Why do you need to submit annual returns to CIPC?
Private companies have to submit an annual return to CIPC on a yearly basis.
What information should be provided?
The information includes the annual turnover, who oversees the financial record keeping, and updating the contact details of the company. These figures in regard to the annual turnover is shared by CIPC to SARS, so it is very important to submit the correct figures.
What happens if a private company does not submit annual returns to CIPC?
What are the consequences of having your company deregistered?
When a company is deregistered, CIPC notifies SARS and the banks. This means that your private company’s funds can be freezed by the bank because of non compliance. Thus, you will not have access to your funds, which will negatively influence your company’s cash flow.
How we can assist to submit your annual returns at CIPC.
I have over 10 years experience in dealing with CIPC, tax and accounting matters. I have been self employed for the last 5 years. We always strive to give customers the best advise and service possible.