Newsletters and Case Studies

VAT SAVED

VAT amounting to R430 126 was saved when property was sold in the correct manner.  The VAT act has subsequently been amended and the amount refunded to the client. The business was registered for VAT and farms had been purchased from a person who was not registered for VAT. We advised that VAT be claimed on second-hand goods (the farms).  Although transfer duties had been paid, SARS refunded the VAT.  Quite often businesses do not claim all the permissible VAT. Due to our thorough knowledge of legislation we are in a position to advise clients when VAT can be claimed.   Claiming VAT on double-cab bakkies is not permissible and may lead to penalties and interest being levied by SARS....
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Newsletter No.3

Ask Entrepreneur What is the best way to write a new business plan for a start-up? How detailed do I need to be? During the earliest stages of starting a business, the last thing you should concern yourself with is writing lengthy plans or long-winded executive summaries. It's time to kill the traditional business plan in favour of a realistic, practical tool. You might think there's no way to write everything there is to know about your brilliant business idea in one paragraph. Guess what? You're wrong. You probably don't have much to say - because it's likely that you haven't proved a thing yet. A one-paragraph startup plan is exactly what it sounds like: Your entire business concept boiled down into an easily digestible format. Unlike traditional business planning that teaches people to brainstorm-write-brainstorm-write-revise-revise-execute, the goal of the one paragraph plan is to have you brainstorm-write-execute-revise-execute. There are fundamental differences between these two...
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Newsletter No.2

CAN GOVERNMENT ATTACH YOUR COMPANIE’S / CLOSE CORPORATION’S ASSETS.  We think it is crucial for all directors and members with companies or close corporations to take urgent notice of this silent killer, perhaps just another way of the government to make money, but a very disturbing way. That is for sure. Since 2009 companies and close corporations have been urged to submit their annual returns on time to avoid being deregistered and on past occasions, extension have been granted to allow business entities to submit their overdue returns to avoid final deregistration. Should CIPRO have to deregister a company or close corporation, the entity will no longer be able to conduct business as it will no longer be a registered business in terms of the Companies Act and Close Corporations Act. Deregistration of a company or close corporation, may also result in freezing of the entity's bank account and the...
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