[Question] Changing from Trust to CC

[StephanieB]

Hi Everyone

We have changed our business from a Trust to a CC. We are registered for PAYE, UIF etc. I am not sure if we just carry on with the PAYE number when paying our PAYE or do we have to register all over again?

Hope you will be abe to advise me on this one.

Thanks you so much
Stephanie

[Christel]

Hello StephanieB,
A CC is a new entity, therefore you would have to de-register the Trust tax types and re-register all tax types in the name of the CC.

Remember to also do this for UIF at DoL. You would complete a UI-19 in the name of the Trust, and terminate all employees, and then another UI-19 for the CC and take on all employees. I normally do this in one go, i.e. Email the completed registration for the CC, the new UI-19, the UI-19 for the Trust all together with a letter explaining what is happening.... so that they can understand. I have a contact at PE DoL who deals with new registrations if you want to email me - I can give you the info.

[StephanieB]

Hi Christel
Thank you ever so much for your help. The de-registration and re-registration most probably has to be done at the SARS office self?? So the change came into effect on the 1st of November, so will that mean that I will be paying a lot interest and a penalty etc because I havent done the change yet? Can I pay it on the current PAYE number for the Trust so long and ask it to be corrected thereafter to the new number of the CC. Will really appreciate the contact for the UI-19.
thanks for your trouble
Stephanie

[Christel]

Hi StephanieB,
Yes, continue paying on the Trust until the CC has been registered and then request SARS to transfer all over.

[StephanieB]

Christel, thank you for all your trouble. I feel much better now. Everything of the best.
Stephanie