Taxation
Ensure that your business entity is always on the right side of SARS by utilising our taxation solutions.
Individuals and businesses, both small and large, have a vital role to play as taxpayers. Therefore, certain obligations need to be met on a constant basis. South Africa uses a progressive, residence-based taxation system whereby residents are taxed on their income incurred from both corporate and personal duties. Through the utilisation of Prestige Payrolls, your compliance with tax obligations will be made easy.
EMP201 Returns:
On a monthly basis, your UIF, SDL and PAYE is payable via an EMP201 return. Click on the below articles for more information:
EMP501 Returns:
With accurate reconciliations, as well as an innovative and user friendly experience, your tax year end becomes the least stressful part of a financial year.
What do Tax Year Ends Entail?
SARS calls on employers to submit annual reconciliations of declarations with their most current, accurate payroll information about their employees and corresponding tax deductions (UIF, SDL and PAYE).
What are EMP201 returns?
EMP201’s are employer declarations of staff taxes based on total income. These reconciliations are required, by SARS, to be submitted on a monthly basis in conjunction with the amounts deducted from the staff.
How can Prestige Payrolls help your company?
We ensure that you deduct the correct amount of UIF, PAYE, SDL and ETI from your staff. Additionally, Prestige Payrolls helps your company pay the correct funds over to SARS.
Staff taxes are required to be bi-annually reconciled as per EMP501. Prestige Payrolls is able to complete this process for you, as well as submit IRP5’s to the individuals at your company.
Our services include the secure storage of your EMP201 returns in our archives for 5 years, subsequently maintaining your company’s compliancy in case of a SARS audit.