April 2026 Newsletter | Tax, SARS Compliance & Business Advisory Insights
APRIL 2026
WORD FROM OUR CEO
In today’s rapidly evolving regulatory and business environment, financial compliance and sound governance have become more important than ever. Businesses are required not only to manage their finances effectively, but also to ensure that they meet the growing number of regulatory requirements imposed by authorities.
In this edition of our newsletter, we highlight key topics that affect many businesses: the role of internal and external accountants, the importance of meeting SARS compliance deadlines, and the requirements for beneficial ownership submissions with CIPC. Each of these areas plays a critical role in maintaining a compliant, transparent, and well-managed organisation.
Choosing the right accounting structure, whether through internal capacity or external professional support, can significantly improve financial oversight and decision-making. At the same time, staying ahead of tax deadlines and regulatory submissions helps businesses avoid penalties and maintain good standing with authorities.
Our team remains committed to supporting our clients with practical guidance, reliable compliance support, and strategic financial advice. By working together, we can help ensure that your business not only meets its regulatory obligations but is also positioned for sustainable growth.
Thank you for your continued trust and partnership.
ACCOUNTING / FINANCE
Internal vs External Accountant: Which One Does Your Business Need?
Many businesses reach a stage where they need professional financial support. A common question is whether to appoint an internal Accountant or use an external Accountant. Understanding the difference can help business owners choose the right option for their needs.
An internal Accountant is an employee of the business who works within the company on a daily basis. Their role usually includes managing bookkeeping, processing transactions, preparing monthly financial reports, managing payroll, and assisting management with budgeting and financial planning. Because they are part of the organisation, internal Accountants often have a deep understanding of the company’s operations and can provide immediate support to management.
An external Accountant, on the other hand, is an independent professional or firm that provides accounting services to multiple clients. External Accountants typically assist with annual financial statements, tax compliance, VAT submissions, independent reviews, and strategic financial advice. They also ensure that the business complies with regulatory requirements and accounting standards.
Both options have their advantages. Internal Accountants provide day-to-day financial oversight, while external Accountants bring independent expertise, broader industry experience, and compliance assurance. For many small and medium-sized businesses, using an external accounting firm can be a cost-effective solution because it provides access to specialised knowledge without the cost of employing a full-time accountant.
In practice, many growing businesses benefit from a combination of both: an internal team handling daily financial administration, supported by an external accounting firm for compliance, tax planning, and advisory services.
Final word
Choosing the right structure depends on the size of the business, the complexity of transactions, and the level of financial oversight required. Consulting with a professional accounting firm can help determine the most efficient and compliant solution for your business.
TAXATION
SARS Compliance Deadlines: Staying on Track
Meeting South African Revenue Service (SARS) deadlines is an essential part of running a compliant and financially healthy business. Tax compliance is not a once-off task but an ongoing responsibility, and missing deadlines can result in penalties, interest, and unnecessary administrative challenges. Businesses should therefore be aware of the main tax obligations and their respective submission dates.
Income Tax
Companies are required to submit an annual Income Tax Return (ITR14) a year after the end of their financial year. In addition, companies must make provisional tax payments twice a year using the IRP6 return. The first provisional payment is due six months after the start of the financial year, and the second payment is due at the end of the financial year. A third voluntary top-up payment may be made within six months after year-end to avoid interest charges.
Value-Added Tax (VAT)
Businesses registered for VAT must submit VAT201 returns according to their assigned VAT category, usually every two months. These returns and payments are generally due by the 25th of the month, or the last business day of the month when submitted via eFiling.
Payroll Taxes (PAYE, UIF and SDL)
Employers who deduct payroll taxes must submit the EMP201 return and make payment for PAYE, UIF and the Skills Development Levy (SDL) on a monthly basis. These payments are due by the 7th of the following month. In addition, employers must submit EMP501 reconciliations twice a year during the interim and annual reconciliation periods.
Dividends Tax
Companies declaring dividends must withhold Dividends Tax and submit the DTR02 return. The tax must be paid to SARS by the end of the month following the month in which the dividend was paid.
Final word
Keeping track of these deadlines is critical to maintaining good standing with SARS. Many businesses rely on their accounting firm to monitor submission dates, ensure accurate reporting, and prevent costly penalties. Proactive tax compliance not only avoids risk but also contributes to better financial planning and business stability.
BUSINESS ADVISORY
CIPC Beneficial Ownership Submission Requirements
In recent years, the Companies and Intellectual Property Commission (CIPC) introduced Beneficial Ownership (BO) reporting requirements for companies in South Africa. These regulations form part of the country’s efforts to improve transparency and combat financial crimes such as money laundering and fraud.
A beneficial owner is the natural person who ultimately owns or exercises effective control over a company. This may include individuals who directly or indirectly hold 5% or more of the company’s shares, voting rights, or who otherwise have significant influence over the company’s decisions.
All companies registered in South Africa are required to file beneficial ownership information with CIPC. This information must be submitted through the CIPC online system and must identify the individuals who ultimately benefit from or control the company.
Companies are required to submit beneficial ownership information in the following situations:
Upon company registration
When filing annual returns
Whenever there are changes to the company’s beneficial owners
Failure to submit or update beneficial ownership information may result in non-compliance with CIPC regulations, which can affect the company’s status and ability to remain in good standing.
Businesses should ensure that their records of shareholders and controlling persons are accurate and up to date. Working with a professional accounting or advisory firm can assist companies in identifying beneficial owners correctly and ensuring that all CIPC compliance requirements are met.
Final word
Maintaining proper beneficial ownership records not only ensures regulatory compliance but also strengthens corporate governance and transparency within the business environment.
