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Taxation Services
What is Income Tax?
Income tax is the normal tax that you pay on your taxable income.
Taxable income is your total income less any amounts (allowances) that SARS allows you to deduct. Examples of income include:
- Remuneration (income from employment), such as salaries, wages, bonuses, overtime pay, taxable (fringe) benefits, allowances, and certain lump sum benefits
- Profits or losses from a business or trade
- Director’s fees
- Investment income, such as interest and foreign dividends
- Rental income or losses
- Certain capital gains
- Do you need to submit an income tax return?
You do not need to submit a return if ALL of the criteria the link applies. Personal Income Tax (sars.gov.za)
Short answer: if you receive any income besides a salary, then you need to submit a tax return and possibly be registered for provisional tax (a way to pay over any tax due that is not deducted by an employer).
What is Provisional Tax?
Provisional Tax is the mechanism by which you pay SARS amounts related to your income tax assessment.
It is not a separate tax, it is just a way to make a “provisional” payment towards your income tax. It contains the best estimate of the year’s total taxable income as well as the related estimate of total tax payable for the year. Half of this estimated tax amount is then usually paid over to SARS. You can find further information on this link Provisional Tax (sars.gov.za)
The first provisional tax submission and payment is required 6 months after the start of the financial year, usually at the end of August and the second submission and payment is required at the end of the next 6 months, which is usually February.
Company Tax Services
Get value when you choose the package over the individual priced returns!
Company Income Tax Package*
Included in the package, you get:
+ Preparation and submission of the 1st, 2nd and 3rd provisional tax returns.
+ Income tax return and completion of the supplementary return if required by SARS.
+ We will do everything as detailed in the individual sections for each of the returns due to SARS.
* Make use of this package only if another accountant has prepared your financial statements.
Enquire for custom pricing
Company Provisional Tax 01
We will:
+ Review your financial records for the first six months of the financial year
+ Determine the appropriate tax rates to apply and work with you to build the best estimate for the total year’s income and tax amount
+ Confirm the final figures with you for completion
+ Submit the IRP6 provisional tax return on eFiling return, or provide you with the figures to fill in
+ Submit the first round of supporting documents if using a lower than the ‘basic amount’
Enquire for custom pricing
Company Provisional Tax 02
We will:
+ Review your financial records for the first six months of the financial year
+ Determine the appropriate tax rates to apply and work with you to build the best estimate for the total year’s income and tax amount
+ Confirm the final figures with you for completion
+ Submit the IRP6 provisional tax return on eFiling return, or provide you with the figures to fill in
+ Submit the first round of supporting documents if using a lower than the ‘basic amount’.
Enquire for custom pricing
Company Income Tax Submission
We will:
+ Collate all the documentation required
+ Prepare and submit both provisional tax returns
+ Prepare your company income tax return (ITR14)
+ Submit your ITR14 to SARS
+ Prepare and submit the first round of documentation for an IT14SD reconciliation, if requested by SARS
+ Produce a tax clearance status report
* This price is provided I have completed and submitted both provisional tax returns. If not, please enquire about the price.
Enquire for custom pricing
Individual Tax Services
Get value when you choose the package over the individual priced returns!
Individual tax return package*
Included in the package, you get:
+ Preparation and submission of the 1st, 2nd and 3rd provisional tax returns.
+ Income tax return and completion of the supplementary return if required by SARS.
+ We will do everything as detailed in the individual sections for each of the returns due to SARS.
* Make use of this package if you need your personal income tax returns submitted or you are a sole proprietor.
Enquire for custom pricing
Individual Provisional Tax 01
We will:
+ Review your financial records for the first six months of the financial year
+ Determine the appropriate tax rates to apply and work with you to build the best estimate for the total year’s income and tax amount
+ Confirm the final figures with you for completion
+ Submit the IRP6 provisional tax return on eFiling return, or provide you with the figures to fill in
+ Submit the first round of supporting documents if using a lower than the ‘basic amount’.
Enquire for custom pricing
Individual Provisional Tax 02
We will:
+ Review your financial records for the second six months of the financial year
+ Determine the appropriate tax rates to apply and work with you to build the best estimate for the total year’s income and tax amount
+ Confirm the final figures with you for completion
+ Submit the IRP6 provisional tax return on eFiling return, or provide you with the figures to fill in
+ Submit the first round of supporting documents if using a lower than the ‘basic amount’.
Enquire for custom pricing
Individual Tax Submission (Self Assessment)
We recommend that you do not blindly accept SARS’s assessment and have a professional check it out for you. If you require assistance to verify the accuracy of the auto-assessment
We can assist you by:
+ Ensuring that you do not need to submit a return based on no other income received or deductions claimable
+ Accepting or rejecting the auto-assessment to SARS based on the above timeously
Enquire for custom pricing
Individual Tax Submission
We will:
+ Send you an income tax onboarding questionnaire
+ Collate all the documentation required
+ Prepare your income tax return (ITR12)
+ Submit your ITR12 to SARS
* This price is provided I have completed and submitted both provisional tax returns. If not, please enquire about the price.
Enquire for custom pricing
VAT Services
VAT Registration
It is mandatory for a business to register for VAT if the total value of taxable supplies made in any consecutive twelve-month period is exceeded or is likely to exceed R1 million.
We will help as with:
+ Document collection and review
+ eFiling application
+ Setting up of an eFiling profile
+ Registration of tax type on eFiling
+ Your VAT registration may be cancelled if certain requirements are met.
Enquire for custom pricing
VAT Submission
Need your VAT return submitted? Get in touch with us now!
What is the Employers Annual Reconciliation?
