Our Services
What We Do
Accounting
The accountant’s relationship with a client borders heavily on integrity, professionalism and honesty and as such the accounting profession is highly regulated through various statutes and standards enacted and issued by the government and the International Accounting Standards Board (IASB) respectively. To ensure quality, reliable and professional service to our clients, our practitioner is a registered member of the Southern African Institute for Business Accountants (SAIBA).
As outsourcing consultants, we take over your entire accounting function thus freeing up time and resources for you to take the backseat and focus on growing your business. We offer accounting services at all levels from bookkeeping to annual financial statements including monthly management reports, inventory accounting and cost analysis, amongst other services. At Gloworth Consulting, we have the knowledge and experience base to prepare quality financial statements that are wholly compliant with the dictates of both the Companies Act and the International Financial Reporting Standards. Part of our job is to stay up-to-date with the legal and regulatory framework and any changes thereto on your behalf so that we can be able to prepare financial statements that you won’t have any qualms with when presenting to any stakeholder.
We save our clients in costs of acquiring and renewing software, training of their staff to use the software and time so that they can only worry about running their businesses. We prepare financial statements for all forms of business ownership, be they companies, close corporations, partnerships, sole traders, trusts or non-profit organizations in a manner that keeps you abreast of the precise financial state of your business.
Taxation
It is often said that the two certainties of life are death and taxation and through experience and practice we have coined the latter certainty into one of our specialized areas. At Gloworth Consulting we believe in the administration and management of corporate tax as a core business discipline itself and our multidisciplinary nature gives us the edge to provide you with a multiplicity of excellent and well researched advice ranging from acquisitions and disposals right through to financing and year-end tax accounting. Saving our clients money in tax bills and penalties, thus improving their cash-flow is our source of pride. We have a dedicated practitioner (registered with the South African Institute of Tax Professionals under practice number 19500479), committed to giving you the latest and up-to-date tax information, relevant and applicable to your unique needs whether you are a company or an individual. We are experts in different types of taxes including:
CORPORATE TAX
- Acquisitions and disposals of fixed property (Wear and tear allowance and Capital Gains Tax)
- Donations of property (Donations tax)
- Research and Development Allowance
- Learnership Allowance
- Commercial property transactions (Transfer duty)
- Taxation of farming income
- Patent/ Intellectual property allowances
- Income tax compliance and administration (Tax registrations and compilation and filing of provisional tax and IT14 returns.)
- Tax clearance certificate
INDIRECT TAX
- VAT compliance and administration (Registrations and timely compiling and filing of VAT201 returns.)
EMPLOYEES’ TAX
- Pay-As-You-Earn (PAYE) compliance and administration (Registrations, timely compiling and filing of EMP201 returns and submission of annual and interim employer reconciliations-EMP501.)
PERSONAL INCOME TAX
- Compilation and filing of IT12 returns.
- Estate duty
- Donations tax
- Capital gains tax (CGT)
Payroll
Gloworth Consulting also offers a complete outsourced payroll solution that is always up to date with the latest legislation in the following payroll fields:
- Monthly compilation and filing of EMP201 returns in respect of Pay-As-You-Earn (PAYE.)
- Submission of annual and interim EMP501 returns and the IRP5/IT3(a) for the Employer Reconciliation process.
- Monthly compilation and filing of UI19 returns with the Department of Labor in respect of the Unemployment Insurance Fund.
- Compilation and submission of annual COID declaration forms with the Compensation Commissioner and assistance with compliance with the Compensation for Occupational Injuries and Diseases Act.
- Monthly, fortnightly and weekly payroll processing and issuing of your employees’ pay slips.
- Assistance with compliance with the Basic Conditions of Employment Act (BCEA) by preparing employment contracts for your employees, attendance registers and setting up the payroll system to comply with the dictates of the afore-mentioned statute (BCEA).
Company Secretarial Services
The promulgation of the Companies Act 71 of 2008 brought with it the prohibition of new registrations for close corporations but existing close corporations will continue to exist in their current status and conversion from close corporation status to a company is, however, still permissible.
We help our clients with company registration and other secretarial duties including corporate governance best practice. We will complete professionally all the necessary documentation required by the Companies and Intellectual Property Commission (CIPC) for the registration of your company and spare you all the red tape.
DOCUMENTS TO HAVE YOUR COMPANY REGISTERED WITHIN THREE DAYS:
- Certified copies of shareholders’ IDs
- Preferred/proposed company’s name
- Nature of business
- Future company address
B-BBEE CERTIFICATES
As accredited accountants we also issue out EME B-BBEE certificates to Exempt Micro Enterprises, that is, those companies with annual turnover of less than R10 million.