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Thread: My returns list.

  1. #1
    Site Caretaker Dave A's Avatar
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    My returns list.

    One of the comments that came up in the Moving The Forum SA Forward thread was that it would be handy to have a simple guide to navigating some of the compliance complexity.

    So to kick this off, here is my monthly returns routine which is non-industry specific. Hopefully, I'm not missing any

    7th - PAYE, SDL and UIF
    25th - VAT
    Now if the 7th (or 25th) falls on a Saturday, Sunday or public holiday, I actually need to get them in by the last ordinary working day before the 7th. Please note that a Saturday does not count as an ordinary working day. I'll give a story about that later. (See. Lot's of mistakes/experience here)

    Now let's run through the details on each to see whether you need to worry about them and the easiest way to get them done:

    PAYE - Pay As You Earn.
    Your business only needs to register if you employ someone and their salary is high enough to be taxable. In the 2007 tax year this tax threshold was R40 000.00 per year. This year, the 2008 tax year, the threshold is R43 000.00 per year (or R3 583.33 per month). So if you don't employ anyone who earns more than this, you don't need to register for PAYE.

    The easiest way to file the return (a form called the EMP201) and make payment is through SARS eFiling. You can make the return earlier than the last available day and set the payment date for the last available day - the 7th of each month or (see comment on last working day above).

    SDL - Skills Development Levy.
    You business only needs to register for SDL if your annual payroll is more than R500 000.00 per annum (or R41 666.67 per month). If your annual payroll is less than R500 000.00 per month, you do not need to register for SDL and you do not make make payments.

    You file and pay SDL on the same EMP201 along with PAYE. Again, SARS eFiling is the easiest way to do this.

    UIF - Unemployment Insurance Fund
    Your business only needs to register with UIF if you employ someone who works for you more than 24 hours a month. If you do not employ someone for more than 24 hours per month, you do not need to register for UIF.

    You can file and pay UIF on the EMP201 along with PAYE. But there is one additional step. Every month you need to submit another form, the UI19. This details the leviable salary of every employee. This is best done using UIF uFiling.

    *yawn* Time to sleep. More on this tomorrow. Once we've got all the details cooked, I'll see about setting it up in some sort of a table.
    The trouble with opportunity is it normally comes dressed up as work.

  2. #2
    just me duncan drennan's Avatar
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    Quote Originally Posted by Dave A View Post
    But there is one additional step. Every month you need to submit another form, the UI19. This details the leviable salary of every employee. This is best done using UIF uFiling.
    Now that I did not know - I thought the EMP201 was sufficient. Thanks for the heads up.
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    Site Caretaker Dave A's Avatar
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    Yeah. They don't exactly explain that too well. It was something I only discovered recently too - when an ex-staff member actually applied for benefits. I reckon UIF records must be an absolute mess.

    In the days of a UIF card, you only had to submit a UI19 when there was a change.

    Happily, the uFiling system takes the sting out of doing the return monthly. You load each staff member in the system and it remembers.

    It does have its quirks, though.
    The trouble with opportunity is it normally comes dressed up as work.

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    just me duncan drennan's Avatar
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    Quote Originally Posted by Dave A View Post
    It does have its quirks, though.
    Hmmm...yes

    I'm hoping that I can finally submit my domestic UIF declarations online now, after struggling back and forth with their support. The eFiling system seems to be a road with fewer potholes.
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    just me duncan drennan's Avatar
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    Quote Originally Posted by Dave A View Post
    7th - PAYE, SDL and UIF
    25th - VAT
    If you want to avoid ever forgetting about this again, you can put continuous reminders in your calendar. I use Google Calendar, and have set it up to send me an email to remind me about things. You can set Google calendar to send you a daily agenda, and reminders for each event on your calendar.

    I've set my PAYE/UIF reminders for the 1st because I have all the info by then, and my VAT reminders for the 8th (unfortunately Google Calendar doesn't allow bi-monthly reminders - yet). You can submit the returns with eFiling, and set the payment date for the latest possible date (see Dave's comments on this.)

