Unlock Compliance with Ease: Navigate South Africa’s New Beneficial Ownership Laws with Our Expert Help!
From 1 April 2023, South African businesses must disclose their beneficial owners to the CIPC in line with the Companies Act. Furthermore, SARS necessitates companies to report shareholders who possess an interest of 5% or more in their tax declarations. Why the Change?: This mandate compels companies to maintain and submit beneficial ownership records to […]
Effective Steps to Successfully Close a Business in South Africa (Guide)
Effective Steps to Successfully Close a Business in South Africa Who should be reading this article? Anyone whose business is no longer trading and wishes to wind it down Anyone who wants to liquidate their business Anyone who has lost interest in their registered business and now wishes to discontinue it KEY TAKE AWAY POINTS: […]
Timely Financial Reporting/Financial Statements preparation
Financial statements are intended to meet the needs of decision-makers as well as providing useful information to shareholders. As a result, the timely preparation of these reports is essential. Financial statements must be available in time to inform decision-making. Therefore, it is important that financial reports/financial statements should be published as soon as possible after […]
Are you ready to exit from your business?
Are you ready to exit your business? Some people go into business with the aim of building a good business then sell it. Others spend years building their businesses so that they may leave something for their children. Whatever the intention, it is clear that at some point one will exit their business. […]
How to avoid or reduce the risk of a SARS audit
By now we all know that SARS is looking to raise more tax revenue to make up for revenue collection shortfalls. This means SARS may and will do all they can to increase revenue collections. It will not be surprising to find that SARS audit teams will target taxpayers in order to raise additional income. […]
Owing SARS, what are your options?
If you follow our posts, you will have come across one of my articles that dealt with the approach SARS has taken to deal with the non-submission of a tax return. This is a follow-up to this article. So now you read that SARS will prosecute you for non-submission and charge you an R5 600 […]
Choose the right Accounting Software & Business App
Choose the right Accounting Software & Business App:Key Factors for Successful Software Adoption It goes without saying, there are thousands of software and Business Apps available on the market and on the internet. Additionally, each accounting software may also come with a thousand business apps on their various app marketplace. So, one has to choose […]
How to pay for your house (bond) quicker
How to pay for your house (bond) quicker Do you want to know how to get fewer years to pay off your first property or how to pay for it quicker? Let’s look at a few ways through which you can do this, pay off your mortgage quicker. For this article, we will assume […]
Why accountants should see themselves as doctors to their clients
Why accountants should see themselves as doctors to their clients: Imagine your business takes a visit to the doctor. Now imagine this doctor is an accountant, your business advisor or mentor. How would the visit go and what should you get out of that visit? I have not been to a doctor in a […]
Why do Small businesses fail?
Why do Small businesses fail? According to statistics, 50% of small businesses fail within 24 months of launch. According to research and report by the UWC, between 70% and 80% of small businesses fail with 5 years. This is a significant number of small business that fails. The consequences of this to the economy and […]