Tax Services

 

Small Business Tax Services

Olivia Sambo, MD of Profits and Books Bookkeeping

Call or WhatsApp: 064 049 0308
Email: profitsandbooks@gmail.com

Welcome to Tax Filing Season 2024 in South Africa!

Are you feeling overwhelmed by the complexities of tax filing for your business? Look no further because we're here to provide you with the expert help you need for your business tax returns for 2024. With our comprehensive tax services, we aim to make the process of filing your SARS taxes smooth, stress-free, and efficient.

At Profits And Books Bookkeeping Services, We pride ourselves on delivering personalised solutions to meet your unique tax needs. If you are a business owner, we have the expertise to handle your SARS tax filing with precision and accuracy. We will work closely with you to ensure that all your tax obligations are met while maximising your eligible deductions and credits.

With the ever-increasing complexity of the tax system in South Africa, it's crucial to hire professionals who can guide you through the process. We will help you navigate the intricate maze of efiling registration, small business efiling, tax returns submission, forms, calculations, and deadlines, so you can focus on what you do best - running your business or enjoying your personal life. We'll take the burden off your shoulders and provide you with peace of mind, knowing that your taxes are in capable hands.

Not only will we ensure that your tax return is accurately prepared and filed on time, but we'll also identify potential areas for tax savings. We will review your financial situation, analyse your expenses, and identify legitimate deductions and credits that can help minimise your tax liability. By optimising your tax position, we aim to maximise your refund or reduce any potential tax owed.

Customer satisfaction is our top priority at Profits & Books Accounting and Bookkeeping Services, and we strive to deliver a seamless experience from start to finish. We understand that every taxpayer has unique circumstances, and we tailor our services accordingly.

So, why go through the hassle and stress of tackling your taxes alone? Let us handle your tax filing for Tax Season 2024 in South Africa. Trust us to provide you with accurate, timely, and reliable tax services, so you can focus on what matters most to you. Contact us today to schedule a consultation and take the first step toward a hassle-free tax season!

Here's a step-by-step guide on how to submit a tax return for businesses in South Africa using eFiling

Olivia Sambo, Accounting consultant

Here's a step-by-step guide on how to submit a tax return for businesses in South Africa using eFiling, which is the online platform provided by the South African Revenue Service (SARS).

Step 1: Register for eFiling

If you haven't done so already, you'll need to register for an eFiling profile on the SARS website. Visit the SARS eFiling website and click on the "Register" button. Follow the prompts to provide your business and personal information, including your tax reference number, contact details, and banking information.

Step 2: Gather the required information

Before you begin the tax return submission process, make sure you have all the necessary information readily available. This may include:

- Financial statements: Prepare your financial statements, such as income statements, balance sheets, and cash flow statements, for the tax year you're filing.

- IRP5/IT3(a) certificates: These are your employee tax certificates, provided by your employees, if applicable.

- Any other supporting documents: Depending on your business activities, you may need additional documents, such as proof of expenses, receipts, or invoices.

Step 3: Log in to your eFiling profile

Once you have registered and received your login details, go to the SARS eFiling website and enter your username and password to access your eFiling profile.

Step 4: Start a new tax return

On your eFiling dashboard, you should see an option to start a new tax return. Click on the relevant tax year for which you're submitting the return, usually displayed as a button or link.

Step 5: Complete the tax return form

You will be presented with a tax return form that needs to be completed. Provide accurate and up-to-date information in each section, including your business details, financial information, and any other required fields. Take your time to ensure the information is accurate and complete.

Step 6: Upload supporting documents

Depending on the nature of your business and the tax return you're submitting, you may need to upload supporting documents. Use the designated sections or buttons on the tax return form to upload the relevant files. Make sure the files are in the acceptable formats as specified by SARS.

Step 7: Validate and review the return

Before submitting the tax return, thoroughly review all the information you have entered. Ensure that all the calculations are accurate, and the supporting documents are attached where required. Use the validation tools provided on the eFiling platform to check for any errors or inconsistencies.

Step 8: Submit the tax return

Once you are confident that all the information is correct, submit the tax return electronically through the eFiling platform. Look for the "Submit" button or a similar option on the tax return form.

Step 9: Receive acknowledgment and payment details

After successfully submitting the tax return, you will receive an acknowledgment from SARS confirming receipt of your submission. This acknowledgment will also provide details on how and when to make any payment due, if applicable.

Step 10: Make payment (if required)

If your tax return indicates that you owe taxes, follow the instructions provided in the acknowledgment to make the payment. SARS offers various payment methods, including electronic funds transfer (EFT), debit orders, or over-the-counter payments at designated banks.

That's it! By following these steps, you should be able to submit your tax return for your business in South Africa using eFiling. Remember to keep copies of all the submitted documents and acknowledgments for your records.