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Taxco Services from A to Z


At Taxco we recognise that clients are our business partners and our reason for being in business and they are entitled to our best possible products and services, which make good business sense, regardless of variables or conditions. Here is a comprehensive list of our services and how we can assist you. Should you require any more information about our services do not hesitate to Contact Us.
 
  1. Auditing or review
  2. Accounting assistance
  3. Accounting software selection
  4. Accredited Training Centre
  5. Advisory
  6. Agriculture industry services
  7. Anti virus software
  8. Assessment review
  9. Assurance
  10. Banking services
  11. BEE Certification for Exempted Micro Enterprises
  12. BEE Trusts
  13. Bloemfontein Post Office Service
  14. Bookkeeping services
  15. Business broking
  16. Business planning
  17. Business start-up
  18. Car allowances
  19. Charities
  20. Company formations
  21. Company secretarial work
  22. Computer systems
  23. Consulting
  24. Contracts, Forms and Templates
  25. Corporate finance
  26. Corporate tax
  27. Customer billing
  28. Document OCR (Optical Character Recognition)
  29. Employee benefits
  30. Employment taxes
  31. Estate planning
  32. Family business services
  33. Financial planning
  34. Foreign investors
  35. Forensic services
  36. Government & Not-for-profit organisations
  37. Legal profession
  38. Management reporting
  39. Mergers and acquisitions
  40. Monthly Processing and Reporting
  41. Payroll
  42. Payroll taxes - Risk assessments
  43. Private tax client services
  44. Registered office or Address for Clients
  45. Retirement strategies
  46. SAIPA Training Centre Accreditation and Monitoring
  47. SARS Investigations
  48. Strategic planning
  49. Taxation in business
  50. Trusts and executorships
  51. Valuations
  52. VAT planning and compliance
  53. Wealth planning
  54. Wills and testaments

Auditing or review

Many organisations, mainly companies, require an audit or an independent review of their accounts by law. Whilst it is an essential requirement for these businesses, an audit has been regarded historically as a ‘necessary evil’. Taxco's clients clearly see the audit in a more positive light. That’s because apart from a designated CA(SA) providing the assurance that clients and specified third parties seek from an audit, we always strive to add value to our clients.

Where possible, we use benchmarking as an integral part of our approach, comparing your business to other organisations in your sector and of a similar size. We also look at trends in your business, typically over a five-year period and share all the key findings with you. Rigorous and pragmatic, we’ll give you the advice you need on systems and processes without leaving important matters up in the air.

Having a large number of clients in specialist areas, we have extensive experience in the specific rules and regulations which govern their environments and fully understand the importance of these regulations to our clients.

Our integrated audit services include:

  •     Auditing accounts
  •     Analysing trends
  •     Preparing statutory accounts
  •     Providing management information
  •     Benchmarking processes

Accounting assistance

Accounting assistance

Taxco can provide you with expert support when you are preparing your year-end statutory accounts. We offer precisely the level of assistance you need – from simply helping you get ready for an audit to undertaking the complete preparation of your accounts.

Our extensive experience in this area covers all kinds of organisations, including limited companies, partnerships, PBO's, NPO's, trusts, sole traders, joint ventures and other business entities.

Accounting software selection

Accounting software selection

We can ensure that your organisation is using the most appropriate accounting software. If you are frustrated with your existing system, or wish to implement a new or enhanced system, Taxco can give you objective advice on the best choices. Often, we find that existing software is perfectly adequate with just a few setup improvements required.

Accredited Training Centre

Taxco is a Accredited Training Centre for SAIPA and Softline Pastel. We deliver course from fundamental bookeeping, basic processing to intermediate an advanced Pastel Partner/Xpress courses all the way up to the 3 year professional accountant learnership.  

Advisory

Advisory

Whatever your vision, your accounting and control systems need to be tailored to suit it. We can help you design and improve your systems and arrangements to meet your needs, anticipating problems and finding solutions. We help ensure that your creative ideas make sense financially.

Agriculture industry services

Agriculture industry services

There can be no doubt that the agricultural industry and trades linked to the food chain are facing challenging times. A host of external factors, such as the strength of the Rand, government reform of various Agricultural Policies and the influence of the large retailers create widespread uncertainty. Running a successful business in today's economic climate is no easy task, harder still to sustain success.

Given this environment, the need for accurate and up to date financial information is paramount to enable the right decisions to be made. For this reason, our staff are trained on the various agricultural accounts packages and have an excellent understanding of the industry.

Above all, we are continually aware that we are dealing with the life-force of the sector – its people. Their feelings, livelihoods and future planning for passing the business on to the next generation are all essential elements that so often sit beyond the balance sheet. Not at Taxco - farming is a personal business and demands the personal service we offer.

Our integrated agricultural services include:

  •     Obtaining funding for business expansion, diversification and land purchase
  •     Preparing profit forecasts and cash flows
  •     Advising on taxation issues - capital gains tax - roll over relief, quotas and
        land development.
  •     Income tax - capital allowances, averaging, standard tax values
  •     Preparing VAT returns
  •     Structuring the business - private companies, partnerships and trusts
  •     Providing and planning for pensions and advising on tenancies and property assets

Anti virus software

Taxco is an reseller of ESET NOD32 anti virus software, ensuring proper virus protection.

With computer viruses becoming ever more frequent and robust, businesses need to be wise to the dangers and aware of the precautions they must take in the information age.

Assume the worst

Don't wait until a virus strikes to invest in software, install an effective anti-virus programme today.

And introduce a comprehensive computer security regime:

    Update pattern or virus definition files regularly, more than once a week
    Run complete scans on computers on a weekly basis
    Ensure all disks are scanned and employees are warned about the virus-carrying tendencies of downloadable items like screensavers and images
    Ensure that macro-viruses carried in popular programs such as Word and Excel are identified by your software.

If you want to be double secure:

    Scan e-mails and attachments before they are opened
    Invest in two software packages to give your network a backup in the event of one product being slower or failing to recognise particular viruses.

Visit the Taxco Shop to order your Virus protection software today.

