You’ve started up a new business and hired your first employees, or your one-person band has grown to a stage where you need some extra hands to help you. Suddenly, you’ve got a lot more admin to do if you’re to remain compliant with various tax and labour laws and regulations.
Getting it wrong - failing to register with all the authorities or missing their return deadlines for submissions - can cost your business a fortune in penalties, fines and interest payments.
Meeting these requirements may look daunting if you have never run a payroll before. However, the process can be quite straightforward, provided you’re well-informed about how it works and have the right tools in place to streamline the paperwork. Let’s look at the requirements in more detail.
Register for PAYE
As soon as you bring employees on board, you must register yourself as an employer with the South African Revenue Service (SARS) and deduct taxes from employees every month. You must register with SARS by completing the EMP101 form within 14 days of becoming an employer.
You must deduct tax from employees’ wages or salaries as well as their bonuses, commissions, additional earnings and benefits according to the annual SARS tax tables. You must pay over the PAYE deducted to SARS by the seventh of each month accompanied by a completed EMP201 return.
SDL
The Skills Development Levy is a one per cent levy that government imposes on the total company payroll to encourage learning and development in South Africa. You must register for SDL with SARS by completing the EMP101 form within 14 days after becoming an employer.
If the estimated total remuneration subject to SDL (levy-able amount) that you pay to all employees over the next 12 month period won’t exceed R500, 000, you will be exempt from SDL and won’t need to register. The levy payment is due every month by the seventh as part of your EMP201 payment to SARS.
Unemployment Insurance Fund
The Unemployment Insurance Fund (UIF) provides short-term payments to cover workers who are temporarily unemployed, or cannot work because they are on maternity leave, are ill and so on. You must register for UIF with the Department of Labour by completing the UI-8 form.
The UIF will provide you with a registration number. You must also register with SARS by completing the EMP101 form within 14 days after becoming an employer. The employee and the company each contribute an amount equal to one per cent of the employee’s monthly remuneration.
You must pay the contributions by the seventh of each month. You must pay the UIF as part of your monthly EMP201 payment to SARS if you’re registered as an employer with them, otherwise pay UIF directly.
In addition to the monthly UIF payments, you need to declare your contributions to the UIF. On a good, fully localised payroll solution, you can submit this declaration electronically rather than completing the UI-19 paper form. This declaration gives the UIF all the information it needs about new and existing employees as well as employees leaving your employment.
Issue tax certificates at the end of each tax year
Tax certificates (IT3a/IRP5) must be issued to employees at the end of February each year, or when they leave your employment during the tax year, which runs from March to February each year. You must also complete an EMP501 reconciliation, which reconciles your monthly PAYE, SDL and UIF payments, EMP201 declarations and tax certificate information and submit it with the tax certificate information to SARS at the end of each tax year.
An automated payroll solution like Sage One Payroll will allow you to print an IRP5 at a push of a button and also generate a file to import into the SARS e@ syFile system so that you don’t have to manually capture tax certificates.
A mid-year EMP501 reconciliation must also be submitted to SARS, reconciling the first six months of the tax year (March to August). No tax certificates are handed to employees as part of this submission. To avoid penalties, you must meet the submission deadlines, which are usually end of May and end of October.
efiling
SARS eFiling is free online software used for the submission of tax returns. It allows individual taxpayers, tax practitioners and businesses to register and submit tax returns, make payments and perform other interactions with SARS in a secure online environment. Once registered on the system, you can submit returns, view your tax status and make payments to SARS electronically 24 hours a day.
If you’re on efiling, you are also given more time to make your submissions and payments. And if you’re a business paying VAT, you get until the last working day of the month to pay it rather than needing to pay by the 25th of each month as businesses that file manually must.
You also have a full history of all submissions, payments and electronic correspondence available to you at the click of a button through a reporting tool. What’s more, you can receive SMS and email notifications to remind you when submissions are due.
Employer is a software package designed by SARS to help employers manage their engagements with SARS quickly. It can be downloaded onto your desktop and all work can be done offline and you only go online when you are ready to submit returns or reconciliations (EMP501) and tax certificates (IT3a/IRP5) to SARS or manage agent appointments (ITA88) via efiling.
Streamlining it all with a payroll
Remember that SARS will no longer accept manual submissions if you have more than five IRP5/IT3(a) tax certificates to submit, so be sure that you’re efiling.
To download the latest versions of the SARS software, visit sarsefiling.co.za. If you use an automated payroll solution that does the PAYE, UIF and SDL calculations on your behalf, the reconciliation process will be much simpler for you.
Some systems offer a full set of reconciliation reports, making the interim reconciliation easy and time efficient. For example, they can generate a tax certificate export file that employers can submit through e@syFile. A good payroll solution will also indicate if your returns are missing any demographic data, which could save you from having submissions rejected by SARS and possible administrative penalties.
