If your business (in your personal capacity or as a registered company) has a gross income of R1 million and over then you are required by law to register for VAT. Voluntary registration can be done if you have a turnover of more than R50 000.
We can assist in registering your company for VAT and do the SARS interview for registration on your behalf. The following process is followed when doing so:
- Send mail to client with requirements
- Once all documents are obtained we visit SARS for the registration and interview
- A SARS official records all documents after interview and provides VAT number
- Register client on E-filing for submission purposes
VAT Returns – Output and Input VAT
Our service includes the monthly and bimonthly submission of your VAT. Please note that if you have not done any VAT submissions, we can help with outstanding returns (our longest backdate was over a period of 15 years). Input VAT is claimable for 5 years since date of invoice.
Below is an example of items that can be claimed as VAT input:
- Office rent
- Travel costs
- Cost of sales
- Municipality bills
All expenses for which the company have a qualifying invoice that was spent on expenses in order to gain income