Assessment review

If you are not completely satisfied with your SARS tax assessment, one of our Tax professionals can review the Assessment for you, and advise you of the correctness thereof for complete peace of mind, and advise of what steps to take albeit a Notice of Objection or what you can do to avoid the same tax situation.

Assurance

Assurance

When you are a decision maker, you need to be sure you are acting on reliable information. You need to be aware of your business risks and know that they are managed effectively. You need faith in your underlying systems and controls, and the certainty that you are compliant with key legal requirements. Moreover, you need to be able to instil your shareholders, investors and customers with the same confidence. A Taxco CA(SA) can give you the assurance you need.

Banking services

Taxco Accountants and Tax Consultants Trust FSP10754 is a registered financial service provider and we offer various banking and investment products. Via our association with Investec Private Bank and Nedbank Corporate Saver, we deliver excellent high yield call and longer term investments to our clients. Your capital and interest is 100% guaranteed by these entities and are pre-quoted by one of our professional investment advisors.

Banking charges can largely be reduced by channeling your deposits and payments of your business through one of these investment type accounts, where you will not only receive a higher interest as you would have on your current or saving account, but you will pay far less for electronic payments to your suppliers. make your money work for you and Contact us to discuss the right banking or investment solution for you.

BEE Certification for Exempted Micro Enterprises

As Professional Accountants, Taxco is perfectly positioned to be the provider of your EME certificate.

Exempted Micro Enterprise (EME) BEE Verification Services  
Any enterprise with an annual total revenue of R5 million or less, or is a recently formed or incorporated entity that has been in operation for less than one year (start up enterprise) would qualify as an Exempted Micro Enterprise (EME). EME’s are deemed to have B-BBEE Status of “Level 4 Contributor” having a B-BBEE procurement recognition of 100%. If an EME’s is more than 50% black owned, it is elevated to have a “Level 3 Contributor” having a B-BBEE procurement recognition of 110%.

More than 50% Black Owned means an entity in which:
• black people hold more than 50% of the exercisable voting rights
• black people hold more than 50% of the economic interest
• has earned all points for Net Value

Black = African, Coloured and Indian South African Citizens

Black individuals has the meaning defined in the Act qualified as including only natural persons who are citizens of the Republic of South Africa by naturalization:
• Occurring before the commencement date of the constitution of the Republic of South Africa Act of 1993; or
• Occurring after the commencement date of the Constitution of the Republic of South Africa Act of 1993, but who, without the Apartheid policy would have qualified for naturalization before then.

Value-Adding Enterprise:
An entity registered as a vendor under the Value-Added Tax of 1991, whose Net Profit before tax summed with its Total Labour Cost exceeds 25% of the value of its Total Revenue, is a Value-Adding Enterprise. If your entity is value adding according to this definition, there will be enhanced recognition of 125%. This means, if you are a value adding enterprise every rand spent will be multiplied by 1.25 first, before applying the relevant contribution status.

 

BEE Trusts

At Taxco we designed a BEE Trust for Black people as defined to give the maximum protection of assets, while the trust qualifies for the maximum tender points you might otherwise have been entitled to. Contact one of our Trust professionals today to register your BEE Trust and get the additional advantage.

The tax concessions provided by section 8B of the Act are to be welcomed as a contribution by Government to the spread of economic interests amongst the wider group of ordinary employees, rather than the select few upon whom those benefits are currently and frequently bestowed. Admittedly the tax concessions are not particularly significant. But they are structured in such a way that by the simple expedient of periodical increases in the figures referred to in the above section, considerable tax benefits to both employer and employee can be secured. This will encourage even greater participation by black persons in business enterprises on a basis which is tax efficient for all parties.

Trusts, which are now a common feature of all BEE structures, will need to conform not only to the requirements of the BBBEECodes, but also to the provisions of the Income tax legislation to produce the most advantageous results for all parties.

Bloemfontein Post Office Service

Postal Service - Bloemfontein

We take the hassle out of normal incoming and outgoing post by moving the Post Office to your doorstep.

Simply place your outgoing post in your mail bag (Supplied by us), we collect it daily, weekly or as you require, we do the franking, register items where necessary and send small parcels as requested and post the items at the Post Office for you.

We collect all incoming post at your Post Office postbox and drop it off at your office with proof of the previous registered items or parcels sent.

Itemized billing of each day’s postage ensures you keep control of your postage.

Outsource your postal services - It makes financial sense, is easy and increases productivity! (Unfortunately only in Bloemfontein)

Phone: 051-4470825/7
Fax: 086-5083105
Email: taxpost@taxcotrust.co.za

Our Track Record

Taxco has been in the postal, mailing house business for the past 15 years. Our Clients range from international corporates, public companies, auditing and accounting firms to the small business owner in Bloemfontein. We are well known for our efficient and effective service making our client’s business's work better.
Quality and confidentiality of service guaranteed.

Bloemfontein only (Monthly Fee)
Post Office Mail Bag Service
1 Day per week                     R200.00 per Month
3 Day per week                     R480.00 per Month
5 Day per week                     R600.00 per Month

Above amounts do not include postage fees.
Quoted amounts exclude VAT
All amounts payable by monthly debit order.
Vat invoice and monthly statements issued.

Please contact Pierre Goosen at
pierre@taxcotrust.co.za or 051-4470825/7 [Office], to register for this service, obtain quotes or for further enquiries.

Bookkeeping services

Our trained accounting staff process and maintain all your financial information on a suitable computerised accounting package on a monthly basis or for any other required period to produce a complete general ledger, including fixed asset, debtors and creditors ledgers, as required, with a final trial balance indicating turnover, all expenses, profit or loss and all assets and liabilities up to the compilation of your annual financial statements.

Batch listings, detailing each entry – (date, account allocation, description, vat, transaction amount), are used for billing purposes, so you only pay for your records actually processed and not for the time spent thereon.

Business broking

We provide a secure environment on our website for persons who wish to sell their businesses, with varying levels of anonimity to protect the Seller's interests. List your business under Business 4 Sale and we will screen the buyers for you. Only talk to people who are really serious about buying your business. List your business today!

