SARS EMP501, IRP5 and E@syfile submissions, calculations and reconciliations can be a daunting and costly task to perform.
As an Employer, you are either paying the auditors exuberant amounts to get your EMP501 and IRP5’s submitted or these costs are added to your monthly bill. If you are tackling this task on your own, you or your Payroll Administrator sits Bi-Annually for hours if not days struggling with the SARS submissions of the EMP501.
That, in itself is a mammoth task which not only depends on the complexities of your Payroll, but also on the knowledge and expertise of the person performing the task.
SARS is ever changing or updating their internal systems and software to which all companies needs to also get compliant with. If not compliant or if the documents are not in the correct format, you will either be unable to submit at all or the submission will be rejected.
In all cases with SARS where incorrect or late submission arise, penalties and interest is automatically charged to YOUR company. To rectify these issues are lengthy and most of the time very costly.
This also affects your company and it’s tax compliance status which ultimately hinders you from obtaining a letter of Good Standing or the vital Tax Clearance Certificate that is crucial for most companies dealing with suppliers or government institutions that require these documents on a regular basis.
We can get it done professionally and cost effectively!
Contact us today.