• accounting news (4)

At Fenns, we keep up with the latest developments in the accounting world, and now you can too. Stay informed with our monthly blog posts and newsletters, featuring insights, updates, and industry news.

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directors
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Directors: Prepare and Submit Your Company’s Beneficial Ownership Register

Directors are now obliged to implement a detailed Beneficial Ownership Register for their companies and submit the register to CIPC. Such a register must also be maintained, with beneficial ownership changes recorded timeously and the validity of the information confirmed on an annual basis.
accountants
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Ten Often-Overlooked Ways Your Accountant Can Help Your Business

From assisting with HR, to streamlining cashflow and getting involved with your business software, accountants can provide a wide range of services. We take a closer look at a number of the lesser-known abilities of accountants and reveal just how they may be able to help you more than you expect.
eskom
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How to Prepare for a Possible Electricity Blackout

While the chances are low, many economists and politicians are even advising business leaders to prepare for the worst and make sure they are prepared for potential countrywide blackouts lasting weeks. Here are our tips for preparing your business to face days without electricity.
sars
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Is Your Information Safe With SARS?

The confidentiality of taxpayers’ information has been a cornerstone of tax systems, globally and in South Africa, as it provides taxpayers with peace of mind that the sensitive financial and highly personal information, they are obliged to disclose to tax authorities will not be made public.
research and development
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Can the R&D Tax Incentive Benefit Your Business?

In this article, we unpack what the incentive aims to achieve and what it offers, how businesses can determine whether this research and development tax incentive applies to them, what the terms and conditions entail, and how to ensure your business can benefit while meeting all the requirements.
opportunity
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When to Say No to an Opportunity (or a “Barnacle”)

Knowing how to recognise a bad opportunity or when to turn down a good one is as important as any other aspect of your business. Choosing to take on an opportunity, which may not be right for your business can severely limit your future and foster unhappiness among staff, while making these calls correctly will help you to better define your brand and strengthen your business. Here’s how to recognise it’s time to say “no” to an opportunity.
ai
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How to Use AI to Improve Your Small Business

AI has been evolving at light speed and awareness of its various iterations has come on just as fast. But is Artificial Intelligence really all it’s cracked up to be and can it actually help businesses streamline operations and lower costs as promised?
trust duties

New Trustee Duties: More Admin, Impossible Deadlines and Hefty Penalties

All trustees of all trusts now have new levels of administrative duties, with some of the impossible deadlines having already passed, exposing all trustees to harsh penalties including fines of up to R10 million or imprisonment for up to 5 years, or both.
solar
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How You and Your Business Can Benefit from SARS’ Solar Tax Breaks

Two time-limited tax measures were announced in the 2023 Budget in February to encourage investment in renewable energy. The first is an expanded tax incentive for businesses that will reduce taxable income by 125% of the cost of qualifying investments in renewables, and the second is a tax rebate to individuals for 25% of the cost of solar PV panels.
engaged staff
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Affordable Ways to Reap the Benefits of Engaged Employees

The benefits of engaged employees – workers who are involved, enthusiastic and committed to their work and workplace - are well-researched and widely documented. These range from increased productivity and improved customer satisfaction to reduced costs and fewer safety incidents, all of which are vitally important for small businesses whose employees often fulfil multiple roles with wide responsibilities.
new business finances
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Setting Up Your Finances in a New Business

Most entrepreneurs start businesses because they see a gap in the market they think they can fill. The knowledge they have from their careers may have empowered them to see the gap, and to understand how to exploit it, but may leave them short of knowledge in other, critical business areas.
tax freedom day
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Happy Tax Freedom Day!

The 14th of May is a happy day that all South African taxpayers should be celebrating as in 2023, that’s the day after the country has earned enough to pay for our government. Tax Freedom Day (TFD) is a simplified way of showing how much time we all spend working for the government’s GDP rather than our benefit.
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