Business planning

Business planning

A business plan is vital if your business is to evolve in anything other than a haphazard way. It helps you gauge income and expenditure, handle unforeseen circumstances and underpins good business decisions. It provides valuable information to those who work for you or with you (such as suppliers) and assists with the proper allocation of resources.

Moreover, if you are seeking funding for a business idea, having a business plan is critical. You will need to demonstrate to potential backers a strong understanding of how and why there is a need for your product or service. These backers will also need concrete reassurance as to how their investments will be repaid.

Taxco can review your business plan and help you to complete it, highlighting its areas of weakness and suggesting remedies.

Business start-up

Business start-up

As a new business you’re bombarded with advice from all sides – often of mixed quality. Consequently, finding reliable advice is a real breath of fresh air. Most people who start up in business do so because they have the combination of a good business proposition and the enterprise and commitment to see it through. Not because they are experts in the legal and financial aspects of running a business.

You’ll be aiming to harness your positive energy at this exciting start up phase. The last thing you want is to feel constrained by reams of daunting paperwork and cumbersome red tape. What you do need is the support infrastructure of a highly experienced team. That's where we fit in. Bring us your business ideas. We’ll act as a sounding board and help you evaluate them in a constructive and realistic manner. We think you’ll find our approach refreshing.

Our integrated business start-up services include:

  •     Deciding on the most suitable structure for your business -sole trader, trust, or private company
  •     Preparing a business plan, cash flow projections, budgets, and trading forecasts
  •     Assessing your finance requirements, advising on the best sources of finance, and drawing up       the necessary proposals
  •     Completing any registration procedures with CIPC and SARS
  •     Dealing with company secretarial issues
  •     Setting up a recording system for your internal use and for complying with statutory
        requirements

Car allowances

Car allowances and company vehicles have become the single biggest remuneration tax structuring tool for employees. Do you know what the optimal car allowance amount is that you should include in your remuneration package. Based on the value of your car and the kilometres that you travel for business and private purpose, we can tell you exactly how much your allowance should be, how much you can claim and even advise you of the optimum kilometres you should travel to claim the maximum refund. Similiary with company vehicles. Keeping of records and especially a accurate logbook is imperative. Contact a Taxco Tax professional today to get the right tax advice.

Charities

Charities

We have provided essential advice to numerous charities and Not-For-Profit organisations over many years.

Whether you are a large, national organisation or a small local club, we have the integral knowledge base to help you with your regulatory responsibilities and the day-to-day management of your affairs. Legislation and compliance issues are the subject of rapid and continuous change, with public accountability becoming seen as critical.

Our aim is to help with the burden of constantly changing rules and regulations and to keep you informed of your statutory responsibilities. The production of up to date management information is essential. We can produce this information for you or set up the compound elements, systems and controls to enable you to be self-sufficient.

Our integrated charity sector services include:

  •     Preparing annual report and audited accounts (statutory compliance)
  •     Advising office bearers and trustees of their duties and responsibilities
  •     Preparing management accounts, cash flows and budgets
  •     Strategic planning, business reviews and risk assessments
  •     Advising on VAT and Tax
  •     Handling bookkeeping and payroll

Company formations

Company formations

Business is about getting the chemistry right, formulating the optimum structure for operational success. We will help and advise you on the science behind company formations and limited liability entities. You’ll benefit from our specialist advice on management structures, banking and finance, shareholdings and those all-important shareholders' agreements – as well as accounting and control procedures.

Working as an integral part of your operations, we can also give you advice on your obligations under the Companies Act. We will arrange the formation of new companies and will deal with the entire combination of VAT, PAYE and Corporation Tax issues at inception. Plus, assist with your registrations with other regulatory bodies where necessary.

We’ll deal with routine company secretarial compliance matters and provide the company's Registered Office. In fact, we’ll handle everything under the sun – so you don’t have to. Pure simplicity.

Our integrated company formations services include:

  •     Providing specialist advice on company formations
  •     Implementing and documenting the formation
  •     Advising on the appropriate company structure
  •     Documenting shareholders’ agreements
  •     Establishing good banking and finance relationships
  •     Handling VAT, PAYE and Income Tax
     

Company secretarial work

Company Secretarial

Company secretarial work is a highly legalistic area that becomes ever more complex and time-consuming as the company grows. Moreover, failure to comply fully can lead to companies being struck off and even to the prosecution of directors.

Delegating this complex work to Taxco’s expert team lets you concentrate on your core business, secure in the knowledge that you are compliant. Depending on your specific needs, Taxco can take care of the whole job or just the more complex procedures.

Our professionals combine practical experience with technical knowledge of all relevant areas of regulation. We keep up-to-date with developments through regular contact with the CIPC and our membership of professional bodies. As a team, we are familiar with a wide range of industry sectors and services, understanding the specific needs of each.

Our company secretarial services include:

  •     incorporation of private, limited liability and non profit companies
  •     acting as company secretary through a nominee company
  •     acting as a registered office
  •     services for foreign investors, including advice on regulatory obligations in SA
  •     care and maintenance of statutory records for the full annual cycle
  •     preparation of annual returns, AGM minutes, filing of accounts and the maintenance of all            company registers
  •     preparation for and attendance at board meetings
  •     change of name, including ensuring the name is acceptable
  •     appointment and resignation of directors and secretary
  •     organisation of annual and special general meetings, including canvassing, counting proxy
        votes and holding a poll
  •     acting as scrutineers for a poll
  •     issue and allotment of new shares, including defining the rights attached to shares
  •     reorganisations - reduction of share capital, reduction of share premium account
  •     share transfers, including payment of STT and applications for relief of duty, administration of
        share option schemes
  •     purchase by a company of its own shares and financial assistance for purchase
  •     updating and drafting of special provisions in the Memorandum of Incorporation
  •     drafting shareholders' and members' agreements
  •     dissolutions and restorations
  •     company searches

Computer systems

Why you may need to upgrade your computer systems!

It is tempting to think that if your computer system is fulfilling its function upgrading it is an unnecessary expense, but technology is changing so fast that if you fail to keep up you might find that a competitor is able to do the same work at a much lower cost.

