• PAYE,  SARS

    PAYE recon – 202202

    The deadline to submit your PAYE recon, aslso known as the EMP501 is 31 May 2022. What is a PAYE recon? This is the process where the amount of PAYE deducted monthly and paid over to SARS is reconciled. This is to ensure that all the amounts deducted from employees is paid over to SARS. During this process, when the EMP501 is submitted, IRP5 certificates have to be issued for every employee. These certificates then have to be issued to every employee. What information does the IRP5 certificate need to contain? The certificate needs to contain all income the employee has received. This includes the salary, all other benefits and…

  • PAYE

    PAYE recons 2021

    Employers have to submit their annual PAYE recons, also known as the EMP501 before 31 May 2021. This applies to all employers who This is applicable to all employers who are registered for PAYE and deduct employee tax from their employees on a monthly basis. After the recon is submitted, IRP5 certificates will be generated for all employees. These certificates have to be handed over to the employees in order for them to submit their annual income tax return to SARS. Failure to submit the PAYE recon will result in a penalty of 1% of the annual PAYE liability of the company. Contact us for more detail.

  • PAYE

    PAYE recons explained.

    Monthly PAYE returns The monthly PAYE return is called a EMP201. The following amounts are to completed on this return, namely PAYE, SDL and UIF. The amounts are the amounts that are deducted from employees’ salaries. The SARS PAYE tables can be seen here. A 10% penalty is raised by SARS for the late submission of this recon. SDL SDL, or skills development levy is payable when the company’s total payroll exceeds R500 000 per annum. The amount to be contributed is 1% of the employees salary. This amount is contributed by the employer and not deducted from the salary. UIF UIF is dedcuted at 1% from the employees salary.…