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ACCOUNTING SERVICES
We offer a wide range of accounting solutions designed to support businesses of all sizes. Our accounting services include:
COMPANY TAX RETURN & SARS COMPLIANCE
We often get enquiries from SMME’s who have not correctly submitted company tax returns with SARS or have omitted such returns completely. These returns include provisional tax returns not submitted or paid. In most cases, large penalties and interest have been levied against them by SARS.
Our team are able to:
- Transfer the company E-filing profile to our profile in order to view your standing with SARS
- Compile Annual Financial Statements for the company and sign these off, in order to submit to SARS as supporting documents for your Income Tax returns and to meet the requirements of the Companies Act No 71 of 2008
- Submit objections and handle SARS verifications on your behalf
- Submit an application for the remission of penalties and/or interest once correction has taken place
VAT REGISTRATION
company) has a gross income of R1 million and over a 12 month period then you are required by law to register for VAT. Voluntary registration can be done if you have a turnover of more than R50 000. We can assist in registering your company for VAT and do the SARS interview for registration on your behalf.
The following process is followed when doing so:
- Send an email to a client with an outlay of the requirements
- Once all documents are obtained, we submit at SARS for the registration
- A SARS official records all documents after review and provides VAT number
- Register client on E-filing for submission purposes
VAT RETURNS – OUTPUT & INPUT VAT
Our service includes the monthly, bimonthly, annually, and biannually submission of your VAT. Please note that if you have not done any VAT submissions, we can help with outstanding returns (our longest backdate was over a period of 15 years). Input VAT is claimable for 5 years since date of invoice.
The following process is followed when doing so:
- Office rent, travel costs, cost of sales and municipality bills
- All expenses for which the company has a qualifying invoice that was spent on expenses in order to generate income
APPLYING FOR REMISSION OF VAT PENALTIES AND/OR INTEREST
Our accounting division is backed by a dedicated tax team, including admitted tax attorneys, tax practitioners and tax professionals with specialist knowledge on VAT and who have extensive experience in negotiating with SARS. If SARS has levied penalties and/or interest against your VAT liability, our team can negotiate with SARS towaive penalties if you have a valid reason for not submitting returns or paying VAT.
We also ensure that ongoing VAT submissions and annual financial statements to SARS will be kept up to date to ensure compliance with SARS going forward.
NON–EXECUTIVE DIRECTORS VAT REGISTRATION, SUBMISSION & INVOICING
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FINANCIAL STATEMENTS
We assist with the preparation, review, and compilation of Annual Financial Statements (“AFS”). AFS are prepared and presented in accordance with International Financial Reporting Standards for Small and Medium-sized Entities (IFRS for SMME’s) and the requirements of the Companies Act of South Africa. Our Accountants are registered with SAIBA and SAIT or SAICA and are qualified to sign off on Annual Financial Statements.
Taxation
Our aim is to legally minimize the clients tax burden. Proper planning of taxes is done on an ongoing basis to keep the tax bill to the minimum.
The following process is followed when doing so:
- Income Tax - Company, individual, trusts and NOs
- VAT
- Capital Gains Tax (CGT)
- Dividends withholding tax
- Donations
- Non- Executive Directors - VAT registration and bimonthly submission to SARS
- Payroll taxes
- Provisional taxes
Expert Accounting Solutions for Your Business
At Bonganathi Group Accountants, we provide a full range of accounting, tax, and advisory services tailored to your business needs. Whether it’s tax compliance, financial statements, or payroll, our expert team is here to help you stay on track and grow with confidence.