During the Employer Reconciliation process, employers are required to submit an EMP501 declaration which reconciles:
the taxes collected from employees per your payroll
with the monies paid to SARS on a monthly basis via the EMP201 submission
and the total tax value of employees’ income tax certificates, for the respective period.
In short, have you paid SARS the correct amount for your employees’ tax. If you use an up to date payroll package and didn’t backdate any changes, this reconciliation should balance.
What is the EMP201?
Every month employers are required to submit a summary of the tax amounts owed to SARS due to employment contracts and pay this amount over.
There are three main taxes owed, PAYE, UIF and SDL*
These tax amounts are calculated in the payroll process and then submitted on the EMP201 form. The form must be submitted and the related payment made by the 7th of the month after the payroll period, or the previous business day if that falls on a weekend or public holiday.
*SDL is only required when the expected payroll amounts will exceed R500,000 in the coming 12 months.
PAYE Services
PAYE Registration
PAYE Registration
We can assist by:
+ Gather all documentation and tax numbers related to the PAYE registration
+ Register your entity for PAYE, UIF and if applicable, SDL
met.
Enquire for custom pricing
EMP201 Submission
Need your EMP201 return submitted? Get in touch with us now!
Enquire with us.
EMP501 Submission
Need your EMP501 return submitted? Get in touch with us now!
Deferred Payment Arrangements with SARS
Where a taxpayer is unable to pay a tax debt in a single amount within the prescribed payment period, provision is made for a formal installment payment arrangement in accordance with prescribed criteria and procedures. A tax debt may be paid at a later date or in instalments through an agreement referred to as a deferral.
The overriding intention of a deferral is to provide temporary relief when the taxpayer’s financial position does not make immediate payment possible. It is, therefore, an option only when the taxpayer’s financial position is anticipated to improve.
Please note the following:
+ SARS has the option to decline the request
+ Interest will accrue on any unpaid debt
+ If you don’t adhere to the conditions of the payment arrangement the payment agreement will be terminated and normal collection proceedings will resume
Compromise Arrangement with SARS
Where a taxpayer is unable to pay a tax debt the taxpayer may apply for a compromise.
A compromise is an agreement in terms of which the taxpayer undertakes to pay an amount that is less than the full tax debt and SARS undertakes to permanently write-off the remaining portion.
Upon such application, SARS will inspect the taxpayers’ financial information and reasons for the compromise in order to determine if the tax debt is uneconomical to pursue. SARS may authorise a compromise provided that such agreement secures the highest net return from the recovery of the tax debt and is consistent with good management of the tax system and administrative efficiency.
Please note the following:
+ SARS has the option to decline the request
+ Interest will accrue on any unpaid debt
+ No compromise can be given if there was a compromise in the previous 3 years
+ A compromise cannot be considered if a tax debt is being disputed by the taxpayer i.e. under objection/appeal or the
+ Taxpayer’s tax affairs are not up to date
+ An application can be made to temporarily write off a tax debt during business rescue proceedings
Dealing with SARS
Deferred Payment Arrangement
We will:
+ Gather all information and documentation required
+ Prepare and submit the request to SARS
+ Following up accordingly and negotiate (if required) with SARS thereof
+ Get in touch with us now!
Compromise Arrangement
We will:
Gather all information and documentation required
Prepare and submit the request to SARS
Following up accordingly and negotiate (if required) with SARS thereof
Get in touch with us now!
Dispute with SARS
A notice of objection (NOO) is an alternative to a taxpayer who has been issued with an unfavourable assessment when there is a legitimate claim to be made against the assessment.
We will:
+ Gather all information and documentation required
+ Drafting the motivational letter
+ Prepare and submit the request to SARS
+ Following up accordingly and negotiate (if required) with SARS thereof
+ Get in touch with us now!
Application for Tax Directive
Application for a tax directive from the South Africa Revenue Service (“SARS”) to deduct tax at a pre-determined fixed rate and not the standard tax rate irrespective of the amount actually earned.
Santos Business Services can help with this application and will:
+ Gather all information and documentation required
+ Submit the completed application to SARS
+ Get in touch with us now!
Other Tax Services
Public Benefit Organisation – Income Tax Exemption Application*
We will:
+ Gather all information and documentation required to apply for an exemption approval from SARS.
+ Prepare all documentation and information required to submit the application to SARS.
* We offer this service for existing PBOs or NPOs (non-profit organisations)
Enquire for custom pricing
Personal Income Tax & eFiling Profile Registration
We will:
+ Collect the documents
+ Make a SARS appointment
+ Setup your eFiling profile
+ Register for income tax and provisional tax on eFiling if necessary
+ Confirm all outstanding tax returns based on your eFiling status.
Enquire for custom pricing
Outstanding Tax Return Analysis
We can help you check if you need to submit a tax return and what returns are outstanding to SARS by:
+ Setting up an e-filing profile and running a tax status report
+ Confirming what returns SARS sees outstanding
+ Advising you on how to compile the relevant data to complete any outstanding submissions with possible tax optimizations
+ If any returns are required giving you guidance on the best ways to submit.
Enquire for custom pricing
Tax Issue Consultation
If you need some individual or business tax support, then we’re going to help. Sessions start at 30 mins minimum.
Complete the enquiry form and let me know the amount of time you require, starting at 30 mins. If you’re not sure, start at 30 mins and we can take it from there. Once we’ve received your payment, we will send over the Zoom booking link and get the call set up as soon as possible.
Enquire for custom pricing
Disclaimer: we will endeavour to assist you to the best of my ability with the request with the South African Revenue Service (“SARS”). Our service includes but is not limited to the collection of all information and preparation of the request as required, however, the request for additional information and verification remains at SARS’ discretion. All information as provided by you, is considered true and accurate and we will not be held responsible or liable for any omissions or misrepresentation on your part nor for any delays on SARS processing time.
