(018) 468 1129 | info@sitholebusiness.co.za

SERVICES WE OFFER

WE SPECIALISE IN TAX, ACCOUNTING & BUSINESS SOLUTIONS

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ACCOUNTING & BOOKKEEPING

According to Generally Accepted Accounting Practice (GAAP), the financial statements have to appropriately agree with the primary books of account. Appropriate accounting policies have to be adopted for preparation of financial statements.

Management of every Company, Close Corporation, Sole Proprietor and also government institutions are required to maintain appropriate books of account. Yet essential to every business, keeping primary books of account could exhaust management's time and attention required for other business decisions; hence Sithole Business Advisory Services is appropriately positioned to offer you the following:

The preparation of:

  • Fixed asset registers
  • Subsidiary (e.g debtors and creditors) ledgers  and General ledgers
  • General ledger reconciliations and Trial balances
  • Financial statements and Auditing
  • Issuing customer invoices and statements and Capturing of invoices
  • General secretarial services (e.g Application for tenders, costing, accounting officers, new venture creation, opportunity identification)
  • Close Corporation and Company registrations
  • Preparation of accounting officer letters for; Banks, CIPRO, SARS etc
  • Board papers and Preparation of payroll reports
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TAXATION SERVICES

Compliance with the requirements of the Income Tax & VAT Act and other taxation laws is the responsibility of each taxpayer or its public officer.

This responsibility includes complete disclosure of taxable income and the payment of all taxes and interest thereon, as well as any penalties that may be imposed for non-compliance and the submission of all returns for as long as the taxpayer remains on the register.

We provide you and your business comprehensive services that ensure compliance to relevant Income Tax laws and legislations that include:

 

  • Attending to queries from the Receiver of Revenue
  • Use of our offices for taxation correspondence with the Receiver of Revenue (SARS)
  • Obtaining extensions of time for submission of tax returns or for payment of taxes 
  • Taxation advisory services (maximising the tax savings)
  • Preparation of VAT, IRP6, IT 14 and IT 12 returns and submission
  • Employee's tax and related returns 
  • Registration as taxpayers, employers or VAT vendors
  • Income tax returns completions and submissions
  • Income tax calculations for Companies, Close Corporation and Individuals

VAT REVIEW SERVICES

VAT review/audit is a specialised service offering in South Africa which provides, among others, the following:

  • Savings reviews (Identification of savings and recovering of such savings from SARS - generally on a contingency basis)
  • Assurance Review (Mini Audits)
  • Compliance (Returns and Registrations)
  • Structured Training (Tailor-made workshops/ seminars)

Periodic VAT audit is not a luxury but a real necessity which many organisations do not realise until they are confronted with additional tax claims that are brought forward by the tax authorities and sometimes they do not realise some tax overpayment made erroneously to the tax authorities which could be claimed back.

The VAT audit services we offer investigate assessments made over the past five years and recover any overpayment erroneously made during this period.

The following is also to be included:

  • Review the VAT implications of all the transactions undertaken for the review period being the last 5 financial years and where transactions were done incorrectly or without correct documents we provide assistance to correct accounting record and engage in appropriate corrective action including all submission to SARS and dealing queries from SARS.
  • Review of all VAT returns with view to identify CAT savings ensuring compliance with the VAT Act.
  • Reconciliation of VAT control accounts and addressing of audit queries raised by Auditors, enhancing skills transfer in the process.

We offer our expertise and knowledge of the South African indirect tax legislation and its application to all kinds of organisations with a view to identify potential areas within your business processes where indirect tax savings can be achieved.

Our objective is to identify savings opportunities that could take the form of increased VAT (input tax) deductions, decreased VAT (output tax) payments or obtaining refunds of interest and penalties previously paid or due to the South African Revenue Service (SARS).

Our fee will be calculated on a contingency basis as percentage (excluding VAT) of the gross amount of any "savings" identified and received. If we fail to identify any savings, there will be no fee payable. All disbursements will be for our own account.

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BUSINESS SOLUTIONS SERVICES

The relevance of these services is as a result of management's business needs to conduct businesses effectively and efficiently, both financially and operationally.

We provide the following services to the extent and at the level of expertise required:

 

  • Profit improvement and cost reduction exercises
  • Cash management
  • Financial planning
  • Purchase and sale of business
  • Budgeting and cash flow forecasting
  • Strategic planning and product costing
  • Break-even analysis
  • Tax saving and planning
  • Business coaching
  • Event planning
  • Project costing and management

TRACING SERVICES

Sithole Business Advisory Services offers the following tracing services at varying, affordable rates:

  • Standard Trace
    Residential and business address plus contact number(s).
  • Home Address Trace
    Residential address plus contact number(s): Client requests only home address to be traced or only the home address that could be traced.
  • Work Address Trace
    Physical employment address plus contact number(s): Client requests only work address to be traced, or only the work address that could be traced.
  • Full Work Address Trace
    Physical employment address plus contact number(s) plus head/salary office address.
  • Contact Number Trace
    One or more contact numbers.
  • Consumer Profile
    Printout with credit stats, consumer details, judgements, payment profiles, enquiry and employment history etc.
  • Property Checks
    Information about property owned by a person/company/trust (limited to 4 properties at a time).
  • Death Certificate
    Copy of a person's death certificate.
  • ID Number Trace
    Correct ID even if teh debtor could not be traced.
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