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Tax Shop Accountants Linden -incl Parkhurst & surrounds

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Tax Shop Accountants Linden -incl Parkhurst & surrounds

Keep your taxes and financial affairs in order with our qualified tax specialists and accountants

tax services, tax advice, tax return completion & submission, financial statements, management reports, accounting services, business advisory services

14/05/2026

Following the 2026 National Budget, the South African Revenue Service (SARS) has implemented significant changes to the VAT registration thresholds. If your turnover has shifted, your compliance obligations may have changed as well.
Here is what you need to know about the new thresholds effective from 1 April 2026:

Compulsory Registration: The threshold has increased from R1 million to R2.3 million. If your taxable supplies exceed this amount in any 12-month period, registration is mandatory.
Voluntary Registration: The minimum threshold has increased from R50,000 to R120,000. Businesses earning above this amount but below the compulsory limit may choose to register.
Navigating these changes is essential to ensure your business remains compliant and avoids unnecessary penalties.

Contact The Tax Shop Linden & Parkhurst for professional guidance:
084 363 2088 [email protected]

12/05/2026

The Employer Annual Declaration period is closing on 31 May 2026. To remain tax compliant, employers must file annual reconciliation declarations (EMP501) that reflect accurate and up-to-date payroll information for their employees.

This process involves reconciling your monthly employer declarations (EMP201) for PAYE, UIF, and SDL, as well as all payments made (excluding penalties and interest). This submission must include IRP5/IT3(a) tax certificates covering the full tax year from 1 March 2025 to 28 February 2026.

For assistance with your EMP501 submission, contact Tax Shop Accountants Linden -incl Parkhurst & surrounds 084 363 2088 or email [email protected]

24/04/2026

Diversification is often sold as the ultimate safety net. The logic is simple: if one revenue stream slows down, another picks up the slack. But is spreading your resources across new products or markets always the right move? For many businesses, what feels like risk management can quickly turn into a "hidden tax" on performance.
Here is a breakdown of the trade-offs:

The Upside:
✅ It provides a theoretical hedge against market volatility.
✅ It allows you to explore new territory when your core business reaches maturity.
✅ It can be a way to put excess capital or talent to work.

The Downside:

⚠ Complexity slows down decision-making. You often shift from "how do we win?" to "how do we stop things from breaking?"
⚠When you try to be everything to everyone, your message becomes blurry, and you may lose your competitive edge.
⚠Instead of managing one deep risk, you end up shallowly monitoring many, which can increase fragility.
⚠ Large, diverse organisations often lose the agility that allowed them to succeed in the first place.

The most resilient businesses are often those that stay narrow and dominate their niche through operational mastery. Before you expand, ask yourself: are you growing because you should, or simply because you can?

Need assistance with refining your niche or ensuring your operations are scale-ready? Contact The Tax Shop Linden for expert business advisory and tax services that build true resilience

Contact us for an obligation-free quote.
The Tax Shop Accountants Linden: 084 363 2088 [email protected]

14/04/2026

Starting an NPC is a noble pursuit, but from an accounting and tax perspective, it is one of the most regulated paths you can take.
Unlike a standard Pty Ltd, an NPC exists for a public benefit, and SARS holds these entities to a very high standard of transparency. While you register your NPC through CIPC, the real work begins with SARS, as an NPC is not automatically tax-exempt. To avoid paying corporate income tax on your donations and grants, you must apply for Public Benefit Organisation (PBO) status under Section 30 of the Income Tax Act, otherwise, your "charity" will be taxed like any other business.

Furthermore, if you want to attract serious donors, you need to cater for Section 18A certificates, which allows your donors to deduct their contributions from their own taxable income. For a donor, this is a huge incentive, but for your accounting, it means rigorous record-keeping and issuing specific tax receipts that comply with strict SARS requirements.

In an NPC, there are no "owners," only directors, and because you are essentially managing "public money," your financial statements must be impeccable. You’ll need to track every cent to ensure it is spent on the company’s stated objectives, as mismanaging funds doesn't just lead to a bad audit; it can lead to the loss of your PBO status and even personal liability for directors. Before you launch, ensure your founding document—the Memorandum of Incorporation—is drafted with tax-exemption in mind.

Need help with financial year end?
Contact us for an obligation-free quote.
The Tax Shop Accountants Linden: 084 363 2088 [email protected]

03/02/2026

Is your company’s financial year-end on 28 February? If so, an important compliance deadline is approaching. All companies and Close Corporations (CCs) are required to submit their Annual Income Tax Return (ITR14) within 12 months of their financial year-end. This means that for companies whose financial year ended in February 2025, the deadline for submission and payment is 27 February 2026.

Filing is mandatory even if your company was dormant, non-trading, or operated at a loss during the 2025 financial year. Failure to submit and pay by the end of this month can result in immediate late payment penalties plus interest, alongside recurring monthly administrative penalties. To ensure a smooth process, you must finalize your Annual Financial Statements (AFS) and update all compulsory beneficial ownership information before attempting to file on eFiling.

