If you intend to grow your business from micro to small to medium, you will need discipline and diligence, especially when it comes to your business’s finances.
Typically, SMEs do not have an in-house accountant, meaning that this critical business function is then outsourced.
CN Outsourced Finance provides business advisory solutions for small to medium businesses and are well-versed on all things accounting, tax and payroll related to ensure that you are compliant with SARS regulations. We also help you reduce your tax bill by maximising the tax deductions you are entitled to.
There is no one-size-fits-all so make sure that the qualified professional whose services you enlist tailor makes a solution suited to your tax submission requirements. This includes the annual ITR14 SARS submissions required by all registered companies. This is when you declare income and expenses for SARS to calculate your business tax contribution, if any is applicable.
Rule of thumb of what to look for:
- A firm or a professional registered with recognised bodies such as The South African Institute of Professional Accountants (SAIPA) or the South African Institute of Chartered Accountants (SAICA), Southern African Institute for Business Accountants (SAIBA) or South African Institute of Taxation (SAIT).
- A firm or professional with good references and who has a good understanding of small and medium business needs.