Tax deadlines, filings and reporting requirements can quickly become a distraction when they are not managed properly. Staying on top of your obligations helps reduce unnecessary risk, avoid penalties and keep your attention where it belongs, on running the business.
Tax deadlines, filings and reporting requirements can quickly become a distraction when they are not managed properly. Staying on top of your obligations helps reduce unnecessary risk, avoid penalties and keep your attention where it belongs, on running the business.
Read practical articles that break down tax and compliance issues in a clear, useful way, so you can understand what applies to your business and what needs attention.
All companies are required to comply with local, national and, where applicable, International statutes. These statutes (or statutory laws) are laws and regulations that pertain to: Statutory...
All companies, large and small – from one-man businesses to corporations – must adhere to a core set of legal requirements. These requirements ensure that all companies in South Africa are in...
Tax hurts, as does doing your taxes. That’s a given. That’s why we use the word ‘taxing’ to describe something that is tiring and drains you. However, paying your taxes can also cost you more than...
One of the most important aspects to tax structuring is the setting up and administration of trusts. Offshore trusts are especially advantageous with regards to your business and personal tax...
Can I dispute a SARS Tax Assessment? If you are wondering if you can dispute a SARS tax assessment, the answer is, ‘yes, you can!’ You have a right to dispute, and you have the right to know exactly...
Before making any business investment, it’s crucial that a due diligence investigation is performed. Due diligence is the process of investigating a potential financial investment, which is meant to...
The National Treasury and the South African Revenue Services have recently released the 2017 Draft Taxation Laws amendment Bill and Draft Tax Administration Amendment Bill for comment. The proposed...
Please note: If the item you want to dispute is not available for selection, you unfortunately will have to lodge the dispute at your nearest Branch Office.
Deadlines and reporting obligations are much easier to manage when the right systems and support are already in place. At The Accounting Team (TAT), we help businesses stay organised, meet their responsibilities and reduce the disruption that comes with last-minute compliance issues.
Running a business brings a constant stream of financial questions. Keep reading for related topics that can influence how you plan, report and respond as things change.
Tax compliance is about meeting the tax obligations that apply to your business. This includes submitting the correct returns, keeping proper records, paying tax on time and meeting SARS requirements throughout the year.
Tax planning looks ahead. It involves understanding how business decisions may affect your tax position and structuring those decisions appropriately within South African tax law. At The Accounting Team, we support both ongoing compliance and tax planning as part of our broader accounting services.
A business should keep the records needed to support the information submitted to SARS. This can include sales invoices, supplier invoices, receipts, bank statements, deposit records, payroll information, tax invoices, contracts and accounting records.
The exact records you need will depend on your business and the taxes you are registered for. Keeping them complete and organised makes returns easier to prepare and means you have the supporting information available if SARS asks for it.
In most cases, SARS requires records supporting a submitted tax return to be kept for five years from the date the return was submitted.
There are situations where records need to be kept for longer. If a required return has not been submitted, the records must continue to be retained until five years after submission. Records relating to an audit, investigation, objection or appeal may also need to be kept until that process has been concluded.
Missing a SARS deadline can result in penalties, interest or other compliance problems depending on the type of return or payment involved.
The best response is to deal with the outstanding obligation as soon as possible rather than allowing missed submissions to accumulate. This may mean filing an outstanding return, making payment, checking the business’s SARS account and addressing any penalties or notices that have already been issued. The appropriate next step depends on what was missed and how long it has been outstanding.
From 1 April 2026, compulsory VAT registration generally applies when the value of taxable supplies made by a business exceeds, or is expected to exceed, R2.3 million in any consecutive 12-month period. If a written contractual obligation means taxable supplies will exceed that amount within 12 months, compulsory registration can also apply.
Businesses below the compulsory threshold may qualify for voluntary VAT registration in certain circumstances. The general voluntary registration threshold is now R120,000 in taxable supplies over a 12-month period, subject to the applicable requirements and exceptions.
PAYE, or Pay-As-You-Earn, is employees’ tax that an employer deducts from remuneration and pays to SARS on behalf of employees.
An employer generally needs to register for PAYE within 21 business days of becoming an employer if any of its employees are liable for normal tax. Employers also need to meet the related payroll reporting and reconciliation requirements that apply to them.
Provisional tax is a way of paying income tax during the year rather than leaving the full liability until assessment. It is not a separate tax.
Companies automatically fall within the provisional tax system. Generally, two provisional payments are required during the year based on estimated taxable income, with a third voluntary top-up payment available after year end if needed. The first payment is due within six months of the start of the year of assessment and the second by the end of the year of assessment.
Common problems include missing filing or payment deadlines, keeping incomplete supporting records, failing to reconcile accounting information before submitting returns and overlooking registration obligations as the business grows.
VAT and payroll can also create problems when the underlying bookkeeping is inaccurate or outdated. Regular reconciliations, organised records and a clear compliance calendar make it much easier to identify issues before a deadline arrives.
Yes. We help South African businesses manage their ongoing tax obligations as part of our accounting services. This includes tax preparation and filing, VAT, payroll-related compliance and keeping the underlying accounting records in order so submissions are supported by accurate information.
We also keep track of changing requirements and work with you throughout the year, rather than treating compliance as something that only needs attention when a deadline arrives.
Yes. If your business has outstanding filings, the first step is to establish exactly what has been missed and what information is available. We can help bring the underlying accounting records up to date, identify outstanding tax obligations and work through the submissions that need attention.
If SARS has already issued penalties, assessments or requests for information, those will also need to be reviewed as part of getting the business back on track. The process will depend on the extent of the outstanding work, so we start by understanding the current position before determining what needs to be addressed first.
