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Is Your Trust Registered and Ready for Income Tax?

In this article, we look at why trusts are used by business owners, how trusts are taxed, how the tax return for a trust must be completed and submitted, and why assistance from an accounting and tax practitioner is essential to avoid the many potential pitfalls, as well as the penalties and interest that will be levied for late returns, late payments, and non-compliance.
reports wp
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Five Financial Reports for Informed Decision-Making

Informed business decision-making - from effective daily financial management to strategic future planning - requires specific, timely information that allows business owners to understand where the business stands financially at a certain time, what is happening over a period, and where action is required to improve financial performance.
tax laws (1)
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Companies: How Will the Reduced Tax Rate and Assessed Loss Rules Affect You?

New rules have been established around the treatment of corporate assessed losses, and these are already in effect, limiting the amount of previous assessed losses that can be offset against a company’s annual income tax liability in future financial years. The change follows the reduction in the corporate tax rate from 28% to 27%
financial accounting
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A Guide to Accessing Funds That Can Help Your Small Business

There are various schemes available to assist SMEs with grants, business loans and “soft loans” and development programs. These schemes are primarily to support SMEs finance operating costs and expansion projects – however they mostly have an undertone of creating and protecting employment – together with training and skills development.
accounting strategies small businesses

Accounting strategies for small business success

Getting to grips with basic good accounting ‘manners’ for your small business from the outset can be the difference between a stable or flourishing business, and a floundering mess.
fenns inc outsourcing accounts department(1)

5 Reasons to Outsource Your Accounts Department

Whether you’re a small business or large corporation, you need efficient accounting services to remain compliant with tax laws, correct bookkeeping, and other regulations. The big question is, how do you get the best quality service while at the same time keep costs down? Outsourcing your accounts department to professionals can provide significant benefits for your company.
Tax savings
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Tax Savings for Small Businesses

Tax savings - For several years now SARS has afforded small business tax relief if you qualify under certain criteria, therefore there are substantial tax savings for small businesses that fall under the following criteria: Turnover for…
Chartered Accountant

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…