Latest News in the Accounting World

tax refund
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My Tax refund, what's the holdup?

Are you waiting on your SARS tax refund? You are not the only one! According to the TAX OMBUD ANNUAL REPORT 2017/18, a staggering 35% of the complaints received by the tax Ombudsman relate to tax refunds, this being the highest type of complaint…
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Top Tips for SARS eFiling

Tax season 2018 has arrived and has been in full swing since the 1st July 2018. In our previous article, Tax Season 2018, we outlined some need to know information about tax deadlines and when to file a tax return. Below follow some tips to…
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TAX SEASON 2018

It was announced on the 4 July 2018, that this year’s Tax Season will be shortened by 3 weeks, with the season running from the 1 July to 31 October 2018 to allow more time for verifications before the December holiday break. It is also anticipated…
Impacts of VAT increase
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The Impact of Increased VAT

As you may have been made aware and was outlined in our previous article, ‘2018 Budget Related Tax Implications’ Sunday, 1 April 2018 saw VAT increase from 14% to 15%. This was the first increase in 25 years. What is VAT? VAT stands…
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2018 Budget Related Tax Implications

On 21 February 2018, former Finance Minister Malusi Gigaba delivered the 2018 National Budget Speech, describing it as “a tough but hopeful budget”. The effect this has on the taxpayer has been analysed in depth and publicised on many forums. The…
Chartered Accountant
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What to look for in an accountant

As you start and grow your business, you will soon come to realise that the most important relationship you can build is the one with your accountant. No other resource will be able to give you an instant snapshot on the financial health of…
Chartered Accountant
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Quick steps to ease debt

A recent report issued by Sanlam revealed that a shocking seventy percent of middle-class South Africans are feeling crippling financial pressure. According to the survey, the blame can be placed on the cost of education and university, a lack…
Chartered Accountant

Accounting tips to get your business on track

If you ask any business owner why they started their own company, very few will say, “to spend hours on accounting.” However, many entrepreneurs find the financial challenges of keeping their business afloat an unnecessary distraction to…
cash flow

Top cash flow management tips

Maintaining a positive cash flow is the lifeblood of any successful business. Without a steady stream of cash coming in, debt can build up fast, you can fall behind on tax obligations and your business is at risk of becoming one of the many…
accountants
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Accountants and Accounting – the cornerstone of business success

While many businesses take pride in their product or service, this does not provide a solid foundation for business success. As any investor or bank will tell you, the proof of a business’ success lies in its numbers. However, many business…
Accounting firm in Cape Town
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Accounting Firm in Cape Town

Fenns Incorporated Accounting Firm in Cape Town is dedicated to providing the very best in accounting and financial services to our clients, specialising in providing these services to the small to medium sized enterprise. We have four offices…
Accounting Firm in Port Elizabeth Manager
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Accounting Firm in Port Elizabeth

Fenns Incorporated Accounting Firm in Port Elizabeth is dedicated to providing the very best in financial services to our clients. We have four offices across South Africa, so wherever you may be situated we will have someone nearby to assist…
Sars George

SARS George is moving

SARS George The SARS George (South African Revenue Services) office will be moving to a site behind the Garden Route Mall by mid 2016. The traffic flow patterns in George will change drastically and many of the out of town visitors will…
transfer-duty
e-filing
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How to do E-filing

SARS eFiling is a free, online process for the submission of returns and declarations and other related services, for more information visit the eFiling Services page. This free service allows taxpayers, tax practitioners and businesses to register…