COMPLIANCE

WHAT IS COMPLIANCE?

“Compliance” can be defined as the act of adhering to or conforming with laws or rules. Compliance in the tax world means that taxpayers have met their legal obligations under the tax laws, this includes ensuring that all tax returns are submitted and tax liabilities are paid. It is important to note that ones compliance status is fluid and is subject to continued compliance with all tax laws.

Here at Business Concierge Advisories we are committed to ensuring that you and your business are continually compliant.

Our Services

Owning and managing a business

Every year, owning and managing a business is becoming more challenging with increased legislation and compliance issues. Therefore we offer all accounting and tax services for Sole Proprietors, Companies, Close Corporations, Trusts and all other business entities, to ensure that your business operations will run more efficiently.

Our professional business accounting solutions include:

• Bookkeeping (weekly, monthly or yearly)

• Submission of monthly and yearly statutory returns (PAYE, UIF, SDL, VAT and Workmen’s Compensation)

• Year End Financial Statements

• Management Statements and Cash Flow Projections (Banks and Investors)

• Payroll (monthly salaries, PAYE reconciliations and IRP5 certificates on Easy File)

• Audit preparation – Complete Audit File for Companies and Trusts

• Annual Returns – submissions to CIPRO

•Accounting Officer

Individual Tax Services

Individual Tax Services.

• Preparation and submission of annual income tax returns (including salary, travel allowance, medical, RAF, capital gains, investment income, etc).

• Registration, preparation and submission of provisional Tax Returns.

• Calculation of capital gains tax

• Expense schedules and financial statements for commission earners, contractors and sole proprietors.

AND SO MUCH MORE!!!

Statutory obligations

Are you overrun by your statutory obligations? Business Concierge Advisories offers a range of services which allows you to focus on the practical aspects of running your business.

Our statutory services include the completion and submission of all documents required by the CIPC (Companies and Intellectual Property Commission) to maintain CC’s and companies according to legislation.

We do the following registrations:

•Name Reservations

•Registration of Close Corporations

•Registrations of Companies

•Amendments to Founding Statements

•Appointment of Accounting Officer

•Changes and Appointment of Directors and Members

•Appointment of Auditors

•Workman’s Compensation Commissioner

•Members Interest Certificates

•Provide BEE Affidavits

•Registrations at SARS for:

•PAYE

•VAT

•UIF

•Provisional Tax

•Tax Clearance Certificate

•Registrations for Import and Expor

Tax Preparation

Benefits of Outsourcing Tax Preparation

• Saved Cost- Your business saves more when you work with us. Reduction in costs, ensures that your profit margin keeps soaring.

• Time Savings- If you have never done this before it would take significantly longer to prepare and submit. We can help you save this time and avoid penalties.

• Reduction in Errors- Tax is a complicated process that needs precise skills.

• Streamlined Methodologies- Our team follow the same methodology with the ultimate goal of compliance and meeting filing deadlines.

• Data Security- We guarantee safety and confidentiality of your data.

By using our services, you will ultimately improve processes and procedures, without much efforts. This will assist you in having improved relations with your creditors and also avoiding penalties due to late or non-payment.

SARS Registered Representative

A registered representative is a person who is appointed with full rights to act on behalf of another legal entity (e.g. Companies, Trusts, etc.), often Public Officers, Accounting Officers, or administrators, etc. If a legal entity has more than one Registered Representative, then one must be nominated as the official “representative person” and be registered with SARS

Every Company needs to have an appointed Registered Representative at SARS. This will give them access to the Profile on E Filing and Update the information with SARS for the Company.

We Can assist with appointing your Registered Representative at SARS according to your Company. We handle all the paperwork and assist you with the required documentation to process the application.

B-BBEE

The Broad-Based Black Economic Empowerment programme (B-BBEE) is intended to stimulate the process of participation of previously disadvantaged groups in the economy. Government regulations require all South African businesses to be B-BBEE compliant and B-BBEE registration proves that your company is committed to the empowerment of previously disadvantaged South Africans.

At Business Concierge Advisories you get the most efficient B-BBEE Affidavit services. Our professional, highly-qualified team will ensure that the issuing of your valid B-BBEE certificate runs smoothly.

Benefits of B-BBEE Compliance

• It provides a competitive edge which offers the opportunity to grow your customer base.

• Your company can bid for government tenders.

• Your company is eligible tax incentives and financial grants, specifically aimed at the B-BBEE program.

• You can highlight your B-BBEE level in all business marketing material e.g. website, brochures and flyers.

SHELF COMPANY

Shelf Company (also off-the-shelf company); (shelf corporation)

When you buy a Shelf Company in South Africa you get a completely new and registered Pty Company with a Company Registration Number that you can use almost instantly. The Company Registration Number is 100% in order from the get-go.

You simply need to change the name to something you like, and add the directors later.

• Company Name Reservations & Changes, Director Changes & Address Changes

PAYE

PAYE or Pay as You Earn, is employee tax that is taken from your salary, by your employer, to be paid to SARS.

It is important to ensure the submission of accurate and complete tax returns, as incomplete or inaccurate tax returns could lead to stressful penalties, interest implications and even court appearances.

For advice on your company's PAYE tax status, contact us today.

Contact us today for all your Pay As You Earn needs, we can assist you with;

• PAYE Registrations

• Submission of PAYE Returns

• Objections

• PAYE Reconciliations (IRP5)

UIF

You are required by law to register with the Unemployment Insurance Fund (UIF) and contribute towards the fund if you have employed people for more than 24 hours per month.

The monthly contribution for UIF is two percent of your worker's gross salary per month. You must deduct one percent of your worker's gross salary per month and you as the employer contributes one percent.

u Filing is a secure Online system introduced to Employers to register employee uif , declare and pay UIF contributions. Employees can also use the system to apply for benefits such as unemployment, maternity and illness.

We can assist with registering your business for UIF and assist with U Filing, Handling all documentation and statutory documentation required by UIF and SARS.

Workman's Compensation (COID)

You are required to cover your workers against occupational diseases, injuries and death, If your business has more than 1 employee. You are required to register with Compensation Fund to take insurance cover against your employees in the event of injuries and diseases in your workplace.

The Compensation for Occupational Injuries and Diseases Act, (130 of 1993), also known as The COIDA Act in South Africa, It is mandatory for all companies or individuals, who employ one or more employees, to register with the Workman’s Compensation Fund within 7 working days from the date of employment.

As of 10 March 2021, all South African households who employ Domestic workers, Gardeners, Nannies, Caregivers and Drivers etc. Are also required to register for COID at the workers compensation fund.

The Compensation Fund covers an employee who is:

•permanently employed.

• a domestic worker in a boarding house

• an apprentice or trainee farm worker, and a worker paid by a labour agency.

Upon Registration and submitting the ROE (Return Of Earnings)

a "Notice of Assessment" is recieved. This is payable to Workmans Compensation in order to cover your business with Workmans Compensation. A Letter of Good Standing will then be available for your business.

ACCOUNTING

Here at Business Concierge Advisories we work with each client to tailor our accounting services to meet your specific needs. Our comprehensive range of accounting solutions are designed to help business owners concentrate on business development while we focus on providing accounting solutions that produce timely and accurate financial statements.

Contact us today to streamline your accounting functions!

pAYROLL

Many companies consider payroll a time consuming and costly process which demands specialist expertise. This can be true if you do not possess the necessary skills to accurately execute payroll for your business. Business Concierge Advisories provides payroll outsourcing services that will suite your company’s needs. Our aim is to streamline your payroll process while cutting costs.