SARS - NO MORE EASY ACCESS TO TAX CLEARANCE CERTIFICATES!!!
Cyber Security - Tips on How To Protect Yourself And Your Business
By: Christelle Venter
SARS has dropped a bomb on all South African Taxpayers.
The issuing of the printed Tax Clearance Certificates (TCC) will be terminated effectively from 25 October 2019. They are implementing a more secure and fully electronic Tax Compliance Status (TCS) system.
The goal of the TCS system that was implemented in 2015 was to end the use of printed TCCs, and to stop issuing TCCs at a future date.
What does this mean for businesses & individuals?
My experience of working with Xero cloud-based accounting software compared to desktop-based systems
The ICAEW Practice Committee meeting was held in September in London and it was well attended with people coming from all over the United Kingdom. The attendees were members of all manner of practices and it was great to see everyone’s involvement and commitment towards the goal of improving standards within the profession.
Simple steps to help you and your company with cyber-attacks include:
Beautiful Accounting – Through Anlo and Xero
By: Christelle Venter
When I started working at ANLO Financial Solutions in July this year I had heard about Xero, but I hadn’t had the opportunity to work with it. I found the whole layout of Xero to be very user friendly in comparison to desktop-based accounting software; it gives you the ability to access such a wide range of functions it just blew my mind! (The things accountants get excited about!) After receiving my training in Xero Accounting software, I successfully achieved my Xero Advisor certificate!
Some bank feeds on Xero will stop working!
We have recently made a company decision to move retainer clients from desktop Pastel to a cloud-based accounting software like Xero and the principle reason for this is that it helps the client see what is going on in their accounts in real time. It helps us deliver better service by focusing on reporting and having real time, up to date information to prepare calculations and returns.
You can find out more about our Retainer Packages. Have a look, and feel free to get in touch if you have any questions. We can create a bespoke package for you if none of the off-the shelf offerings quite fit your circumstances.
Provisional Tax Submissions – August 2019 for the Tax Year Ending February 2020
Due to new EU regulations related to the banking industry, some bank feeds will stop working between August and September. This change is designed to improve information security and transparency. Basically, the feeds set up through a third party (e.g. Yodlee) will be stopped and a feed will need to be set up directly with a bank.
Financial Emigration - All You Need To Know
In August it is time again for the first provisional tax submissions for individuals registered for provisional tax along with all companies and entities.
We have received a lot of questions around provisional tax for individuals and if they should be registered for provisional tax. What does this mean for individuals?
We thought it will be a great idea to remind everyone what provisional tax is and ask people to start sending their information to us.
Tips for Start-ups and New Businesses
This has been a hot topic and we have been preparing for these changes for a while, but let’s break it down to understand why this is now important and needs to be considered per individual.
If we go back to what the act says about residency, in South Africa we have a tax-residency based system. This means that South Africans are subject to tax on worldwide income. You are a SA resident if you are ordinarily resident (defined in common law) in South Africa during a year of assessment.
Cashflow Management for Small Businesses
I remember 9 years ago when Anlo Financial Solutions was a start-up business and I had the same questions. Being a CA, you would think I would know all the answers, but the truth is, I knew the theory but I did not know how to practically apply the theory in my own business.
I asked everyone I knew and phoned and researched until mid-night and I learnt a lot of the lessons the hard way.
But here are my top tips on what to know when you are a start-up or new business.
Day 2 at Accountex – 2 May 2019
All business owners struggle at some point with budgeting; cashflow budgets and then later profit and loss budgets. It is normal for businesses to struggle with cash flow in the early stages of the business, and whenever there is growth or uncertainty in the business. Help is at hand, there are tools that can help with cash flow problems by preparing a cash flow budget.
Day 1 at Accountex – 1 May 2019
Our main takeaway from today is that there are sooooo many suppliers and vendors that offer amazing suites of programs that just blow your mind, but that doesn’t mean they are right for all businesses.
As an accountant, it is good to know about all these programs and what they can offer; that there is value in building a relationship with vendors to help our clients to determine what is the best program for them, their business and their budget. There is nothing more frustrating that paying for something you don’t use or don’t know how to use.
How Cloud Accounting is Changing the Way We Work
We, Esmerelda and Annja, went to the Accountex Conference in London for the first time and honestly, we had no idea what to expect. It was AMAZING.
All the big vendors were there and we were able to quiz them about their products, get training and demonstrations and secure treats. It is all about the treats!
We loved the following vendors stalls because we got to learn more about their tools, we had a great time listening to seminars
EMP501 SARS Submissions
The world has changed. How we do business has changed. This is true for accountancy and the financial services industries. If we think back to 10 years ago, accountants faced the problem that business owners wanted to reduce their accounting costs by installing their own accounting desktop program and doing all their own processing. They sometimes appointed qualified or unqualified bookkeepers to lessen the burden in terms of administration and workload. This presented a big problem for accountants because they got involved in a lot of fixing – correcting mistakes that people made or completing administrative tasks that they did not have time for or weren’t aware of.
Workmen's Compensation - What You Need To Know
All employers registered for PAYE with SARS needs to submit their EMP501 reconciliations before the end of May 2019. This is the payroll details for the period starting 1st of March 2018 to 29 Feb 2019.
Have You Received This Email From SARS?
If you are an employer, you need to be registered for Workmen’s Compensation with the labour department. The Return of Earnings (RoE) submissions open on the 1st of April 2019 for the 2018 year and we would love to help you stay compliant.
Welcome to the United Kingdom!
Have you received this email from SARS?
This email was sent to all tax representatives at SARS to encourage tax representatives to
Ensure their companies income tax return has been submitted
And that outstanding tax debt has been/will be paid.
A Day in the Life of…Nastassja
We would like to tell you that the sun is shining and the air is warm, but we are in Scotland and that only happens once a year – if you’re very lucky!
What we can tell you with certainty is that Anlo are now well established in the UK and are ready to help you and your business negotiate all the financial regulations that apply to companies operating here.
A Day in the Life of...Irelene
I usually get to the office bright and early, where a typical day will usually start off with making a cup of coffee. With a cup of coffee in hand I go through my mails and make a list of things that needs to be done, or checking off information that I have received from a client.
A Day in the Life of...Ashleigh
A Day In The Life Of Irelene Hampton…
I love my job, I look forward to getting to the office to see what my day has in store for me.
A typical day starts off with scrolling through my emails and making a checklist of the things that need to be done for the day.
Did you know?
We can provide you with the following services: