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May and CompanyAccounting | Auditing | Tax Specialists

Lean Times Ahead: 6 Steps to Help You through Them
Hard times are upon us, and the fact that we have successfully weathered the first month or two of the ratings downgrades shouldn’t lull us into a sense of security.  

If government doesn’t take action right now to avoid further downgrades, our “Junk Status phony war” will be followed by even greater financial difficulty for us all.

We suggest 6 steps you can take to minimise the pain, with a note for employers on why and how you should help your staff through these challenges.
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Non-Executive Directors: Income Tax and VAT Implications 
Non-executive directors (and their companies) will welcome new SARS rulings on when they need to register for PAYE or VAT.

We analyse the two Binding General Rulings issued by SARS (both effective from 1 June) and explain the thinking behind them.

If you are affected read on, it’s important to get this right …
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Lessons from the WannaCry Ransomware Attack  
The speed with which the WannaCry ransomware virus spread around the world, and the fact that further serious cyber-attacks are inevitable (in fact they’ve already begun) sounds alarm bells for both individuals and corporates which we just cannot afford to ignore.  

All of your data is at imminent risk!

We list suggestions on what steps to take right now to protect your computer data, and we discuss the importance of vigilance and care by both directors and senior management when protecting companies against these growing dangers.
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SARS Streamlines its Alternative Dispute Resolution System via eFiling 
3 new eFiling upgrades from SARS will help both taxpayers and the taxman communicate effectively when an ADR dispute process is required.

Find out why these enhancements were necessary, what they are, when and how they apply, and how they benefit you.

For example, you can now apply via eFiling for a suspension of the “pay now, argue later” rule in respect of VAT.  Read on for more …
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Which is Better for Your Business? Lots of Rules or a Few Good Principles? 
The last thing we need in our businesses is even more rules, bureaucracy and complexity than we are already lumbered with.

Yet it is vital to have systems in place to give us advance warning of problems and breaches of policies and controls, before they escalate and cause serious damage. 

How best can we achieve that?  Strong leadership is an essential first step, and we discuss the need to protect whistle-blowers, with some thoughts on how to structure our businesses for effective management without increased bureaucracy.
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Your Tax Deadlines for June, and another scam warning  
There are only run-of-the-mill tax reporting deadlines in June.

As SARS is an obvious target for scams, always be cautious when receiving communication from SARS. Make sure it is actually from SARS and not a fraudster.  See here for a sample of the latest “SARS: Letter of Demand” scam email.


The information provided herein should not be used or relied on as professional advice. No liability can be accepted for any errors or omissions nor for any loss or damage arising from reliance upon any information herein. Always contact your professional adviser for specific and detailed advice.

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