Register – VAT, PAYE & UIF, SDL

R1,650.00R2,300.00

Let Bean Accounting take care of your statutory registrations with:

  1. VAT – Value Added Tax Registration
  2. PAYE – PAYE Registration with Automatic UIF Registration – Unemployment Insurance Fund
  3. SDL – Skills Development Levy Registration
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Description

WHEN TO REGISTER FOR VAT / PAYE / UIF OR SDL

VAT

VAT is an indirect tax and is levied at a rate of 15% (14% up until April 2018) on goods and services supplied by a Company as well as on goods and services which a Company supplies.  A company is legally required to register for VAT when it’s the sum of its taxable income (Standard Rated + Zero Rated Supplies) earned over a consecutive period of 12 months exceeds R1 million rand or is likely to exceed R1 million rand in a consecutive 12 month period.   A company will need to register for VAT within 21 days after having reached the R1 million income / turnover point.

A company may also choose to voluntarily register for VAT with SARS where its income earned over a consecutive period of 12 months exceeded R 50 000.00

PAYE [Pay As You Earn] & UIF [Unemployment Insurance Fund]

In order to register with UIF (the Unemployment Insurance Fund) and PAYE (pay as you earn) you need to have at least 1 employee.

An employer is required to register with SARS for PAYE within 21 business days after becoming employing 1 or more employees unless none of the employees hired are liable for normal tax.

Registering for PAYE automatically registers and employer for UIF.

SDL (Skills Development Levy)

A Company does not need to register for SDL (Skills Development Levy) where the total salaries for a consecutive period of 12 months is less than R500 000.00. All employers whose salary payments for the 12 month period are over R500 000.00 must register as well as those employees who expect their salary payments for a consecutive period of 12 months to be above R500 000.00 must register for SDL with SARS.

PAYE & UIF / SDL

REQUIREMENTS TO REGISTER FOR PAYE / UIF / SDL:

The following will be needed to be emailed to process your registration with PAYE / UIF and SDL:

  1. Company / CIPRO Documentation – we can assist with the registration of your Company;
  2. Certified copies of identify documents of all members / directors
  3. Proof of Address of one Member or Director that is responsible for representing the Business
  4. Proof of the Company / CC’s address
  5. The Income Tax number of the Company.

REGISTRATION TIMES

All registration times are calculated from the date upon which all required documentation is received. for the following tax types:

  1. VAT – Value Added Tax Registration
  2. PAYE – PAYE Registration & Automatic UIF – Unemployment Insurance Fund Registration
  3. SDL – Skills Development Levy Registration

TIME

Approximately 21 Business Days from receipt of all the requested documentation and provided no additional documentation is requested by SARS.

DELIVERY OF DOCUMENTATION

All final and original documentation is issued by SARS in electronic format.  Following completion, all final and original documents are emailed to the client.

VAT

REQUIREMENTS TO REGISTER FOR VAT (VOLUNTARY OR MANDATORY):

  1. Company Documentation – Certified CIPRO Documents (we can register a company on your behalf);
  2. An original signed and stamped letter received from the bank confirming and showing the businesses banking details no older than 3 months – internet printouts are not accepted;
  3. A Letter from your Bank confirming account details
  4. An original municipal account statement, recent Telkom / Cell phone account – not older than 1 calendar month;
  5. Proof of Address in South Africa such as a certified rental document in the name of the Company. For leased properties, please provide us with a certified copy of the lease agreement.  
  6. Compulsory Registration: Invoices that prove your income exceeds and amount of R 50 000.00
    1. The invoices must include: Your company name, company registration number and trading address as well as the name, address and registration number of the company you supplied; 
  7. Voluntary Registration: Invoices that exceed R 4 300.00 per month for a period of two consecutive months
    1. The invoices must include: Your company name, company registration number and trading address as well as the name, address and registration number of the company you supplied;                                     

All documents where possible or specified must be original or certified and couriered or dropped off at our JHB offices.  Once all documentation is received, we will proceed with the registration.

Documents

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