Fspbusiness.co.za » books-of-account

Did you know...

You can complete your IT14SD form in 6 steps
>> FIND OUT MORE HERE<<

You don't HAVE to allow your employees smoke breaks?
>> FIND OUT MORE HERE<<

Strikes can cripple your business
>>Find out how you can prevent them<<

Books Of Account

Is it necessary to keep company records?
The Tax Administration Act (TAA) requires you to keep your company records. This is just one of the reasons why you must keep your records. Here are two more reasons...... ››› more
[09 December 2013]

What to do if SARS wants to audit your company records
SARS is empowered to come to your premises to conduct a field audit or criminal investigation. This means they can request to audit your company records. Here's what the law says you must do when the taxman requests an audit on your records at your premises.... ››› more
[06 December 2013]

Do you know what's included in Books of Account?
We had such great feedback from our last question and answer bulletin on travel expenses (https://fspbusiness.co.za/articles/accounting/the-correct-way-to-allocate-travel-expenses-when-you-charge-clients-3269.html#.UqBX9Sd_BLc) that we decided to send you another interesting question and answer. Our reader Meisie asked, what are 'Books of Account'? Let's look at the full question, and see what a fellow Accounting and Tax Club (http://www.accountingandtaxclub.fspbusiness.co.za/) member says.... ››› more
[06 December 2013]

Why Prince Charles is happy the taxman isn't looking at his bank account...
If the UK's Parliament's Public Accounts Committee has its way, Prince Charles may see his multimillion pound income under the tax microscope. He earns a vast income from the Duchy of Cornwall estate, which he uses to pay for his private and public activities. But the estate pays no corporation tax and no CGT either. And lawmakers in Britain think it should. Locally, SARS has made it clear it already targets the high-rollers, the tax evaders and the big fish who have the means to evade taxes they should be paying.... ››› more
[07 November 2013]

SARS goes after Agliotti for tax evasion - make sure it doesn't come after you!
SARS is at it again. This time, it's after overseas bank accounts that belong to convicted drug dealer Glenn Agliotti. The taxman believes Agliotti has funds in European bank accounts in Geneva and Guernsey. It believes he's trying to put the money beyond the reach of South African creditors, EyeWitnessNews reports. While you await the outcome of this legal showdown, in the meantime, make sure you're aware of which six tax evasion offences could get you five years in jail so you can avoid them.... ››› more
[13 August 2013]

Six tax offences that could get you five years in jail
SARS is taking a very hard-line approach to dealing with non-compliant and lax taxpayers and have made this decidedly clear in the Tax Administration Act (TAA). In fact, you could pay a 200% penalty or go to jail for not registering to pay income tax or hiding your income from SARS. These are just two examples of tax evasion. Do you know the rest? Read on to discover offences SARS deems as tax evasion that could get you five years in jail.... ››› more
[24 June 2013]

The secret to avoiding a 'tax evasion' label from SARS...
It's not just the small companies that let things slide financially and 'forget' to submit their tax returns to SARS on time... or to submit them at all. Finance Minister Pravin Gordhan said yesterday that a number of top firms are side-stepping tax too, by shifting their profit centres to parts of the world where they can avoid paying tax. Here's what to do if SARS suspects your business of tax evasion.... ››› more
[15 May 2013]

What can SARS do when if the suspect your company of tax evasion?
India's tax authorities are considering slapping criminal charges against Cadbury's Indian division for allegedly furnishing false documents and pretending to make chocolates in a non-existent factory to avoid paying excise duty, reports FSP Business. It's been dubbed 'blatant tax evasion' by tax authorities and could lead to massive fines for the group if proven guilty. While your company may not knowingly be involved in tax evasion practices, if SARS suspects there's something fishy with your books it could do a surprise raid on your business to check. Here's what to expect if this happens...... ››› more
[07 March 2013]

Avoid making common accounting mistakes
Like most things, accounting is easy when you know how. The trick is to get your accounting system working correctly from the outset, because systematic accounting mistakes that run undetected for months, or even years, can cause your business to lose money in fines. Helen Cousins ofHelen Cousins of Xcel Business Solutionsshares some commonaccounting mistakes on Tweakyourbiz.com, particularly regarding legal requirements. Read on to find out how to save your business from making costly errors!... ››› more
[18 January 2013]



There are 47 ways to get more money back from SARS >> FIND OUT MORE HERE<<
Save your business from penalties by being an instant audit expert! >> FIND OUT MORE HERE <<
Make a dismissal stick, even if it goes to the CCMA >> FIND OUT HOW<<
Get the only DoL recognised way to train your HSE representative >> FIND OUT HOW <<
You have to dismiss an employee, but do you know how? >> FIND OUT HOW HERE <<
3 Instances where you don't have to pay Capital Gains Tax... >> FIND OUT MORE HERE<<
Exclusive report: Calling all HR managers - this is a must read! >>Read more<<
Improve your cash flow and eliminate simple accounting mistakes >> FIND OUT MORE HERE<<
The HR resource that’s making over 13 240 managers' lives MUCH easier! >> Read more <<
Employers - You must display a summary of the BCEA and EEA Get your summaries here
Find out how to recruit staff effectively >> CLICK HERE <<
Cut your health and safety training bill by 80% >> FIND OUT HOW <<

Top Articles Considering retrenchment to save your business? Make sure you pay the correct severance remuneration Free report: IRP5 Codes Can you make an employee pay back his bonus if he resigns? Four maternity leave errors that could land you at the CCMA Free Report: Risk Assessment

News

ATTENTION EMPLOYERS: Even part-time staff must have a contract >> CLICK HERE FOR MORE DETAIL <<
40 Tools to Manage your Business Tax Risk >> CLICK HERE <<
MANDATORY NOTICE FOR ALL EMPLOYERS: no matter how many people you employ 1 or 100 Read more now
Giant health and safety mistakes that 2 out of 3 companies make every year >> FIND OUT MORE HERE <<
Save R24 469 by keeping an accurate logbook today >> CLICK HERE <<
Attention Employers! From the Department of Labour: Not displaying summaries of the EE Act and BCEA in the workplace is punishable by law Read more here


Media

Useful Links SAICA SAIPA Labour and HR Club Department of Health COID CHA Group Agora Publishing UK

Disclaimer
Copyright 2013, Fleet Street Publications (Pty) Ltd. The information contained herein is obtained from sources believed to be reliable, but its accuracy cannot be guaranteed. No action or inaction should be taken based solely on the contents of this publication. We do research all our recommendations and articles thoroughly, but we disclaim all liability for any inaccuracies or omissions found in this publication. No part of this publication may be reproduced or transmitted in any form or by means of electronic or mechanical, including recording , photocopying, or via a computerised or electric storage or retrieval system without permission granted in writing from the publishers.