A superior computer system will allow you process more information more quickly. Here are some of the practical benefits this could provide for your business:

Increase your cash flow. -
You will be able to produce and send invoices more quickly. The earlier the invoice, the sooner you get paid, and the greater the interest on your cash funds.

Avoid duplication. -
Without thorough invoice checks, bills can sometimes be paid twice. The right software can prevent double entry or duplication problems by quickly and accurately verifying invoice numbers.

Improve your profitability. -
Timelier processing and reporting of information will allow you to detect problems, variations, and overruns in production. A superior computer system can give you progress and job cost reports on a daily basis, which might not be possible with outdated technology.

Monitor equipment and stock more accurately. -
A good system can help you track equipment and stock, enabling you to see which are the most cost-effective items so that you can make more informed purchasing decisions.

An up-to-date computer system, therefore, is vital if you want your business to remain competitive.

But do not fall into the trap of buying the first system that is offered to you. Proper consideration, planning, and identification of your requirements are essential if you want to be sure of buying the right system for your business.

Contact us for assistance to ensure you have the right hardware specifications and versions for the system that you envisage, making sure it can handle the workload and software for the proposed job.

Consulting

Taxco considers its role as an experienced and trusted advisor on issues of critical importance to your business: new start-ups, finance, operations and profit planning.

Our advisors can help you by delivering services that keep your business on the right track in an increasingly complex and rapidly changing environment.

If you want an objective opinion based on years of helping businesses similar to yours, you’ve come to the right place.  Relying on our experience in strategic planning, feasibility studies, information systems evaluation, outsourcing opportunity evaluations, estate planning, and mergers and acquisitions could be your best step toward greater success.

We can help you make logical decisions and avoid pitfalls that your business can do without.  When you retain our services, you can rest-assured that your business is in good hands.

Contracts, Forms and Templates

At Taxco we have developed many Contracts, Forms and Templates for use in South Africa over the past 20 years. Get instant access to these hundreds of business forms, templates, and contracts via the Taxco Shop online today. Find documents for almost every kind of business such as purchase orders, partnership agreements, loan agreements, applications, and bill of sale. Comprehensive Payroll Service. You can also browse our list by popular categories such as:

Taxco is not a law firm, and its employees are not acting as your attorney. Taxco does not practice law and does not give legal advice. This site is not intended to create an attorney-client relationship, and by using any of our documents, no attorney-client relationship will be created with Taxco. These are "SELF-HELP" legal forms that are provided on an "AS IS" basis with no warranties or guarantees, including all express, statutory and impied warranties of merchantability, firness for a particular purpose, title and non-infringement.

Taxco DOES NOT WARRANT THAT THE CONTRACTS, FORMS, TEMPLATES, THE CONTENTS OR ANY INFORMATION RECEIVED THROUGH THIS SITE ARE ACCURATE, RELIABLE, CORRECT, OR APPLICABLE TO YOUR SITUATION OR JURISDICTION. If you need personal assistance in deciding whether a document obtained from our site is right for you or desire representations and warranties upon the legality of a document in the jurisdiction you will be using it, we suggest that you contact an attorney. This website and any of our products are not a substitute for the advice of an attorney.

Corporate finance

Corporate Finance

Every corporate finance deal brings a specific set of challenges requiring specialist knowledge and experience. Taxco member firms provide businesses with corporate finance advice and support across a range of issues, drawing on the resources, expertise and experience of our clients and associates.

Choosing the right adviser to execute a corporate finance assignment efficiently, while protecting confidentiality, is the key to success. Clients need a full range of services - from company valuation to identifying and screening prospects. Knowing the pitfalls and potential problems, spotting and capitalising on strengths - while safeguarding against weaknesses - can make the difference between a successful and a poor deal.

Taxco member firms have considerable experience of selling businesses. They know how sensitive a disposal can be. Added experience as fund managers and corporate advisers, helps greatly in knowing what investors want to see in a proposal.

Specialists from within the Taxco network can identify investors and work with local or foreign advisers to conclude a transaction. They can also advise on the most suitable source of private equity and ensure support from foreign investors.

Corporate tax

Corporate Tax

Corporation tax compliance and advice is becoming increasingly complex in SA. With risk assessment for larger corporate taxpayers and constant changes to legislation, the need for a corporate tax adviser has never been greater.

Taxco provides a comprehensive range of services to corporation tax paying clients, including:
 

  • advice on the tax implications of any business decisions you are about to make
  • assistance with documentation and planning when undertaking major corporate change including,
  • property investment, new plant or machinery and business expansion at home or overseas
  • corporate tax advice on acquisitions, disposals, mergers, corporate reorganisations and demergers
  • negotiation with SARS on difficult matters of importance to your business and handling tax enquiries on your behalf
  • the provision of tax opinions on complex corporate matters
  • tax compliance services
  • outsourced tax services for businesses without dedicated tax resource or where you would like a particular project delivered externally.

Customer billing

Through our invoice services, we prepare highly professional, accurate and timely invoices for our clients' customers. These invoices are based on information provided by the client and all data is stored in a manner that allows our clients to access account balances, invoice history and other pertinent customer data.

Document OCR (Optical Character Recognition)

We convert any Pdf document to an searchable document or a editable Microsoft Word document. Amend, copy and paste the document contents or any section of a document as required into other documents. Search documents easily to find any information like, Id numbers, names etc.

Employee benefits

Employee benefits

The benefits package you provide can make the difference between you and your closest competitors when it comes to attracting and retaining employees. If staff are a key part of your business this is not an area that you can afford to ignore.

By fully integrating our tax, financial planning and HR specialists, Taxco provides advice across the full range of benefits from traditional ones such as pensions and protection, to more innovative flexible schemes and employee share schemes.

You may be experiencing high staff turnover or as a growing company provision of benefits may be new to you. You may even have acquired a business or staff that has brought legacy benefits that need assessing and integrating with your existing package. Whatever your business's circumstances, we offer expert consultancy services and advice that identify your needs and seek to provide and support innovative cost-effective solutions that employees will value.

We give independent advice that is based on sound tax, financial planning and HR expertise. We are not tied to any financial services providers or insurance companies and our service can be fee- or commission- based to suit your needs.

