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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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2024 best year yet for your business
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2024: Best Year Yet for Your Business?

South African businesses have survived some incredibly trying and uncertain years, marked by lockdowns and blackouts, rising interest rates and tight economic conditions. While businesses have little control over these external challenges, what is under every business owner’s control is how the company approaches 2024. You can exercise this control in three simple steps: Assessing the past, measuring the present, and planning for the future – approaching the year ahead with clarity and a solid plan to make 2024 your company’s best year yet.
how to survive ongoing high interest rates in 2024
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How to Survive Ongoing High Interest Rates in 2024

The South African Reserve Bank recently held interest rates for the third time in a row, keeping the repo rate at 8.25%, with the prime lending rate at 11.75%. The rates therefore remain high and show no signs of coming down. High interest rates can affect almost every aspect of your business, from sales to expenses. Here are some tips to help you survive.
how to achieve tax compliance throughout 2024
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How to Achieve Tax Compliance Throughout 2024

Tax compliance is accepted as an indicator of how well the affairs of a business or individual are managed and their good standing in terms of their legal obligations. It also saves a great deal of time and money. Achieving and maintaining tax compliance in 2024 will be more challenging than ever before, as SARS continues to step up both its compliance requirements and the prosecution of non-compliant taxpayers. This makes it essential to rely on the expertise of your accountant, which is also recommended by SARS.
Why January is the Perfect Time to Start a Business
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Why January is the Perfect Time to Start a Business

Thanks to New Year's resolutions, January has always been a popular time to start a new business, but resolutions aren’t the only reason it's a favoured time of the year for new endeavours. January offers a wealth of benefits that make it ideal as a founding month.
corporate gifting how to boost your business this festive season
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Corporate Gifting: How to Boost Your Business This Festive Season

There is no more appropriate time than the Festive Season to show appreciation to clients, suppliers and business partners, to build better business relationships and to differentiate your company from the competition. Well-chosen corporate gifts are a great way to do so, and with these excellent corporate gifting tips, you will be able to create the right impression about your company, while also ensuring that your business associates feel valued.
festive season gifts for employees here’s how sars will tax them
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Festive Season Gifts for Employees? Here’s How SARS Will Tax Them

Giving your employees gifts this Festive Season? Then be sure to check with your accountant first! This is because any kind of gift that an employee receives from an employer will be taxable in the hands of the employee, and in some cases, could have a detrimental impact on an employee’s overall tax liability. Find out here how SARS will tax the most common gifts to employees, and how to ensure your employees get the maximum benefit from any gift they receive from your company this year.
Business Plan
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How to Write a One-Page Business Plan

With the final days of 2023 ticking away, there is still time to do something that’s becoming all the rage among successful entrepreneurs – develop a one-page business plan. Like the elevator pitch before it, the idea of the one-page business plan is to distil the essence of your business down to its most important elements. A one-page business plan makes it significantly easier to keep track of your key purpose, targets, milestones and KPIs, while also allowing relevant personnel to easily distil the important messages and goals. Here’s how to make one.
9 tips for catching cv liars
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9 Tips for Catching CV Liars

We live in desperate times. South Africa’s official unemployment rate is 33%, and the unofficial one is thought to be much higher. In a climate like this more and more people find themselves desperately seeking work and the number lying on their CVs is rising every year. But lies on a CV are not the harmless fibs that applicants may think they are. Hiring someone into a position they are unqualified for can be extremely damaging to any business. Here then are 9 tips for detecting lies on your applicants’ CVs.
dispute rules
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Dispute with SARS? Here are the New Rules…

At some point over the many years of submitting returns and paying taxes, individual and corporate taxpayers will have grounds to dispute an assessment or decision from SARS. Fortunately, there are clear dispute resolution rules that guide both the taxpayer and SARS in resolving these disputes. Earlier this year, some changes were made to SARS’ dispute resolution rules, and in this article we briefly summarise the most important changes and provide reminders of crucial issues that remain unchanged.
hidden costs
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The Hidden Costs of Starting a Business

You have had your bright idea, saved up for months, and finally quit your 9-to-5 to run your own business. You have worked out the finances carefully but it’s still possible you have missed something. Starting a business can be surprisingly expensive, and much of this is down to a variety of hidden expenses. Failure to plan for these unknown costs can put a severe dent in the growth trajectory of your company. Here are the nine most common costs that entrepreneurs don’t plan for.
admin penalties
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SARS Admin Penalties: What Taxpayers Can Do

SARS has imposed administrative non-compliance penalties on hundreds of thousands of taxpayers this year, following recent changes to the admin penalty rules. Once-off and especially recurring penalties quickly add up to a significant tax debt, and also lead to a non-compliant tax status and tax refunds being withheld. Here's what to do if you already have accumulated an admin penalty tax debt and how to avoid these admin penalties going forward.
employee benefits
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Employee Incentives That Really Work for Small Businesses

Happy and industrious employees are a huge step toward business success. In a small business, each and every employee needs to be performing to their best ability if the company hopes to succeed. Employee incentives are therefore a great tool for both keeping employees happy and building a successful business. The challenge, however, is that the incentives a small company can offer would not traditionally be as large as those offered by big corporations. So how can small businesses successfully keep their employees feeling appreciated within budget? Here are 5 ideas that really work.
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