Stay ahead of your compliance requirements to protect your company's tax-compliant status.

Reach out to The Tax Shop Linden today for professional guidance on your ITR14 submissions and annual financial requirements.

28/01/2026

For the majority of South African SMMEs, the 28th of February marks more than just the end of a month—it is the close of the financial year. Proper preparation now is the difference between a seamless tax submission and a costly, stressful audit process later.

As the clock ticks down to year-end, business owners should prioritize these three critical areas to ensure their books are accurate and tax-efficient:

✅ Physical Stock-Take
If your business carries inventory, a comprehensive stock-take as close to 28 February as possible is essential. SARS requires an accurate valuation of trading stock on hand. This is also the ideal time to identify obsolete or damaged stock; writing these items off now ensures you don't pay tax on value that no longer exists in your business.

✅ Debtors Review & "Bad Debt" Write-offs
Review your accounts receivable (money owed to you). If there are debts that are truly irrecoverable despite your best efforts, they should be formally written off in your ledger before 28 February. By doing this, you can claim a tax deduction on those losses, reducing your overall taxable income for the year.

✅ Full Bank Reconciliations
Ensure that every transaction in your bank account—including credit cards and petty cash—is captured and reconciled. Unallocated deposits or missing expense receipts can lead to inaccuracies in your financial statements, which may raise red flags during a SARS review.

Taking these steps today allows you to enter the new financial year on 1 March with a clean slate and a clear understanding of your business’s financial health. Don't wait for the final week of February to begin; proactive management is the key to compliance and growth.

Need help with financial year end?
Contact us for an obligation-free quote.
The Tax Shop Accountants Linden: 084 363 2088 [email protected]

19/01/2026

February may be the shortest month of the year, but it is one of the most significant for taxpayers. We would like to remind all SMMEs and individuals with "side hustles," rental income, or significant investment portfolios that your second provisional tax payment is due on 27 February 2026.

This payment is a mandatory estimate of your total taxable income for the full 2026 tax year. Because this is the final provisional payment for the cycle, SARS is particularly strict regarding accuracy. This requirement applies to anyone earning income beyond a standard salary that exceeds the tax threshold. Accurate projections are vital, as SARS may levy under-estimation penalties for incorrect figures.

By preparing your data now rather than waiting until the 27th, you ensure you have the necessary liquidity and supporting evidence to back up your estimate while remaining fully compliant.

Contact The Tax Shop Linden today for expert assistance with your provisional tax calculations and submissions.
WhatsApp: 084 363 2088 or email: [email protected]

15/01/2026

IS YOUR PAYROLL DATA READY?

As we approach the February 2026 employer filing season, please take note of a critical change in SARS compliance regarding Pay-As-You-Earn (PAYE).

Historically, the South African Revenue Service (SARS) allowed a "grace period" where employers could submit their EMP501 reconciliations even if certain employees were missing tax reference numbers. In those cases, SARS would issue a warning but still accept the submission.

Effective February 2026, this grace period has ended. SARS will now strictly enforce the provision of valid income tax numbers. If any employee on your payroll is missing a tax number, your entire employer reconciliation submission will be rejected.

Key Implications for Your Business:

⚠️ Mandatory Compliance: You cannot successfully issue IRP5 or IT3(a) certificates without a valid SARS reference number for every taxable employee.

⚠️ Employer Legal Obligation: It is the employer's legal responsibility to ensure all staff are registered for income tax.

⚠️ Risk of Penalties: A rejected submission results in non-compliance, which can trigger administrative penalties and late-filing fines.

We advise all business owners to perform a payroll audit immediately. Identify any employees with missing tax data and ensure they are registered. This is also vital for employees, as missing tax numbers can delay retirement fund payouts and other financial transactions.

05/01/2026

You have until 19 January 2026 to file your personal income tax returns. Ensure that you remain tax compliant.

Contact us today for an obligation-free quote.
The Tax Shop Accountants Linden: 084 363 2088 [email protected]

19/12/2025

As we wrap up another busy year at The Tax Shop Linden & Parkhurst, our team is getting ready for a short festive break! 🎄

Please take note of our holiday hours:

Closed: December 24th – 28th

Closed: January 1st – 4th

We will be back in the office to help you tackle the new year with financial confidence. Wishing all our clients, colleagues and friends a restful and happy holiday season!

18/12/2025

Provisional taxpayers, your annual tax return (ITR12) filing deadline is just around the corner on 19 January 2026!

Take the stress out of your taxes with The Tax Shop Accountants Linden & Parkhurst and file your returns correctly and efficiently.

Contact us today for an obligation-free quote.
Whatsapp : 084 363 2088 or email [email protected]

Address

The Tax Shop Accountants Linden 1A Fourth Street
Parkhurst
2193

Opening Hours

Monday	09:00 - 17:00
Tuesday	09:00 - 17:00
Wednesday	09:00 - 17:00
Thursday	09:00 - 17:00
Friday	09:00 - 16:00

Website

https://taxshopservices.co.za/

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