SARS Registered Tax Practitioners

Tax complications

SARS Registered Tax Practitioners Tax Returns Pretoria

Tax complications got

you dangling by a thread?

Accounting firm pretoria

Breathe easy with a CA(SA).

The complications that surround tax season are enough to choke the life out of any small business. From the top of your mind, do you know what your Compulsory VAT Registration Threshold is? What exactly does the Income Tax Act mean for a business like yours?

A CA (SA) can fill in the blanks…

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Accounting firm Pretoria

Back to basics: Internal Controls

What is internal control? 

It is the system of checks and balances to ensure the company’s financial records are accurate and reliable being the result of transactions that are carried out and recorded timeously, accurately and efficiently.

The effectiveness of internal controls is dependent on management’s attitude towards controls.

Indications of a strong internal control environment

  • Employees possess the necessary skills and competence required
  • Recruitment agencies or HR checks and verify the details in CVs properly.
  • Proper inhouse training to staff
  • Clear roles and responsibilities
  • Separation of duties are in place between functions of initiation, authorization, recording and reviewing.
  • Monitoring of staff performance

Strong document controls include:

  • Easy to understand designed forms
  • Sequentially pre-numbered documents to be able to track, record and reconcile documents.
  • Orders and Invoices approved by management
  • Payments approved by management
  • Physical verification and inspections are performed
  • Supporting documents accompany orders and deliveries
  • Information on documents comply with VAT requirements
  • Documents are filed regularly and in a logical manner

Strong Accounting and Admin controls include:

  • Reconciliations between accounting records and source documents – bank accounts, supplier statements, customer statements.
  • Overall review done by management.
  • Statutory requirements such as VAT returns, Payroll returns, Tax returns reviewed by management.
  • Filing are done in a logical manner i.e. monthly file for expenses and income.

Tax Clearance Certificates & Tax Practitioners

Tax Clearance Certificates

Tax Compliance Status

SARS’s system makes it easier for taxpayers to obtain a Tax Clearance Certificate (TCC) and the system allows taxpayers to obtain a Tax Compliance Status PIN which can be used by third parties to verify your compliance status online via SARS eFiling.

To be tax compliant you need to:

  • Have all outstanding returns submittedie. VAT returns, PAYE returns, Income Tax Returns
  • All moneys owed to SARS must be up to date.
  • Be registered for the tax products that you are liable for.

The taxpayer can view their status before requesting a certificate and identify non-compliance.

A Tax Practitioner can view your status on your behalf and assist to remedy any non-compliance.

A Tax Practitioner can request your Tax Compliance Status online via eFiling.

Benefits of using a tax practitioner.

  1. It enables the business owner to focus on his core activities while all administrative burdens are dealt with by qualified professionals.
  2. Tax Practitioners have a dedicated Call Center for specific taxpayer related queries.
  3. Tax Practitioners have dedicated offices for taxpayer related queries and can book appointments with SARS.
  4. They provide advice about the application of a tax Act.
  5. Complete or assists with the completion of a tax returns.
  6. A tax practitioner belongs to a regulatory body.
  7. Has to comply with SARS requirements for qualifications and experience.
  8. Participate in continuous professional development programmes to ensure their knowledge stays ups to date.

The Tax Administration Act (2011) has been amended requiring tax practitioners to register with a recognized controlling body, and with SARS.

The list of currently recognized controlling bodies:

Chartered Institute of Management Accountants (CIMA)
Chartered Secretaries Southern Africa (CSSA)
Financial Planning Institute (FPI)
Institute of Accounting and Commerce (IAC)
SA Institute of Chartered Accountants (SAICA)
SA Institute of Professional Accountants (SAIPA)
SA Institute of Tax Practitioners (SAIT)
The Association of Chartered Certified Accountants (ACCA)
Association of Accounting Technicians Southern Africa (AAT(SA))
Law Society of South Africa
General Council of the Bar of South Africa, Bar Councils and Societies of Advocates referred to in Section 7 of the Admission of Advocates Act, 1964
Independent Regulatory Board for Auditors (IRBA)

What are the requirements in order to register as a tax practitioner?

A tax practitioner, must meet the following requirements:

  • Belong to or fall under the jurisdiction of a Recognised Controlling Body as referred to in 240A of the Tax Administration Act.
  • Have the minimum qualifications and experience set by your Recognised Controlling Body.
  • Have no criminal convictions for the offences described in s 240(3) of the Tax Administration Act.
  • Participate in continuous professional development programmes set by your Recognised Controlling Body.

Wessels & Associates is a SARS Registered Tax Practitioner.We can submit the following statutory returns via e-filing or other portals on your behalf:

  • EMP Payroll returns – PAYE, UIF, SDL, IRP5s
  • VAT returns VAT201
  • TAX returns – IT12 or IT14 – Individual taxation and Corporate Taxation
  • Provisional Tax returns IRP6
  • Unemployment Insurance Funds UIF returns
  • Compensation Commission returns
  • Tax Clearance Certificates
  • Tax Compliance Status requests