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Things to consider when starting a business
It is very easy to register a private company and to start trading. But there are a lot of administrative tasks that needs to be done. And these tasks are usually overlooked by new business owners. This article will give you an overview of what needs to be considered to avoid future surprises and to ensure your business is a success. VAT All private companies have to register for VAT at SARS when the turnover exceeds R1m for a consecutive 12 months. This is usually when companies start to struggle with their cash flows, because they then have to deduct 15% from all goods sold or services delivered. And unfortunately,…
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Let us help you take the red tape out of admin
Why is it important to get your admin up date. It’s not only important to have your private company registered. It is veryimportant to have one of the directors appointed as the public officer of the private company. Without an appointed public officer, the private company can’t get access to eFiling. People often make the mistake to not get a public officer appointed. Then when they want to apply for a contract or tender, it makes it difficult to apply for a tax clearance. The official turnaround time to have this done, is 21 business days, depending on their workload. Other things to consider. Other things to consider is also…
