What every employer should know about tax management
February 21, 2022

It is tax season once again, a time that strikes terror into the hearts of some business owners, but worrying about SARS is usually just the result of not being fully prepared for your obligations at this time.

Even start-up business owners realise that if they have employers they need to register them as taxpayers, pay their PAYE to SARS every month in accordance with the schedule of salaries and issue every employee with an IRP5 certificate at the end of each tax year.

This sounds simple enough, but can involve a huge amount of work in the case of even medium-size businesses – and then there are many other aspects of complying with and dealing with SARS. There is no question that you can save yourself a lot of headaches if you outsource the services of a good Accountant who provides effective Tax Management services.

What every employer needs to know about tax management can actually best be illustrated by citing a few examples of what a good Tax Management service provides…

  • The completion and submission of annual tax returns including all filing of the required documentation to SARS
  • The application for business & private tax clearance certificates issued by SARS and confirming that the applications for tax affairs are in order
  • The follow up on tax assessments and cit, pit, paye and vat – and lodging objections to tax assessments which includes ongoing liaison with SARS.
  • Applications for tax directives and instructing SARS to your employer or fund manager to deduct tax
  • The registration and de-registration of tax (uif, paye, vat, income tax)
  • The salary structuring for employee tax and following a tax directive from SARS to assist with all calculations
  • Applications and arrangement of deferred tax payments – Via SARS e-Filing, making payment arrangements of outstanding debt
  • Application for section 22 tax compromise and other documents like compliance certificates verifying your company’s tax compliance status

The professional business service that handles all your tax matters

Platinum Business Services (PBS) offer excellent Accounting and Tax Management services just as a small part of the comprehensive service we offer to cover every aspect of starting, managing and building a business.

We do this to give you an effective tool to see a return on your investment, alleviate the administrative strain of the tax season and ensure you are rewarded with a good return with minimal costs paid to the government!

Contact us if you are having nightmares about your obligations to SARS – it need not be so and with PBS behind you, it becomes just another of the multiple facets of your business that we help you to maximise to your benefit and keep you a cut above your opposition!

Discover how Platinum Business Solutions can transform your business