Tax Services Johannesburg
- Home
- Services
Our Services
Tax Services We Offer
At Ready Accounting, we offer personalised and innovative tax consulting and accounting services. Our team combines extensive expertise with a proactive approach to optimise your tax situation and ensure compliance with all regulations. We go beyond traditional accounting by providing strategic advice tailored to your unique financial needs.
Tax Services for Companies
Corporate Income Tax
- What it is: Corporate Income Tax (CIT) is a tax levied on the profits of a company. It is calculated based on the taxable income of the company after deducting allowable expenses from the gross income.
- When it is due: Corporate Income Tax returns must be submitted annually. For companies with a February year-end, the tax return is due by the end of February the following year. Payments of CIT are typically made in three installments: two provisional payments during the tax year and a final payment upon submission of the annual return.
Provisional Tax Returns
- What it is: Provisional tax is a method of paying tax in advance to spread the tax liability over the year, rather than paying a large lump sum at the end of the year. It is required for individuals who earn income other than a salary and for companies.
- When it is due: Provisional tax returns are due twice a year. The first payment is due six months into the company’s financial year, and the second payment is due at the end of the financial year. A third, voluntary payment can be made six months after the year-end to settle any outstanding tax.
Provisional Tax Returns
- What it is: Provisional tax is a method of paying tax in advance to spread the tax liability over the year, rather than paying a large lump sum at the end of the year. It is required for individuals who earn income other than a salary and for companies.
- When it is due: Provisional tax returns are due twice a year. The first payment is due six months into the company’s financial year, and the second payment is due at the end of the financial year. A third, voluntary payment can be made six months after the year-end to settle any outstanding tax.
Value Added Tax (VAT)
- What it is: Value Added Tax is a consumption tax levied on the value added to goods and services at each stage of production or distribution. Businesses charge VAT on their sales (output tax) and can reclaim VAT on their purchases (input tax).
- When it is due: VAT returns are usually submitted monthly or bi-monthly, depending on the turnover of the business. The due date for submission is the last business day of the month following the end of the VAT period.
Dividend Tax
- What it is: Dividend Tax is a tax imposed on shareholders when they receive dividends from a company. It is typically withheld by the company paying the dividend and remitted to the South African Revenue Service (SARS).
- When it is due: Dividend Tax must be paid to SARS by the end of the month following the month in which the dividend was paid. Companies are responsible for withholding this tax and submitting it on behalf of their shareholders.
Payroll Tax
- What it is: Payroll tax encompasses several types of taxes related to the employment of staff, including Pay-As-You-Earn (PAYE) tax, Unemployment Insurance Fund (UIF) contributions, and Skills Development Levy (SDL). PAYE is the tax an employer withholds from employees’ salaries and pays directly to the government.
- When it is due: Payroll taxes must be calculated and submitted monthly. The PAYE, UIF, and SDL are due by the 7th of the month following the month in which the employees were paid.
Additional Services
- Tax Planning: Customized tax strategies to enhance your company’s financial health.
- Penalties and Audits: Expert assistance in managing tax penalties and audits, ensuring favorable outcomes.
- Regulatory Compliance: Ensuring your business complies with all relevant tax laws and regulations, reducing risk and enhancing financial stability.
Efficient Payroll Management for Your Team’s Peace of Mind
Tax Services for Individuals
Income Tax
We provide comprehensive services to help you manage your personal income tax. Our experts handle all aspects of income tax preparation and filing, ensuring accuracy and timeliness. We work diligently to identify deductions and credits to minimise your tax liability.
Provisional Tax Returns
Our team assists with the preparation and submission of provisional tax returns, ensuring you meet your obligations without incurring penalties. We provide detailed calculations and strategic advice to manage your tax payments effectively.
Tax Planning
Effective tax planning is crucial for optimising your financial health. We offer personalised tax planning services to help you structure your finances in a tax-efficient manner. Whether you’re planning for retirement, investments, or significant life events, our expert advice will help you minimize your tax burden.
Additional Services
- Refund Disputes: Assistance with resolving disputes over tax refunds, ensuring you receive the amounts you’re entitled to.
- Tax Compliance: Ensuring full compliance with tax regulations to avoid penalties and legal issues.
- Investment Advice: Strategies for tax-efficient investments to maximize your returns.
Efficient Payroll Management for Your Team’s Peace of Mind
Why Choose Ready Accounting?
Choosing Ready Accounting means partnering with a team dedicated to your financial success. Our proactive approach, combined with deep technical knowledge and personalised service, sets us apart. We are committed to helping you navigate the complexities of the tax landscape, ensuring you achieve your financial goals with confidence.
Contact us today to learn more about how our tax consulting services can benefit you and your business.
FAQ
Dividend Tax is a tax on dividends paid to shareholders at a rate of 20%. It is typically withheld by the company and must be paid to SARS by the end of the month following the month in which the dividend was paid.
Payroll tax includes Pay-As-You-Earn (PAYE) tax, Unemployment Insurance Fund (UIF) contributions, and Skills Development Levy (SDL). These taxes are calculated and submitted monthly, with payments due by the 7th of the following month.
Ready Accounting provides comprehensive tax compliance services, ensuring all tax returns are accurately prepared and submitted on time. We help you stay compliant with all tax laws and regulations, avoiding penalties and optimizing your tax position.