Employment taxes

Employment  taxes

Keeping up to date and ahead of new legislation and updating or developing company policy surrounding employment taxation, benefits and expenses is often difficult for Human Resources and finance departments.

So is developing and updating company policy on employment taxation, benefits and expenses.

Taxco's Employment taxes professionals can provide you with expert employment tax advice to suit your needs, however complex they may be.

Our experienced but friendly specialists can help you meet your compliance requirements and deal with the ever-increasing burden of complex tax (e.g. PAYE) and UIF, SDL and WCA levies and legislation.

We can support you by providing a wide range of tax-based services, advice and packages on employment tax related issues or if you ever have to negotiate with SARS.

You can also save time and reduce the risks by letting Taxco’s payroll team manage the payroll for your business on a day to day basis leaving you free to develop your business.

Estate planning

Estate planning

Few of us like to think about our very last breath, but equally few of us could live with the thought that we’ve not made adequate provision for the family and friends who are still living and breathing. The legislation that governs passing on your estate to your chosen beneficiaries requires you to plan well in advance. No-one knows when they are going to pass away - here’s how you can keep your estate planning agenda alive.

The earlier you make the arrangements, the greater your chance of taking full advantage of the tax opportunities available - thereby maximising the amount that goes to your beneficiaries. Nothing is more demoralising than the thought that a substantial slice of the wealth you have worked hard to accumulate will end up in the Government's coffers!

It is equally important when planning to transfer your estate that you make adequate provision for yourself and your spouse in your later years. Striking this balance calls for considerable skill and foresight - and a detailed knowledge of all the elements of the tax regime.

    Our integrated estate planning services include:

  •     Reviewing your will
  •     Making full use of exemptions and lower tax rates on lifetime transfers
  •     Optimising lifetime transfers between spouses
  •     Transferring agricultural or business property
  •     Arranging adequate life assurance to cover potential inheritance tax liabilities
  •     Transferring assets into trust

Family business services

Family Business Services

Family businesses are renowned for their entrepreneurial and innovative spirit and are a key driver for SA enterprise. At Taxco, we help family businesses and business families to grow and develop through the generations and therefore realise their full potential. Our professionals have many years experience in advising family businesses operating across a diverse range of sectors.

No two families are the same – nor is the commercial environment in which they operate. Our experience means that we appreciate the unique challenges and needs that family businesses have, whilst our impartiality helps to support organisations to solve any differences that may arise. Through a tailor-made service that is unique to your business we devise solutions that reconcile the separate requirements of the family and the business both in the short and long-term.

Taxco can help you, your family and your business to achieve your objectives and overcome challenges as they arise by drawing on this wealth of experience.

Financial planning

Financial planning

A reputation built on results

Since the formation of our financial services company in 1997 and operating under license FSP10754 , our reputation for offering professional, impartial financial advice to companies, individuals and partnerships has grown steadily. This is due in no small part to the impressive results which we consistently achieve for our clients.

Our philosophy is to combine a professional approach with innovative financial planning advice. Our staff and associates are among the most experienced in the industry, committed to understanding your financial requirements and using our skills to assist in the planning, growth and development of your business.

As we are independent, our clients enjoy financial advice that is free from bias. Unlike many other financial services companies, we are not 'tied' to promoting products from only one company. This leaves us free to provide both the best possible advice and the very best products.

Foreign investors

Foreign Investors

If you are based overseas and are building your operation in South Africa, Taxco’s range of services for foreign investors can help you overcome the many challenges involved.

We can prepare:

    multi-currency management reports under SA GAAP or IFRS for SME's
    year-end SA statutory accounts
    timely reports for inclusion in the group accounts

We can handle:

    VAT registration
    completion of quarterly or monthly returns
    payroll and submission of IRP reconciliations

We can provide:

    advice on transfer pricing
    expert guidance on direct and indirect global tax planning issues
    company secretarial services.

South Africa provides a rewarding environment for overseas investors. Taxco can help you reap the maximum benefit.

Forensic services

Forensic services

Taxco is one of the leading firms of accountants and business advisers in the SA providing a full range of forensic accountancy, litigation support services, investigatory and expert witness services including business intelligence and forensic IT on a national basis.

We offer a different approach, team structure and cost efficiency to our competitors while still delivering robust advice and expert evidence based on the breadth of our experience. Where we really differ is the level of client service. Our approach is focused and proportionate, quickly identifying the critical aspects and ensuring you can make informed decisions in a dynamic dispute resolution and investigatory environment.

Our forensic and litigation professionals have considerable experience of acting in commercial disputes, fraud and financial investigations; professional negligence actions; asset tracing and money laundering investigations; competition and regulatory enquiries; cartel and corruption investigations. Whether the proceedings are issued in the High Court or in the Criminal Court, Taxco has the experience to advise.

Whether a local dispute with a contractor or employee, or a multi-jurisdictional investigation, Taxco has the resources and experience to react quickly and cost effectively to assist in resolving the dispute.

Government & Not-for-profit organisations

Government & Not-for-profit organisations

The needs of government and not-for-profit organisations often differ from those required from profit making organisations. This said, the not-for-profit sector still requires advisers with skills honed in the commercial world if they are going to perform well.

Taxco's member firms have wide experience of advising and assisting government and not-for- profit agencies on various accounting, management and document solutions.

Management reporting

Management reporting

In any business, key financial decisions by management must be based on hard data. This makes it vital to have effective management reporting.

We can set up your chart of accounts to ensure that you receive the correct management reports when you need them. We can prepare management accounts quarterly or monthly as appropriate. We can prepare VAT returns based on these reports and assist with the preparation of financial projections. We can also prepare year-end accounts for you, with a fully cross-referenced working paper file ready for submission to the auditors.

Our diverse sector experience means we can also offer you added-value commentary based on variance analysis. With Taxco, your management’s decisions will always be fully informed.

