Chartered accountants and tax practitioners
We provide Accounting, Advisory and Taxation services to the Small, Medium and Micro Enterprise (SMME) Market.
We make use of a web-based accounting package to process accounting entries. These include sales, purchases, banking and payroll transactions. Where Clients are VAT registered, we will prepare and file the VAT 201 return. Monthly Management Accounts can be produced on request.
We produce Financial Statements in accordance with the International Financial Reporting Standard (IFRS) for Small and Medium sized Entities (SMEs). Financial statements are either compiled or reviewed. Compilations are done in accordance with the International Standard on Related Services (ISRS) 4410 (Revised) Compilation Engagements. Reviews are done in accordance with the International Standard on Review Engagements (ISRE) 2400 (Revised), Engagements to Review Historical Financial Statements.
We advise on tax compliance and tax planning. In addition to PAYE and VAT, we also prepare and file provisional tax returns and annual income tax returns and check the associated assessments.
We prepare resolutions which may be required by directors and other statutory office bearers. We also file company Annual Returns with the CIPC and complete and lodge the Financial Accountability Supplement.
We make use of a web-based payroll package to provide payroll services to Clients with 50 employees or less. We also file the applicable returns with the SARS, namely the EMP201 and EMP501.
This section on Financial Statements has been prepared with the intention of assisting those with a non-financial background in understanding and interpreting a set of financial statements which have been prepared in accordance with the International Financial Reporting Standard for Small and Medium-sized Entities. For example, the business owner and/or non-financial executive.
Taxing statutes are open to interpretation. Sometimes certain terms are undefined in the law. In other instances, the intention of the legislature may not clear from the text. It may also be that the taxpayer is of the opinion that the taxing provision has been avoided. Whatever the case may be, disputes will arise. In certain of these instances the parties may resort to litigation. Consequently, a body of case law develops and remains an ongoing source of reference.