SARS has recently changed the way in which newly registered companies are registered on eFiling. Once you have done a company registration, CIPC automatically notifies SARS, who then issues the company with an income tax number.
Appointing a public officer after a company registration
Before a company can be registered on eFiling, one of the directors has to be appointed as the public officer at SARS. This means that they will verify the contact details, and link the business tax profile to the personal tax profile of the public officer.
After this process is done, the company can register on eFiling using a one time pin(OTP) which is sent to the public officer. Returns can then be submitted and a tax clearance obtained.
Everyone always talks about annual returns from CIPC, but not many business owners know what it entails.
Who needs to submit?
All private companies, close corporations, personal liability companies and non profit companies. The annual return has to be submitted in the anniversary month of the company. If the company was registered in May, the annual return will also be due in may.
The main details required by CIPC are the annual turnover of the company. The details must also be completed for the person/s responsible for keeping the financial records of the company.
Our fee for any company amendments is only R250. These amendments include:
Change of director
change of address/ contact details
change of year end
These changes are done electronically via the CIPC portal, and needs to be signed by the directors of the private company.
We can also assist with submitting annual returns for your private company or closed corporations. The cost is R100 per year plus the CIPC charges. Not submitting these returns can lead to penalties, and the deregistration of the company. It is therefore very important to always ensure that the annual returns of the private company is up to date.