Mergers and acquisitions

Mergers and acquisitions and mergers

Taxco offers a comprehensive range of services to support clients in the planning and execution of acquisitions and mergers as follows:

    Reactive search – we use our national network to identify opportunities supplemented by counterparts across the network of legally
    independent Taxco firms, and through networking with other trusted intermediaries

    Proactive search – we research potential acquisition targets and approach them on your behalf to engage them in preliminary
    discussions. Our searches are conducted using databases as well as internal and external networks

    Full deal support role – once an acquisition or merger target has been identified, we can support you through the whole process. This
    will include initial negotiations/investigation, pricing advice, agreeing the structure of the deal, due diligence, negotiation of the
    acquisition agreement and working with your lawyers and other advisors until the deal is completed.

Areas where we add particular value in the process are as follows:

    Initial support in exploring strategic options
    Identification of targets using our extensive internal and external networks
    Assistance in negotiations
    Assisting in the due diligence process
    Project management support so you can focus on running your business
    Post acquisition support

Monthly Processing and Reporting

Monthly Processing and Reporting

Management reporting - In any business, key financial decisions by management must be based on hard data. This makes it vital to have effective management reporting.

We can set up your chart of accounts to ensure that you receive the correct management reports when you need them. We can prepare management accounts quarterly or monthly as appropriate. We can prepare VAT returns based on these reports and assist with the preparation of financial projections. Based on these monthly records we can also prepare year-end accounts for you.

Our diverse sector experience means we can also offer you added-value commentary based on variance analysis. With Taxco, your management’s decisions will always be fully informed.

Payroll

Payroll

Our payroll consultants will help you negotiate a highly complex area of law that has strict penalties for failure to comply. We take care of all the forms and paperwork, organising our schedule to meet your timescales and ensuring that deadlines are met.

Taxco produces a market-leading payroll software package that makes EMP submission faster, easier and more streamlined, and is designed to integrate with your existing accountancy and HR software.

Managing the payroll for your business takes time, care and experience. Getting it wrong upsets employees and brings a risk of tax penalties. With Taxco's professional payroll team to do it for you, you save time, reduce the risks and gain more freedom to develop your business.

We manage the payroll function for a wide range of clients across many business sectors and not-for-profit organisations from our national head office in Bloemfontein. We use tried and tested checking and validation methodologies to identify problems and deal with them and have the resources to analyse the impact of regulatory and legislative changes as they arise. Our procedures and processes ensure that our clients' payroll function is managed cost-effectively, remain up to date, and are both robust and compliant.

Delegating some or all of your payroll responsibilities does not mean yielding control of your payroll function – you can choose exactly the level of support you need.

You may choose stand alone services such as validating data, calculating tax payments, preparing high quality payslips and arranging payments on your behalf, or a full outsourced payroll function. We will agree formal service levels with you setting out exactly how and when the service is provided.

However complex it may seem, we make payroll a breeze. Fast, efficient and cost effective, we work for businesses of all sizes: ranging from sole traders with only one or two employees, to large companies with many staff and a substantial payroll function.

Our professional bureau service forms the nucleus of our clients’ payroll solutions. Even if you have someone in-house to manage your payroll function, we still offer a value-for-money formula, helping you review and improve your present systems.

Our integrated payroll bureau services include:

  •     Removing administrative burdens and reducing overheads
  •     Enhancing speed and efficiency
  •     Driving cost-conscious, affordable results
  •     Accommodating sudden change
  •     Providing assistance via telephone or on-line
  •     Qualifying for Government financial incentives


Payroll Service Components

  •     Payroll intervals to suit your business (weekly, monthly, variable) including overtime and
        bonus/commission and loan calculations
  •     Cash breakdowns by profit/cost centre, department, activity, business unit, or other analysis
  •     Full payroll listing, meeting legal obligations
  •     Link with Bank Automated Payment Service
  •     Comprehensive employee records
  •     Personnel and pension schedules
  •     Detailed open and/or security payslips
  •     Statutory form maintenance – six monthly reconciliations, year-end tax returns, IRP5's & IT3's
  •     Informative reports and well explained analyses coupled with prompt service at all times

Your employee data will be treated with the utmost confidentiality. Both our practical procedures and our secure IT systems ensure it is protected.

Payroll taxes - Risk assessments

PAYE/UIF/SDL Risk Assessment

When was the last time SARS carried out an Employer Compliance review on your business?

PAYE compliance covers all areas of employment tax; PAYE, Uif and SDL, benefits and expenses, unapproved share schemes, filing and reporting obligations etc.

A PAYE risk assessment carried out by one our professionals can identify areas of risk and make recommendations to put things right. Where irregularities are discovered and a disclosure to SARS is required, we will work towards mitigating the potential liability.

Getting things wrong can be extremely costly for your business.

What we can provide

Our PAYE risk assessment can be a:

    full assessment covering all aspects of employment tax
    a review on a specific area.

The full risk assessment will be similar to a review carried out by SARS. However, our emphasis will be to identify and reduce the risk areas, mitigate as much as possible any disclosures to SARS and ensure compliance measures are put in place for the future.

Examples of the areas we can review are:

    the overall operation of PAYE
    the reporting of benefits in kind on payslips
    the correct treatment of entertainment expenses in particular staff only entertaining
    termination payments and pay in lieu of notice
    travel expenses (both in the RSA and abroad)
    operation of the Unemployment Insurance Fund Scheme
    the correct status of workers (employed, casual or independant contractors)
    the reporting requirements for both approved and unapproved share schemes.

Alternatively, we can review any specific area as directed by you.

Report
On conclusion of our review we can provide you with a full written report or verbal feedback in anticipation of any subsequent presentation of our findings.

Private tax client services

Private Tax Client Services

Personal tax needn’t be taxing. With the tax regime becoming more complex and more emphasis being put on taxpayers' individual responsibilities, everyone who is subject to taxation needs professional advice and support.

At Taxco we hope you’ll find our approach refreshing - we optimise your tax position and ensure you meet all the compliance requirements.

Every Rand of income tax you save means more income at your disposal, every well planned disposal of assets means minimal loss to capital gains, and every estate duty saving means more wealth for your beneficiaries. Let us take a fresh look at your personal tax issues and turn them into opportunities.

