Reminder: Company Taxes Due
/As we approach the end of February 2025, it's time for a friendly reminder about some important tax deadlines. The second provisional tax payment is due by the end of February 2025.
This is a crucial deadline for all taxpayers, and it's essential to ensure that your payments are made on time to avoid any penalties or interest from SARS.
Additionally, if your company has a February 2024 year-end, you need to file your company's tax returns before the end of February 2025 if you haven't already done so.
Please contact us if you are unsure whether your company's financials and tax have been submitted. We will gladly look this up for you and make sure everything is submitted.
Common Mistakes to Avoid:
Underestimating Income: One of the most common mistakes is underestimating your taxable income, which can lead to underpayment of provisional tax and subsequent penalties.
Missing Deadlines: Failing to make your provisional tax payments by the due dates can result in penalties and interest charges from SARS.
Incorrect Calculations: Ensure that your calculations are accurate and that you have accounted for all applicable rebates and credits.
Not Keeping Records: Maintain detailed records of your income, expenses, and tax payments to support your calculations and avoid discrepancies.
We understand that tax matters can be complex and sometimes overwhelming. That's why we're here to help. If you have any questions or need assistance with your tax filings, please don't hesitate to reach out to us. Remember, we're all human, and it's always better to ask and check with us to ensure everything is in order.
And now, for a little humour to lighten the mood: Why did the accountant break up with the calculator? Because it couldn't handle their "complex" relationship!
Thank you for your attention, and please feel free to contact us with any questions or concerns. We're here to support you every step of the way.
