Financial Services Process
PCH aim to legitimately minimise tax payments and maximise after-tax returns by structuring customised and unique solution to every client’s financial needs.
We ensure that our staff and partners have an up-to-date knowledge of all tax legislation and departmental practices and we liaise daily with the South African Revenue Service to ensure that at all times our clients’ affairs are kept in order.
A key role is ongoing accounting support in the form of ongoing bookkeeping and management accounting, VAT and PAYE compliance, including biannual EMP501 reconciliations, and regular management reporting, leading up to year end finalisation.
1. June – deadline for submission of EMP501 submission;
2. July – tax season opens
3. August – submission of 2012 1st provisional tax estimate (IRP6)
4. November – deadline for submission of ITR12 tax returns for individuals via eFiling
5. January – extended deadline for submission of ITR12 tax returns for provisional taxpayers;
6. February – deadline for submission of February year end Companies IT14 tax returns;
7. February – submission of 2012 2nd provisional tax estimate (IRP6)
Correct operational structure is particularly important to tax-paying business owners. At Private Client Holdings we offer comprehensive advice on the benefits and pitfalls of incorporation of companies, Turnover Tax, small business corporations, personal service entities and independent contractors.
Vat Planning & compliance
Private Client Holdings can assist you with all of your compliance needs – including the ever-increasing requirements to file returns on time, pay your liabilities promptly and avoid onerous interests and payments on PAYE, SDL, UIF, VAT, etc.
There are many opportunities with tax planning to reduce your tax liabilities. At Private Client Holdings we spot opportunities and implement tax saving ideas; whether you are concerned with income or corporation taxes, VAT or PAYE, capital gain or inheritance taxes. Good advice at the right time can save you money.
Effective routine administration is the foundation upon which successful businesses are built and its importance cannot be ignored. However, it can be extremely tedious and time-consuming for many organisations to carry out this task internally.
At Private Client Holdings we offer a comprehensive range of bookkeeping and accounting services that can ultimately facilitate the growth of your company and assist our clients in achieving their business objectives, managing their risk and improving their business performance.
We offer absolute adherence to stringent levels of service and compliance to regulations.
PCH are able to accommodate your personalised accounting functions such as:
• Monthly bookkeeping
• Completion and submission of VAT returns
• PAYE compliance
• Management accounts preparation
Year End Accounting
The preparation of year end financial statements is essential for any stakeholder of an enterprise. Whether being prepared for management, SARS, shareholders or the bank, the following financial statements, prepared in accordance with South African accounting standards are required:
• Sole proprietors – income statement and balance sheet preparation;
• Partnerships and Trusts – financial statement compilation;
• Close Corporations – acting as Accounting Officers;
• Companies – compilations and Independent Reviews
Outsourcing your company’s payroll enables you to streamline your business, allowing it to run more efficiently. The payroll function has become increasingly complex owing to changes in tax legislation and other complex labour regulations. Are you confident that you have the expertise to accurately and efficiently handle your organisation’s payroll?
Due to the constant changes in legislation, Basic Conditions of Employment and SARS compliance, Private Client Holdings have established a wide range of electronic payroll services to give you peace of mind to focus on you core business. Our services include:
• Remuneration structuring
• Payroll reports and payslip generation
• Facilitation of the payment of employee salaries and wages
• Monthly PAYE submissions
• Annual IRP certificates and biannual EMP501 reconciliations
• Third Party reconciliation, submissions and payment, i.e. Pension and Provident Find, Medical Aid, Union and Bargaining Councils, etc.
When starting or running a business, there are a myriad of legal rules and regulations to be observed and reviewed regularly. Non-compliance can have costly consequences through severe fines, penalties and, in some cases, even criminal prosecution. But not everyone has the full knowledge of all the changing legislation – or the time to keep up with it.
Private Client Holdings can take care of all the statutory details and can also assist you to register for VAT, PAYE, UIF, Workmen’s Compensation, Skills Development Levies, Income Tax as well as other certificates and licenses which are needed to carry out your business lawfully.
We offer a wide range of secretarial services that will give you peace of mind knowing that all legal formalities have been complied with. These include:
• Registration of business names.
• Drafting and registration of a business prospectus.
• Incorporation of Companies and Close Corporations.
• Transfer of shares.
• Maintenance of shareholders registers.
• Appointment of company directors.
• Transfer of member’s interest in a Close Corporation.
• Preparation and submission of documents with the Registrar of Companies.
• Completion and submission of annual returns.
Running a business can be overwhelming, and in the managing of day-to-day activities, significant issues can be overlooked.
Problems with management may arise through a lack of impartiality, time, knowledge, or expertise needed to identify and manage internal weaknesses, threats and also opportunities.
Private Client Holdings are able to guide your business forward through the development of strategies and the achievement of objectives – ultimately making a noticeable difference in your company’s competitiveness and profitability.
Our consulting service includes advice on Structured Finance, a specialised support function in respect of financial and tax advice, funding, forex and all non-standard aspects relating to transactions.
Private Client Holdings have a team of highly qualified and dedicated professionals from accounting, legal, finance and taxation disciplines, who are tasked with understanding various industries and the particular assets used in these industries.
The result is more meaningful, focused and valuable advice and planning.
Additional Business Advisory services include:
Whether buying or selling a business, bringing on a partner or entering into a joint venture, Private Client Holdings are able to prepare business valuations and assist in the negotiation process.
Our Management Consulting service includes the review of accounting systems and internal controls, product and service costing analysis as well as financing and decision making support.
Private Client Holdings are also able to offer guidance on corporate structuring, whether it is group structures, trust incorporation and financing decisions. Our team of experts will ensure that the correct structures are in place to ensure tax efficiency and long term value generation and preservation.
PCFS is a registered training centre with the South African Institute of Professional Accountants (SAIPA) – licence number ATC1073.
We offer a 3 year learnership programme for trainee accountants looking to qualify as registered professional accountants under SAIPA.
The programme takes the learner through all aspects of financial and management accounting, taxation, corporate law and practice management in preparation for the final SAIPA qualifying exam.