advised the landowner & his wife to take notes so that they could check through their notes & and I would explain in greater detail based on the queries from their notes that they would send back to me. I advised them of my hourly consultation fee before I started work on the annotation of their queries. As I understood this to be an upliftment project I dropped my consulting fee from R/hr to R/hr. Their notes were emailed to me on the 15th October . I again confirmed my hourly rate. I spent 11 hours commenting on their notes in great detail - covering technical issues pertaining to land leases, land improvements, capitalisation of expenditure and methods to recover such capital expenditure etc. I sent the annotated notes back to the client on 16 October . Further questions and explanations followed pertaining to the formation of a property trust, donation tax etc. These were dealt with by Whatsapp messaging (screen shots have been recorded of the conversations) . I submitted my invoice on 22 October . At this point, the landowner refused to pay what he called my exorbitant fees - R .00 for 11 hours spent annotating the notes that they had sent to me. An additional 2 hours of Whatsapp consultation on 22 October followed regarding Total Amount Invoiced R 5 .00. Via WhatsApp messenger the landowner communicated that he was not going to pay my fees ...but as a gesture of goodwill they would forward a gratuity payment. They paid R .00.
“Notice of assessment “ is reeds terug ontvang maar vir audit word daar gevra vir proof of medical expenses. 18 bewyse is Reeds gelaai as files maar as pensioenarisse is ons nie rekenaarvaardig nie en ons kry nie reg om die files ons om te submit. Iemand wat dalk net die regte knoppie kan druk en die koste daaraan verbonde asb?
Interpretation and application of S64 of the income tax act as it pertains to personal expense of a shareholder paid by the company. My interpretation of the section is that interest is charged on the capital portion. Our accounts are charging compounding interest. When I query this they say interest is charged on the interest calculated on the capital amount because it is outstanding. I totally disagree. I understand the section to say interest is charged on the deemed loan, which is the expense paid.
Preparation of Annual Statements: To meet the NCR’s requirement for formal financial documentation, including balance sheets, income statements, and cash flow statements. Assurance Engagement Report: This is necessary if audited or unaudited reports are required by the NCR, providing independent verification of your financials. Completion of Form 40: Assistance with filling out the NCR-specific financial and operational return form. Consultation and Compliance Support: Help with interpreting NCR regulations and ensuring all submissions are accurate and compliant. Organizational Setup for Compliance: Advice on setting up an internal bookkeeping process aligned with NCR standards.
Small company with 6 Employees requiring the services of a Registered Bookkeeper who is in private practice to handle basic book keeping and SARS ? Bargaining Council issues. Email is for the person who handles the financial matters for the company, cell number is for the Personal Assistant (not a company number). Best to communicate via Email at this stage. Company number preferably mornings between 08:00 and 13:00
I paid someone for the purchase of some items and arranged a courier. They never met the courier after multiple attempts. The person then agreed to send the money back and has been dodging me since. He says he will pay one month and then doesn't pay. When I follow up he says "Tomorrow" and does not pay. It's been over 16 months since I sent him the money. He still has not paid anything, the plan was R each month for 8 months then R. So a total of R. He lives in East London I am from western cape. I have his full name and ID, bank statements proving all monies.
1. Bookkeeping 2. Payroll Services 3. Monthly Management Accounts 4. Attending to SARS Returns: Tax, VAT, PAYE, Etc 5. Signed off Annual Financial Statements 6. Year-End Accounts 7. B-BBEE Certificate / Affidavit (turnover under R10 million) 8. Registered SARS Practitioner 9. Tax Clearance Certificates ( TCC ) 10. Individual tax returns 11. New Company and SARS Registrations 12. CIPC Annual Returns