February tends to be the month where tax reality catches up with people. The second provisional tax payment was due, estimates suddenly need to be accurate, and any gaps in the books start to show. Over the past month we spent a lot of time helping clients avoid the common
Dear Client, This is a friendly reminder that provisional tax returns and payments are due by the end of February for: It is important that provisional tax estimates are reasonable and accurate, as SARS imposes penalties and interest where estimates are materially understated or where returns are not submitted. Key
January sets the tone for the year ahead. How you start your books now affects everything that follows, from budgeting and forecasting to tax and compliance. A little structure early on creates clarity and takes pressure off later. This month we focused on helping business owners reset their finances, plan
If you earn commission, your tax picture works a little differently from someone who only earns a salary. When more than half of your income comes from commission, SARS may allow wider work related deductions and may also require you to register as a provisional taxpayer. Understanding how your income
With the financial year-end approaching, businesses need to carefully consider SARS compliance, particularly regarding entertainment expenses, including Christmas parties, year-end functions, and other costs. Here’s a summary of considerations for businesses as they approach the financial year-end: 1. Christmas Parties and Entertainment Expenses 2. Staff Gifts and Bonuses 3. Timing of
Following on from our recent post: SARS Requirements for 2025: What Your Business Needs to Know – here’s a specific look into Maintain Audit-Ready Records Keeping audit-ready records isn’t just about compliance; it’s a way to keep your business organized, transparent, and prepared for any financial scrutiny. Whether you’re preparing
