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Private Company Registration
A private company is the most common and simplest form of company to be registered. example engineering firms, consulting firms and general trading.
Non-Profit Company Registration
A non-profit company is a company incorporated for public benefit or other object relating to one or more cultural or social activities, or communal or group interest.
Personal Liability Company Registration
A personal liability company most common amongst lawyers, accountants and doctors. The directors of personal liability companies are jointly and severally liable together with the company for any debts and liabilities arising during their periods of office.
The “Compensation for Occupational Injuries and Diseases Act” (COIDA) states that all South African persons who employ one or more employees, in connection with their business must comply with the COIDA Act.
According to the Tax Act, an employer must register with the South African Revenue Service (SARS) within 21 business days after becoming an employer, unless none of the employees are liable for normal tax (Earn less than R5500 per month) .
If you have an employee who works 24 hours or more in a month for you, you need to register with the Department of Labour for UIF.
It is mandatory for a business to register for VAT if the total sales amount is likely to exceed R1 million per year.
Any person (local or foreign) who import goods into South Africa must register as an importer
The Register of Contractors grades and categorises contractors according to financial and works capability. It is mandatory for public sector clients to apply the Register of Contractors when considering construction works tenders.
BBBEE certificate to show that your company is black-owned. This will increase your chances of getting a tender or funding
Tax Clearance Certificate
A tax clearance certificate to show that the company is tax-compliant i.e. you have filed all outstanding tax returns and paid all your SARS debt.
A shareholder certificate proves your shareholding in a company.
CIPC Annual Returns
All companies and close corporations are required by law to file their annual returns with CIPC within a certain period of time each year.
Letter of Good Standing
A letter of good standing is a certificate issued by the department of labour which indicates that you have submitted your returns of earning and also paid your workmens compensation.
You are required to update your information at CIPC if you would like to change the following: 1. Company name , registered address or adding/removing a director.
Personal Tax Return
Individuals and sole traders who earn an income (from a salary, director fees, commission, trading fees, dividends etc.) must file a tax return every year before 31 October.
Corporate Tax Return
Companies and Closed Corporations who earn an income (from a sales, service fees fees, commission, dividends fees, etc.) must file a tax return every year within 12 months after their financial year end.
VAT is now levied at the standard rate of 15% on the supply of goods and services by registered vendors. A vendor is required to submit VAT returns and make payments of the VAT liabilities (or claim a VAT refund) every two months before the 25th.
Every employer must submit a EMP201 and the payment within 7 days after the end of each month
Payroll Software Only
If you have employees, then you will need to deduct PAYE, UIF and SDL from their salaries. You are also required to send them a payslip. Simple pay is a cloud based payroll software that helps you manage your payroll administration.
Xero is a cloud acccounting software with all the time-saving tools you need to grow your business. Xero is secure and reliable and our experts are here to support you 24/7.
Accounting lite, is designed for start ups to be able to send invoices, quotes and capture expenses.
Accounting standard, is designed for startups that need back-office support for their accounting, payroll and tax requirements.
Accounting premium, is designed for startups that need expert advice and are looking to grow their business.
Each company is required to prepare annual financial statements as per the companies act. When filing annual returns to SARS and CIPC you will be required to submit financial statemements.