Karen Schmikl, Sage One Payroll’s Product Manager, is responsible for designing the software and is involved in marketing, sales and support. Schmikl has been part of the Sage HR & Payroll team for some 14 years, having joined Sage VIP in 2001.
You’ve started up a new business and hired your first employees, or your one-person band has grown to a stage where you need some extra hands to help you. Suddenly, you’ve got a lot more admin to do if you’re to remain compliant with various tax and labour laws and regulations.
Getting it wrong - failing to register with all the authorities or missing their return deadlines for submissions - can cost your business a fortune in penalties, fines and interest payments.
Meeting these requirements may look daunting if you have never run a payroll before. However, the process can be quite straightforward, provided you’re well-informed about how it works and have the right tools in place to streamline the paperwork. Let’s look at the requirements in more detail.
Register for PAYE
As soon as you bring employees on board, you must register yourself as an employer with the South African Revenue Service (SARS) and deduct taxes from employees every month. You must register with SARS by completing the EMP101 form within 14 days of becoming an employer.
You must deduct tax from employees’ wages or salaries as well as their bonuses, commissions, additional earnings and benefits according to the annual SARS tax tables. You must pay over the PAYE deducted to SARS by the seventh of each month accompanied by a completed EMP201 return.
SDL
The Skills Development Levy is a one per cent levy that government imposes on the total company payroll to encourage learning and development in South Africa. You must register for SDL with SARS by completing the EMP101 form within 14 days after becoming an employer.
If the estimated total remuneration subject to SDL (levy-able amount) that you pay to all employees over the next 12 month period won’t exceed R500, 000, you will be exempt from SDL and won’t need to register. The levy payment is due every month by the seventh as part of your EMP201 payment to SARS.
Unemployment Insurance Fund
The Unemployment Insurance Fund (UIF) provides short-term payments to cover workers who are temporarily unemployed, or cannot work because they are on maternity leave, are ill and so on. You must register for UIF with the Department of Labour by completing the UI-8 form.
The UIF will provide you with a registration number. You must also register with SARS by completing the EMP101 form within 14 days after becoming an employer. The employee and the company each contribute an amount equal to one per cent of the employee’s monthly remuneration.
You must pay the contributions by the seventh of each month. You must pay the UIF as part of your monthly EMP201 payment to SARS if you’re registered as an employer with them, otherwise pay UIF directly.
In addition to the monthly UIF payments, you need to declare your contributions to the UIF. On a good, fully localised payroll solution, you can submit this declaration electronically rather than completing the UI-19 paper form. This declaration gives the UIF all the information it needs about new and existing employees as well as employees leaving your employment.
Issue tax certificates at the end of each tax year
Tax certificates (IT3a/IRP5) must be issued to employees at the end of February each year, or when they leave your employment during the tax year, which runs from March to February each year. You must also complete an EMP501 reconciliation, which reconciles your monthly PAYE, SDL and UIF payments, EMP201 declarations and tax certificate information and submit it with the tax certificate information to SARS at the end of each tax year.
An automated payroll solution like Sage One Payroll will allow you to print an IRP5 at a push of a button and also generate a file to import into the SARS e@ syFile system so that you don’t have to manually capture tax certificates.
A mid-year EMP501 reconciliation must also be submitted to SARS, reconciling the first six months of the tax year (March to August). No tax certificates are handed to employees as part of this submission. To avoid penalties, you must meet the submission deadlines, which are usually end of May and end of October.
efiling
SARS eFiling is free online software used for the submission of tax returns. It allows individual taxpayers, tax practitioners and businesses to register and submit tax returns, make payments and perform other interactions with SARS in a secure online environment. Once registered on the system, you can submit returns, view your tax status and make payments to SARS electronically 24 hours a day.
If you’re on efiling, you are also given more time to make your submissions and payments. And if you’re a business paying VAT, you get until the last working day of the month to pay it rather than needing to pay by the 25th of each month as businesses that file manually must.
You also have a full history of all submissions, payments and electronic correspondence available to you at the click of a button through a reporting tool. What’s more, you can receive SMS and email notifications to remind you when submissions are due.
Employer is a software package designed by SARS to help employers manage their engagements with SARS quickly. It can be downloaded onto your desktop and all work can be done offline and you only go online when you are ready to submit returns or reconciliations (EMP501) and tax certificates (IT3a/IRP5) to SARS or manage agent appointments (ITA88) via efiling.
Streamlining it all with a payroll
Remember that SARS will no longer accept manual submissions if you have more than five IRP5/IT3(a) tax certificates to submit, so be sure that you’re efiling.
To download the latest versions of the SARS software, visit sarsefiling.co.za. If you use an automated payroll solution that does the PAYE, UIF and SDL calculations on your behalf, the reconciliation process will be much simpler for you.
