Tax Consulting Services – Managing your own taxes or that of your business can be the most frustrating and difficult task if you aren’t a bookkeeper, tax consultant or practitioner. Even if you do have financial and bookkeeping knowledge, it can still feel like an impossible task if you aren’t updated on the latest standards and requirements of the South African Revenue Services (SARS).
Luckily, obtaining tax consulting services assistance or rendering a professional to do your taxes on your behalf, is an easy task. There is a multitude of professional, tax consulting practices that are trained and equipped with the right skill and knowledge to manage your taxes for you.
They are informed of the latest SARS regulations, requirements and procedures pertaining to businesses and individuals. Don’t let your taxes become a frustration. Instead, contact a professional. It is so much easier to acquire the services of a professional.
Pay a minimal fee and enjoy the peace of mind that comes from knowing your taxes are in safe and capable hands.
Starting a business: there are different tax requirements for different businesses. Contact a tax consulting practitioner to find out what your tax requirements are.
VAT. Businesses with an annual income of R1 000 000 and above or has a projective income equal to R1 000 000 and more, need to be registered for VAT. Voluntary VAT registration can be done if the monthly projective income is equal to, or exceeds R20 000. VAT returns need to be submitted at 1, 2, 4, 6 or 12 month intervals. Contact a professional to guide and assist you regarding your VAT.
Pay as You Earn (PAYE) Tax. If you are employed by an employer or employ individuals, you need to be registered for PAYE. This type of income tax is applicable to all employees that earns a salary of more than R46 000 per annum.
Income Tax (IT). Employees that earned less than R120 000 for a respective year from one employer, need not submit a return to SARS. If your earnings exceed this amount for a given year, it is best to consult a tax consultant to advise you regarding the Income Tax return process.
Managing your taxes shouldn’t be a nightmare and the dreaded event of the year. Rather contact a professional tax consulting practitioner to manage it for you.
Contact us for the easy solution to frustrating tax problems.