IRP5, SARS & E-FILING
If you are having sleepless nights about your SARS monthly EMP201 submissions and your staff’s IRP5 certificates. Outsource it to us and sleep well tonight.
In today’s competitive business climate, your business partners, creditors, clients and SARS, expect you to have up-to-date tax certificates and accounts. This requires much time and money in order to accomplish on-going tax compliance in-house. The most cost-effective solution is to outsource your payroll to a professional services consultant. Pay Focus provides a full range of payroll services to enable you and your company to submit tax returns on time and save you money on tax returns. We keep up-to-date with all the legal requirements and legislation.
Small business tax requirements place a huge burden on business owners in terms of keeping compliant with legislation in terms of Employee PAYE. We are dedicated to providing a professional and timely service to all clients.
We provide the following outsourced services to businesses:
Completion and submission of PAYE/UIF/SDL returns;
Completion and submission of EMP501 returns;
Correspondence with SARS;
Registration of Income PAYE/UIF/SDL;
Requesting Tax Clearance certificates;
What is it?
IRP5’s and IT3(a)’s are often referred to as a “tax certificates”. An IRP5 is an official employee’s tax certificate that is issued to them at the end of each tax year (for individuals, the tax year stretches from 1 March until 28/29 February of the following year) outlining all employer/employee related incomes, deductions and related taxes.
Importantly, your IRP5 also contains the tax paid or PAYE (Pay As You Earn), which is deducted from your salary each month automatically and paid over to the South African Revenue Service (SARS).
It is used by the employee specifically to complete their income tax return for a specific year.
Tax filing season for salaried employees opens on July 1 and runs until November.
The South African Revenue Service is the tax-collecting agency (revenue service) of the South African government. It exists to collect revenue and ensure compliance with tax law. These are SARS primary functions:
Collect and administer all national taxes, duties and levies
Collect revenue that may be imposed under any other legislation, as agreed on between SARS and an organ of state or institution entitled to the revenue;
Provide protection against the illegal importation and exportation of goods;
eFiling (Easy-Filing) is a simple, safe and secure way of interacting with SARS.
eFilers are given significantly more time to make their submissions and payments to SARS. More time to submit returns means a longer period to pay any additional income tax for individual taxpayers and trusts. Alternatively, a business paying VAT, will get until the last business day of the month to pay over (instead of the 25th for manual filers).
Outsourcing your tax-related duties and payroll services to Pay Focus will allow you to focus on your business while we process IRP5’s, pay checks, liabilities, and prepare tax returns.