We will make sure you or any of your employees are registered for income tax.
We will sit with you a month before provisional tax payments are due to ensure that we do proper tax planning so that you do not pay too much tax and that we minimise the amount that you have to pay in order to protect your cash flows. We can do this for any of your staff, managers or your directors that you want us to assist.
We will submit all provisional returns and payments on time.
We will submit your final tax return on time and ensure you pay the least amount of tax legally possible. This means we need to get together a few times a year to ensure we plan your affairs properly.
Just like businesses, Individuals need to submit an annual tax return. That will include you as a business owner and / or employee as well as any of your employees (if you have any). This will often mean that you need to submit your business tax return as well as your personal tax return, they are not the same thing.
The onus is on each individual tax payer to submit their own personal tax returns.
The tax return for salaried employees is relatively simple and just needs to be submitted once a year to fulfil your tax obligations.
If you earn any other income, such as rental from a property or from a business, you will be subject to the same provisional tax requirements as any business.
These returns are required to be submitted every six months and must contain estimated figures of total revenue or income earned for that period. You then need to pay over taxes in respect of the revenue or income estimated for that period.
This means that you may have to pay tax twice a year and not just at year end, so you need to provide for this in your cash flow forecasts.