Anlo News, SARS, and a Poem: June Newsletter

/

Anlo News

In May we celebrated Esmeralda’s birthday the Anlo way, with lots of cake, sparkles and love! If you ask her, she is 37 years old but to us, she doesn’t look a day older than 21, but with the wisdom and leadership of a life well lived. Thank you Esi, for everything you do and here is to another wonderful year for you.

We also raised money for slipper day at Anlo and here is a photo.

 

Anlo Assist

For those of you that haven’t heard yet, we have developed and launched our own application called AnloAssist

If you know of anyone that has moved to the UK and want to know if they are resident in the UK, please send them our link >> www.anloassist.com

SARS Update

From the 1st of July personal tax returns can be submitted. The deadline for non-provisional taxpayers is usually the end of November 2022 and the 31st of January 2023 for provisional taxpayers.

We encourage all taxpayers to make sure their RAV01 form is correct and contains the most up to date contact details. Please ask someone at Anlo to assist you if you are unsure whether your details are correct.

It is important to note that even though taxpayers are on our tax agents’ profile, we do not necessarily get all correspondence from SARS regarding their affairs. If you receive a notice, Text, or email, please kindly send this on to us and we can investigate. Please don’t ignore it, assuming that we will have seen it.

We also kindly ask that as you get tax certificates from your employers, medical aid, banking or investment institutions, that you send this onto us, and we can start preparing your tax returns. It is a common joke how Annja loves being the first to submit her tax returns. She sets her alarm and wakes up at 12 am to do her return first 😊.

Here are some reasons why you should still file a tax return:

  • You could miss out on a tax refund. With the rising cost of living, any money back from SARS will be most helpful.

  • You may not be able to get credit because the finance institutions will try and get a tax clearance for you, and it will show that tax returns are outstanding.

  • You might get non-submission penalties that accumulate monthly.

  • When you need to retire, you will need to have a full submission record to access your retirement money.

Things to remember for your 2022 tax return

  • Accountancy Fees – When you earn a salary, you cannot claim back the fees you pay to us. BUT, if you earn commission, or you are a freelancer, sole trader (run a business in your own name) you can claim back the accountancy fees paid to your accountant.

  • Cryptocurrency – In South Africa, Cryptocurrency is not regarded as a currency, and they operate independently from the central bank. This means traders do this at their own risk. SARS sees cryptocurrency as being subject to normal tax laws and will be taxed according to South African tax laws. You need to include the values at the fair value/market value of the transaction. The income will be included as self-employment income and any allowable deductions in the production of that income will be deductible

  • We have a helpful business travel logbook template on our website for you to use if you wish.

  • There are a lot of scams out there that look like they come from SARS. Please be vigilant. The recent ones we have seen are

    • SARS e-filing notifications that are phishing emails

    • Letter of demand emails that come from email addresses that are not SARS related or the email is full of obvious spelling mistakes.

    • If you have any doubts, contact us or SARS. It’s always better to be safe than sorry.

Industry Updates

Annja and Roulon recently went to Accountex in London and it was amazing seeing the new developments that have happened since 2019, when we last visited. 

Regulations and governing bodies have made compliance for accountants stricter, but the standard of the accounting qualification is just getting better. 

Now more than ever, the focus is on accountants helping businesses grow and helping the economy recover from what has been a very long hard period in everyone’s lives.

Read More

Last but not least – this is one of the best poems I have ever read. Enjoy

Don't Quit by John Greenleaf Whittier

When things go wrong as they sometimes will,

When the road you are trudging seems all uphill,

When the funds are low and the debts are high

And you want to smile, but you have to sigh,

When care is pressing you down a bit,

Rest if you must, but don't you quit.

Life is strange with its twists and turns

As every one of us sometimes learns

And many a failure comes about

When he might have won had he stuck it out;

Don't give up though the pace seems slow—

You may succeed with another blow.

Success is failure turned inside out—

The silver tint of the clouds of doubt,

And you never can tell just how close you are,

It may be near when it seems so far;

So stick to the fight when you're hardest hit—

It's when things seem worst that you must not quit.

.