    Another thing with regards to eFiling - if you make use of eFiling the final date for submission of VAT can be a bit later. If you are having a cash flow crisis this may just give you a day or two's breathing room. Both the VAT returns I filed so far have fallen into "funny" months (December and February), but I think you gain about 3 days (check this on your eFiling return, and with your accountant, to be sure - don't blame me if something goes wrong).
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    Site Caretaker Dave A's Avatar
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    VAT - Value Added Tax
    Your business has to register for VAT if the turnover is (or is likely to be) over R300 000.00 per annum. You can also do a voluntary registration for VAT if your turnover is over R20 000.00 during the past year.

    If your turnover is under R20 000.00 per annum, you may not register for VAT. If your turnover is under R300 000.00 per annum (R25 000.00 per month), you do not have to register for VAT.

    The easiest way to file the return (a form called the VAT201) and make payment is by SARS eFiling. The return must be submitted by the 25th (or on the last working day before blah blah). If you submit via the paper route, payment must also be made on return day, BUT if you use eFiling, you can set the payment date for the last normal working day of the month. This can extend your payment date up to 7 days depending on the month and how the working days fall.

    Although I've put this in the monthly returns thread, you may only have to do this every two months - it depends on the turnover of your business.

    I'll have to check, but I think there was a situation where you would submit a return every six months. (?)

    Note to self - check return frequency rules.
    The trouble with opportunity is it normally comes dressed up as work.

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    just me duncan drennan's Avatar
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    Extract from the VAT-404 guide (see pages 14-15). I really recommend you download the guide and read through it. Here is the summary for categories...

    Every two months
    • Category A is a two month period ending on the last day of January, March, May, July, September and November.
    • Category B is a two month period ending on the last day of February, April, June, August, October and December.


    Every month
    Category C
    • your turnover exceeds or is likely to exceed R 30 million in any twelve month period. Where you operate more than one business, or operate a business with branches, the sales of all the businesses or branches must be added together to determine a total turnover. This applies, whether or not the other businesses or branches have separate VAT numbers;
    • you have applied in writing for this category; or
    • you have repeatedly failed to perform any obligations as a vendor.


    Every six months
    Category D
    • This is a category solely for farmers, farming enterprises or associations not for gain that are carrying on a farming activity, with a total turnover of less than R1 million per year.


    Every twelve months
    Category E
    This category is for vendors whose tax periods are periods of twelve months ending on the last day of their "year of assessment" as defined in section 1 of the Income Tax Act or where any vendor falling within this category makes written application therefore on the last day of such other month as the Commissioner may approve. The vendor applying for registration under this category must comply with the following:
    • Where the vendor is a company or a trust fund; and
    • The vendors activities consist solely of the letting of fixed properties or the renting of movable goods, or to the administration or management of such companies which are connected persons in relation to
      the vendor; and
    • The connected person who receives the supply must be registered for VAT and must be entitled to deductions of the full amount of input tax in respect of those supplies; and
    • The vendor must agree with the recipients that tax invoices are issued only once a year at the end of the year of assessment, (as defined) of the vendor making the supplies.
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    Site Caretaker Dave A's Avatar
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    Thanks for the details, Duncan.
    Quote Originally Posted by dsd View Post
    Extract from the VAT-404 guide (see pages 14-15). I really recommend you download the guide and read through it.
    I think when we develop the final product, we need to allow for a staged progression.

    The first stage is to determine which returns apply to you
    The second is the easiest way of getting them done
    The third is to go over the details and quirks.

    Fortunately, government brochures have improved greatly, so part of that third stage would be to point to the relevant brochure.
    The trouble with opportunity is it normally comes dressed up as work.

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    Very Useful! Thanks Guys - have given to my PA to include into her standard ops manual!
    Regards

    Debbie
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    just me duncan drennan's Avatar
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    I was just having a look at CIPRO's website and reminded of the fact that all companies (not CC's, sole props, trusts, etc.) must lodge an annual return with the registrar, which must be submitted before the end of the month following the anniversary of the companies incorporation.

    I've not had to go through this before (will have to in June/July), but I have marked it on my calendar so that it doesn't slip through the cracks...
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