Some systems offer a full set of reconciliation reports, making the interim reconciliation easy and time efficient. For example, they can generate a tax certificate export file that employers can submit through e@syFile. A good payroll solution will also indicate if your returns are missing any demographic data, which could save you from having submissions rejected by SARS and possible administrative penalties.
Karen Schmikl, Sage One Payroll’s Product Manager, is responsible for designing the software and is involved in marketing, sales and support. Schmikl has been part of the Sage HR & Payroll team for some 14 years, having joined Sage VIP in 2001.
download avatar theme for windows 7 freemicrosoft windows 10 download iso 32 bit freecanon scanner lide 110 software free download for windows 10download gta 5 for window 10download free fire pcadobe flash player for free download for windows 8 freebubble game free download for pcps4 controller on pc windows 10 downloadmotorola pc suite download windows 7partition magic 8 for windows 7 64 bit free download free
canon solution menu ex free download for windows 7 free
cluster trucks free download pc
spider solitaire download free for windows 7 free
sound effect manager windows xp free download free
download elan touchpad driver windows 10 free
bitlocker free download for windows 10
line download for windows 8 free
download lightworks free for pc
dragon ball z xenoverse pc game download
download internet explorer 9 for windows 10
hp 1018 driver windows 10 64 bit download
ati catalyst control center download windows 7 64 bit free
hearts for windows 10 download
combat arms download windows 10
advanced pc cleaner free download
https://fundamentservis.ru/path-of-exile-overlay-map-daily-deals/
https://fundamentservis.ru/mass-effect-3-galaxy-at-war-offline-whats-the/
https://fundamentservis.ru/dell-precision-m2400-drivers-dell-precision-m2400-2/
https://fundamentservis.ru/creative-zen-micro-driver-unable-to-find-creative/
https://fundamentservis.ru/lenovo-yoga-14-drivers-lenovo-yoga-3-14-inch/
internet explorer 7 for windows 10 64 bit download
paint download for pc windows 7
cod black ops 4 beta pc free download
adventure free download games for pc
viber download pc windows 8
download image viewer windows 7 free
best pc games 2016 free download
html5 software free download for windows 10 64 bit
download logitech setpoint for windows xp free
hp assistant support windows 10 download
latex free download for windows 10 64 bit
fifa 14 full game download for pc free
asphalt 8 download for pc windows 10
nero cd burner software free download for windows 7 free
broken sword pc game download
https://fundamentservis.ru/what-is-roccat-talk-roccat-talk-fx-talk-overview/
https://fundamentservis.ru/red-bull-bungie-codes-steam-linking-is-here/
https://fundamentservis.ru/player-upgrades-fifa-15-fut-15-fut-winter-upgrades/
https://fundamentservis.ru/fifa-16-or-pes-16-fifa-16-vs-pes-16/
https://fundamentservis.ru/m-audio-mobilepre-driver/
download super mario bros 3 for pc windows 7
candy crush jelly saga game free download for pc
hp laptop drivers for windows 10 download
vlc player download for windows xp sp3 free
file manager for windows 10 free download
download tema windows 10 gratis free
custom cursor windows 10 download
danganronpa trigger happy havoc pc free download
intel i3 2100 graphics driver download windows 10
download windows vista home premium 32 bit iso free free
камни знаки зодиака скорпион
камень знака зодиака овна
знак зодиак лев камень
камни знака зодиака овена
камень знаки зодиака овен
https://bopspopss.blogspot.com/2021/05/blog-post.html
https://hophopnews.blogspot.com/2021/05/blog-post.html
https://bopsneeews.blogspot.com/2021/05/blog-post.html
любимые камни знаков зодиака
знак зодиака камень свойства
знаки зодиака камни талисманы
камень львов знак зодиака
знак зодиака рыба камень
камень рака знак зодиака
камень знак зодиака аметист
камни знака зодиака овена
близнец камни знака зодиака
камень знака зодиака тигр
камни знаков зодиаков рак
камни знака зодиак весы
знаки зодиака камень
камни знаки зодиака скорпион
камень знака зодиака овна
знак зодиак лев камень
камни знака зодиака овена
камень знаки зодиака овен
https://bopspopss.blogspot.com/2021/05/blog-post.html
https://hophopnews.blogspot.com/2021/05/blog-post.html
https://bopsneeews.blogspot.com/2021/05/blog-post.html
любимые камни знаков зодиака
знак зодиака камень свойства
знаки зодиака камни талисманы
камень львов знак зодиака
знак зодиака рыба камень
камень рака знак зодиака
камень знак зодиака аметист
камни знака зодиака овена
близнец камни знака зодиака
камень знака зодиака тигр
камни знаков зодиаков рак
камни знака зодиак весы
знаки зодиака камень