Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Search Products
Filter by Categories
B-BBEE
Blog
Company Secretarial
Featured
General Business
General Interest
Investing in Property
Marketing
Personal Growth
Personal Wealth
Tax
Trusts and Estate Planning
Uncategorized

So many people register a company with us and then do nothing with it.

Is that a problem?

Most definitely.

SARS is imposing a penalty of R200 each month for every Income Tax return that is outstanding by companies. They appear to be particularly targeting dormant companies. To avoid this, you will either have to submit nil returns yourself or pay someone else to do them for you.

CIPC imposes a much smaller penalty of R50 for late submission, but they will de-register your company after a few years of non-submission. You can submit the returns yourself or pay someone else to do them for you.

All of that involves effort or cost.

What if you decide that you want the company de-registered? If we formed the company for you, it probably only cost you R475, but to get it fully de-registered at CIPC and SARS costs about R10 000!

So, think twice before you register a company. Only do so if you are serious about going into business.

0 comments

XHTML: You can use these tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

Looking for even more informative content? Check out the books I have written which have proved to be very popular.

Need help with your Trust or Business?

Contact us today or set up a free meeting with our CEO, Derek Springett. We have been offering expert advice and business services since 1971. You can also view see our full list of services.

Do you want to leave your cart?

Your cart is awaiting your next purchase, so please proceed to the Home page and continue shopping. If you are leaving your cart because of problems, why not give us a call on our 24 hr numbers 063 866 8928 or 011 805 0030 (subject to load shedding)? If all else fails, call Derek, our CEO on 082 552 9696. We’ll do what we can to help