Our integrated tax planning services include:

  •     Providing year round tax advice
  •     Advising on Income tax
  •     Managing Capital Gains tax requirements
  •     Planning Inheritances and Estate duty
  •     Arranging trusts and advising on estates
  •     Handling non-domiciliary tax issues

Managing your finances efficiently involves more than simply completing your personal tax return on time. No matter how complex your personal tax situation may be, we will help you understand the issues and explain your options.

We can advise you on the impact of your tax residence and domicile status and the many changes to the rules that are due to take place.

South Africa's capital gains tax and entrepreneurs’ relief rules have changed frequently in recent years but we can guide you in the tax-efficient use of trusts and other vehicles and realising your assets at the lowest tax cost.

We have the experience and expertise to help you make the most of your wealth.

Registered office or Address for Clients

You can utilise Taxco's office address as your business's official Registered office. This entails that we:

  •     Keep and safeguard your company registration documents.
  •     You have a managed post box address: PO Box 220, Bloemfontein, 9300
  •     You have a professional physical address: Taxco House, 81 Zastron Street, Bloemfontein, 9301
  •     We will receive your official mail, screen all the junk mail and forward the important notices on to you and/
        or communicate the contents thereof to you.
  •     We will receive summonses on your behalf and forward them on to you, saving you any embarrassment.
  •     You may utilise one of our secure offices for SARS  to inspect your accounting or other records, so as not
        to disturb your staff and day to day operations at your normal place of business.
  •     We will protect your identity and only make your company information available to authorised parties.

Having Taxco be your Registered office gives you a professionally run postal address, saves you time, and ensures you get that important message.

Retirement strategies

Retirement strategies

There is life after work. It is said that life shouldn’t be measured by the number of breaths you take but by the number of times your breath is taken away. Live it to the full.

Everyone hopes to maintain the same standard of living in retirement that they presently enjoy while working, but to achieve this requires considerable forward planning. Get it right and the sky’s the limit.

Take a deep breath and consider the vital questions:

Exit strategies

Last things first. If you’re in business, the first thing you need to consider is your exit strategy. Will you withdraw from the business, leaving it for the next generation, or do you hope to sell it? If you intend to hand the business over, do you have a workable succession plan? If you plan to sell, how will you value the business and find a suitable buyer? Are you aware of all the tax implications of the timing of disposals?


Pension provision

Have you made adequate pension provision, and do you have the right type of pension? Are you aware of all the pension possibilities open to business owners and directors? Are you making full use of all your allowances?


Savings and investments

Do you have the right balance between savings and investments, and between high and low risk exposures?


Life assurance and long-term care

Do you have adequate life assurance, and have you made provision for long-term care and medical insurance for you and your spouse in your later years.

We can help you answer all these questions and recommend solutions tailored to your particular needs.

Our integrated retirement strategy services include:

  •     Arranging exit strategies
  •     Advising on tax allowances
  •     Business valuation
  •     Planning pension provision
  •     Advising on savings and investments
  •     Arranging life assurance and long term care
     

SAIPA Training Centre Accreditation and Monitoring

A registered FASSET moderator or assessor at Taxco can assist you with your application as an SAIPA Accredited Training Centre (ATC). We will give you the necessary guidance, advice, examples and templates of what is required to prepare for and to ensure that your practice passes the Accreditation visit with flying colours. We have further assisted many learners with RPL (Recognition for Prior Learning) applications and monitoring visit issues. The SAIPA ATC Learnership Guide is a comprehensive document and will take the pactioner and learner uite some time to work through. Cut to the chase and Contact us today to save you time and take the guesswork out of the SAIPA learnership program.

SARS Investigations

SARS Investigations

SARS is on record as stating that it wants to ensure everyone pays the maximum "right amount of tax" so it is getting tough with non-compliant taxpayers and rapidly increasing the powers of Tax Inspectors. No one can afford to be complacent.

Our highly-trained professionals are experienced in dealing with all forms of tax investigation and have detailed knowledge of the respective rights and powers of the taxpayer and SARS.

The VAT man cometh

One of life's certainties is that if you are a VAT registered business, sooner or later you will receive a visit from SARS.  VAT audit, or 'compliance' visits, as SARS prefers to call them, are an integral part of the system. Their main purpose is to ensure that your returns are an accurate reflection of your business activities and VAT liability. Every trader can expect a visit every few years as a matter of course.

We can help you avoid unnecessary cost and inconvenience by:

  •     Checking that your VAT summaries agree with your returns
  •     Reviewing non-routine operations such as large or unusual transactions, where mistakes are more likely to occur
  •     Reconciling your disclosed turnover with your annual accounts
  •     Simplifying your procedures by arranging with SARS for your VAT audit to harmonise with your business activities
  •     Minimising penalties and interest charges by sorting out any errors we detect with SARS

However, their frequency is by no means predictable. You may find yourself singled out at any time if:

    You have a history of poor compliance
    There has been a change in the pattern of your VAT returns
    Your business is seen as high risk (e.g. a cash business)

Don't be caught out

The cost of being caught unawares by a VAT audit can be considerable. You could find yourself facing:

  •     Hours of valuable time wasted
  •     Extra costs incurred in sorting out all the paperwork
  •     Potential penalties and interest charges
  •     The possibility of a follow-up enquiry by SARS

A VAT audit visit usually has two parts:

It begins with an interview, during which the Vat inspectors will seek a broad understanding of your accounting system and general commercial activities. He or she will be looking for possible areas of weakness in your accounting records.

During the second part, the officers will examine your records to ensure that you have completed your returns correctly. Constraints of time will mean that he or she will probably focus on sensitive areas identified during the original interview.

If you are not prepared, or if you are not sure of your facts, a visit can be a daunting experience. We can make your life easier by attending the meetings and assisting with answering the questions. This could save you considerable time, expense, and inconvenience. As with most other things, a professional helping hand in this area can add real value to your business.

Do contact us if you would like further help or advice on this subject. We can guide you through the process and negotiate directly with SARS to ensure that tax, interest charges and penalties are minimised.

Strategic planning

Strategic planning

Planning ahead is essential. With many businesses, the chances are that the day-to-day pressures mean that strategic planning is not given the attention it deserves. The result can be rushed judgements, over- or under-capacity, or missed opportunities. However, in a busy environment, how do you possibly make a window?

