Welcome To Tayfin

By: Taygro  11-11-2011
Keywords: Accounting, sars

At Tayfin Aboo Phaka Incorporated we have a strong campus style method of office operation. This dictates how our offices operate and the systems used by us in dealing with your work. This method has been carefully designed by our management team from commencement until current into a highly sophisticated model.

We named our model “The Adam-Marx Model” after the founding fathers of modern day economics. This is due to the combination of tenets taken from Adam Smith and Karl Marx both with centralised and autonomous ideals of market play

From Adam Smith, we adopted the theory of specialisation and allocation of resources within our firm, so that all departments are divided per specification so that the practitioner you encounter has the ability to fluently advise you on his area and briefly advise you on other ancillary areas too.
From Karl Marx we have adopted the theory of centralisation and that all activities are delegated, designated and monitored form management at the top of the office hierarchy. In reality this means that our clients can be confident that all of their matters and issues irrespective of their size have been overlooked and evaluated by senior personnel. This is the finishing touch on the service we offer, a personal signature upon delivery.

With our management team at the top of the office hierarchy, our model operates some what similar to the human body. The management team acts as the head of the body, overseeing and delegating to the rest of it. The middle part of the body is comprised of three departments; peoples, systems and processes. The peoples department acts as the spine of the body, supporting it in the absence of management. One arm of the body is our systems department and the other our processes department whom conduct most of the hands-on work.

And, lastly at the bottom of our body at foot level is our support staff and office management, without whom we would be unable to move forward or gain distance in our operations.

This is our perception of our services to you and in our opinion the best model to use as it places customer care and satisfaction as a prime priority all the time.

  Our peoples department deals with all people related services and is divided into the following areas:

    • Formation of companies, section 21 companies, close corporations and trusts
    • Change of particulars, that is directorships, memberships, shareholdings, auditors, name of all entities
    • The lodging of all respective forms and correspondence at the Registrar of Companies
    • The issuing of share certificates and share transfer forms
    • The search for entities and particulars using the internet and company related websites
  • The drafting of all legal documents and contracts
  • The perusal and evaluation of legal documents and contracts
  • The ratification of constitutions, company minutes, company policies and corporate governance procedures
  • Interacting with outside legal firms and advocates
  • The liquidation of companies and close corporations
  • The administration of estates
  • The sequestration of individuals

The systems department deals with all systems related to accounting and auditing to be installed or evaluated. The department is divided as follows:

  • Basic accounting services for clients on a monthly basis
  • The compilation of annual financial statements
  • The auditing of companies and associations
  • Provision of internal and external auditing services
  • The provision of interim financial statements, management accounts and cash-flow projections
  • Statements of assets and liabilities
  • Installation of accounting systems and practices
  • Installation of computer systems and processes
  • Design of specific systems to suit client needs and requirements
  • Business profiling for clients for use as part of tenders, accreditations and loan application
  • The performance of forensic audits and investigations
  • Assistance to any law enforcement agency
  • Completion of due diligence evaluation and reports

The processes department deals solely with accounting and tax processes and is the main liaison force between Tayfin Aboo Phaka Incorporated and SARS. This includes the performance of monthly tax processes on behalf of clients and the more sporadic tax investigations and cases. The department can be further divided as follows:

  • Registration for Value Added Tax
  • The compilation of bi-monthly VAT returns and submission to SARS
  • Handling all VAT related queries at SARS
  • VAT de-registrations
  • Registration for Employees Tax
  • The compilation of monthly EMP returns and submission to SARS
  • The  compilation of salary schedules and structure of salary packages
  • Handling all EMP related queries at SARS
  • Registration for Skills Development Levy, UIF and Workmens Compensation
  • Registration for Income Tax
  • Compilation of annual tax returns together with the financial statements
  • Compilation of annual provisional tax returns
  • IRP30 applications
  • Applications for tax directives and tax clearances
  • Completion of tender documents and accreditations
  • Letters of confirmation and good standing
  • The clearance of summons
  • Court attendance on behalf of clients on tax related matters
  • Tax cases with SARS
  • Assistance with tax audits from SARS
  • Business Systems Review
  • HR Policy Review/Payroll Management
  • Research and Industry Analysis

Keywords: Accounting, sars