I own a small salon. It's doing pretty well. It's been 6 months since it opened. It has its own business account. I have 3 employees, 1manager (7k) and 2 casuals (3k monthly). Problem is I don't knw where to start; how should I go about with SARS and my business, what should I bring? I contacted an audit company and they requsted 12 bank statements. I have 6months. is it early for my business to do SARS....? And my employee who earns 7k and me should I tax our salaries by where to pay?
Is your business registered as a company? Or do you operate in your personal capacity as a sole proprietor?
Lulusays: 14 January 2016 at 17:38
I registered it as a pty ltd as was not aware about sole Proprietor. Can it be changed?
TaxTimsays: 15 January 2016 at 7:23
It would be best to contact a small accounting company to do the books of the business and manage the payroll as you need to deduct tax and UIF from your employees. You don't need an auditor, but perhaps an accountant for an hour or two a month.
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