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SARS are already hitting dormant companies with monthly penalties for failing to submit Income Tax returns. They are now gearing up to do the same to dormant companies that are registered as employers and have not submitted PAYE returns.

They have started, as before, by sending out hundreds of demands for EMP201 and EMP501 returns warning that failure to submit can lead to penalties and legal action.

So, don’t think that just because you haven’t traded or you don’t employ anybody, you’re off the hook. Yours is exactly the kind of company that they are going after.

You can submit the returns yourselves or you can engage a company such as ours to do them for you for a nominal amount.

Need help with your Investments?

Contact us today or set up a free meeting with our CEO, Derek Springett, to discuss your options. We have been offering expert financial advice and business services since 1971. You can also visit our online store to see our list of financial services.