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BUSINESS SERVICES TEST

The below services is offered by Positive Trends Financial Services

 Registration Services  
  • Register a Company 
 To register a new company with CIPC
  • Register company with SARS 
 After company is registerd with CIPC, you will need to register it with SARS for a Tax number  
  • Register for VAT with SARS 

Registering for VAT is compulsory if your Turnover is over R1 mil per annum. You may register 

voluntary if turnover is more than R500 000 per annum. 
  • Register for PAYE, UIF with SARS

You need to register for PAYE if you employ one person. Or if you the owner/member is drawing

a salary.
  • Register for UIF with department of labour 
 If you have any employees but they do not earn more than the tax threshold. 
  • Register for SDL 
 If your annual payroll will exceed R500 000 you need to register for skills develpoment levy (SDL)  
  • Register with Compensation fund                  
 As soon as you employ your first employee, you need to register. 

 

 Managing your company Accounting or bookkeeping function
  • Submit return with CIPC
 Prepare and submit annual return to CIPC. This needs to be submitted in the month your company was registered every year.
  • Submit annual Tax return with SARS 
 To submit your company's annual tax return with SARS. This needs to be done with in 6 months of your Financial year end.
  • Submit VAT returns
 Prepare VAT return to SARS. This is normaly done every 2 months and depend on your registration with SARS 
  • Submit PAYE, UIF & SDL to SARS
 Prepare and submit EMP201 to SARS before the 7th of every month. 
  • Submit UIF with department of labour
 This needs to be done even if you submit your UIF to SARS. 
  • Submit annual return of earnings with Compensation fund    
 Prepare & submit your return of earnings to the Compensation fund. This is normaly done in April/May of every year.

 

 Payroll  
  • Prepare payslips 
 We prepare the payslips for your employees and sent it to them.
  • Prepare payment file
 A payment file is prepared for you to sign off before any payments are made 
  • Prepare & submit returns                                                      
 All statuter returns are prepared and submitted. This includes PAYE, UIF (Monthly and bi-annualy). All stats and other returns.  
   
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INDIVIDUAL SERVICES

You as an Individual Tax client of Positive Trends Financial Services can register for any of the following offerings:

  •  Register as a Tax payer
 If you receive an income you will need to register as a Tax payer with SARS.
  •  Submit your annual Tax return
 If you earn more than the tax threshold for the applicable tax year you will need to submit a tax return to SARS 
  • Tax planning 
 Are you paying to much tax? Let us help to structure your affairs in a manner that will benefit you in a legal way.
  • Estate planning 
 We can help to arrange your estate in the most tax efficient way. 

 

 

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Compile annual Tax return and submit to SARS.

Compile annual Tax return and submit to SARS.

 

When do I need to submit a return?

If you are registered for income tax, you will be required to submit an annual income tax return to SARS. The year of assessment (commonly referred to as a “tax year”) runs from 1 March to 28 February in the next year. Every year, SARS announces its Tax Season, a period during which you are required to submit your annual income tax return. The tax season for the 2014 tax year opens on 1 July 2014.

Where taxpayers receive remuneration which is less than R250 000 (For the 2014 tax year), they may elect not to submit an income tax return, provided the following criteria are met:
  • Their remuneration is from a single employer;
  • Their remuneration is for a full year of assessment (1 March – 28/29 February);
  • No allowance was paid, from which employees’ tax was not fully deducted;
  • No further deductions need to be claimed or income declared.

When should Provisional Tax be submitted?

  • The first provisional tax submission and payment must be made within six months of the start of the year of assessment for 28 February or six months after the approved financial year end date .
  • The second submission and payment must be made no later than the last working day of the year of assessment ending 28 February.
  • The third submission and payment is voluntary and may be made –
    • within seven months of the year of assessment, where the year of assessment ends in February, which is 30 September and
    • within six months of the year of assessment, in any other case.

 

Cost:

Individual with only one IRP 5

R 300
Individual with IRP 5 and Travel allowance

R 425
Individual receiving commission

R 550
All other forms of income will be done as per quotation.  
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Website Launch

As you can see we have launched the first version of our website [yjsgfa name="fa fa-smile-o"]. The development of the site is by far not finished as it will be an ongoing process where we will be implementing new features to make the financial services that we offer more attractive to our customers.

You are welcome to leave any comments if you feel like it, you can do so by navigating to the Contacts page and send us an email with any RECOMMENDATIONS.

Please like our page or register as some functionality will only be available once you have registered with us. Remember your contact details will remain safe and we will not distribute any of your details.

Regards

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Online Service

We provide a fully comprehensive online service, covering all the bookkeeping, accounting, tax compliance and advice that a business needs. Not just software and not just expertise, but both – in one all-inclusive, low-cost package. This new, modern approach dramatically improves the service businesses receive – reducing time, cost and risk and improving control.

World Class Support

As professional advisers we help our clients solve complex business problems and aim to enhance their ability to build value, manage risk and improve performance. In order to succeed, we must grow and develop, both as individuals and as a business.

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