A Taxco planning review makes it easy. Our planning advisers have the time and the space to take the long view and advise on appropriate courses of action before it is too late. It is vital to take an elevated view on your business strategy where the whole picture becomes clearer. With years of experience advising the local business community we have a wealth of experience and expertise for you to draw on.

Our integrated strategic planning services include:

  •     Providing an independent perspective
  •     Focusing on what matters
  •     Analysing the issues
  •     Asking the right questions
  •     Making considered recommendations
  •     Planning practical solutions and actions

Taxation in business

Taxation in Business

Businesses face the increasing pressure of ever more rules and regulations, with business tax complexities often consuming a large amount of management time and effort. We will help you incorporate tax efficiency into your business planning and decision-making to put you in control of tax costs and generate long term savings.

We realise that managing your tax compliance burden efficiently can have a significant impact on your business. Whether you outsource your business tax processes to us completely or simply need advice to help you streamline the paperwork and deal with specific issues, we can deliver the quick, efficient service you need.

When the tax issues seem complex you will find our business tax advice and solutions relevant, practical and cost-efficient.

Trusts and executorships

Trusts and executorships

Trusts are purely and simply a very tax efficient way to set aside assets for future beneficiaries outside of the estate duty tax net.

There’s a lot to take in. We can advise on the most suitable type of trust for your purposes, set up trusts, and provide a full range of accounting services for trusts. We can also advise you on the preparation of your will. Where appropriate, we can act as trustees or executors, breathing additional financial security into the lives of future generations.

Our integrated trusts & executorships services include:

  •     Considering all aspects of your financial situation
  •     Arranging administration
  •     Implementing tax efficient solutions
  •     Advising on types of trusts
  •     Assisting with the preparation of wills
  •     Advising on all aspects of estate planning

Valuations

Valuations

Business valuations are required for a variety of reasons and can range from simple illustrative valuations to more sophisticated valuations using complex financial modelling.

The key questions to consider in most valuation exercises are as follows:

1. For what purpose is the valuation being prepared?
2. At what point is an entity being valued?
3. On what basis is the entity to be valued?

Our professionals are experienced in working with clients in determining the options available in connection with valuation assignments so that the appropriate scope of work can be agreed. Some examples of the type of valuation work we get involved in are detailed below:

    Business valuations in connection with a proposed acquisition
    Business valuations in connection with a proposed divestment
    Expert determination valuations
    Shareholder dispute valuations
    Merger party valuations
    Share option valuations

VAT planning and compliance

VAT planning and compliance

Are you confident you would recognise the VAT implications or opportunities that arise from a change in your business activities? With our help you can.

VAT rules permeate every part of most businesses: our professionals will help you analyse your business to identify risks and tax-saving opportunities to reduce costs and improve your cash flow.

From advice on VAT registration to tax planning, the highly complex rules covering subjects such as international services, land and property, business acquisitions and disposals, our VAT team provides practical, cost-effective solutions.

Value added tax is one of the most complex and stifling tax regimes imposed on business - so complex that many businesses inadvertently overpay or underpay VAT.

The ever widening scope of VAT, the constant stream of detailed changes to the regulations, and the ever growing demands of Customs and Excise call for a trained professional eye to ensure that you do not fall foul of the regulations and do not pay SARS more than you need to.

The solution is elemental. There’s a far easier way to relieve VAT fatigue through a supply of perfectly balanced advice from Taxco.

Our integrated VAT planning and compliance services may include:

    Assisting with VAT registration
    Advising on VAT planning and administration
    Using the most appropriate VAT system
    Reconciling VAT and control measures
    Helping with the completion of VAT returns
    Planning to minimise future export/import problems with Customs and Excise, including dispute resolution and
    representing you during VAT investigations.

Wealth planning

Wealth planning

Wealth Planning merges the disciplines of retirement planning (accumulation) and estate planning (distribution).

It addresses the three most critical issues facing high net worth clients:

1. Creating, growing, and preserving wealth. (Will I have enough during my life?)
2. Planning for the use of wealth during life. (Where will the money come from to support my lifestyle and other objectives?)
3. Planning for the distribution of wealth at death. (Who gets what when I die?)

Like becoming physical fit, your financial progress will be much faster and efficient with on-going personal coaching. At Taxco, you will be given the opportunity to meet with a professional to keep you on track to a healthy financial future. We provide a Financial Wealth Analysis during your consultation in which you and your personal wealth planner will be talking the same language.

We can tell you about the cost effective financial services that give you the most benefit. When it comes to building an Investment Portfolio, or cutting the cost of your assurance, contact us, we've got the answers to help.

Wills and testaments

Wills and Testaments

What are Wills?

We all do our best to prepare for the future. From purchasing insurance policies that protect our assets and health to investing for our retirement we routinely make decisions that will affect our future. But what about making sure your family is provided for in the event of your death? Few of us like to think about our end of days, but it is important to have your affairs in order to ensure that your loved ones are cared for and your assets are distributed or maintained in the way that you intend.

There are two main vehicles for protecting your assets and providing for your loved ones after your death:

    wills and
    trusts.

A trust enables you to create a separate legal entity to protect your property and assets from probate, taxes and public scrutiny. Trusts may be established while you are living or upon your death as set forth in your will. The type of trust you establish will determine how much control you have over the property that you place within it. An experienced lawyer can explain the various types of trusts available to you and help you choose the best way to protect your property (see Estate Planning for more information on trusts).

A will is a legal document that allows you to name a guardian for your child and specify who will inherit your property after you die. Without a will, you will have no say in what happens to your property. An experienced wills and trusts lawyer should be able to advise you in all of your estate planning needs with the foresight and precision writing a will demands.

If you need help establishing a trust or creating a will that will not be deemed invalid or delay the disbursement of your property, Contact Us. From simple wills, pour-over wills, living wills, testamentary trust wills and holographic wills to trusts and other estate planning tools, a wills and trusts professional at Taxco can help you make the decisions that will benefit your loved ones the most.

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