Directors who are not compliant with their legislated duties (which were amended again recently) face serious consequences, including civil liability and criminal liability that could result in fines and even prison time – or both. Find out here what director duties entail, and how we can help you to understand and comply with these increasingly onerous obligations.

The first Guideline for 2025 issued by the CIPC (Companies and Intellectual Property Commission) aimed to “sensitise directors on the consequences for non-compliance with their duties to a company.” Here’s a quick overview of these duties and what could happen if directors don’t comply.

What are the duties of directors?
A director must exercise the powers and perform the functions of a director:

• In good faith and for proper purpose
• In the best interest of the company
• Without using the position to knowingly cause harm to the company
• With the degree of care, skill and diligence that may reasonably be expected of him/her         

This means that directors should carefully understand the provisions of the Companies Act that relate to the governance of companies, including, but not limited to:

• Section 75: Directors’ personal financial interests
• Section 76: Standards of directors’ conduct
• Section 77: Liability of directors and prescribed officers
• Section 78: Indemnification and directors’ insurance
• Section 213: Breach of confidence
• Section 214: False statements, reckless conduct and non-compliance
• Section 215: Hindering administration of the Act  

Recent amendments
In the last few months, amendments to the Companies Act have introduced significant new changes that have further increased the responsibility and risk that directors shoulder. Focusing on accountability, transparency, and alignment with international governance standards, the changes include stricter fiduciary duties to prioritise company and stakeholder interests, mandatory transparency in director appointments, and new director criteria disqualifying individuals with a record of insolvency, criminal convictions, or prior misconduct from serving as directors.      

Consequences of non-compliance: Civil liability
The Companies Act emphasises that a director of a company in his/her personal capacity may incur civil liability for loss or damage incurred by the company due to the director:

• Acting on behalf of the company without the necessary authority
• Trading recklessly or under insolvent circumstances
• Being a party to an act or omission by a company calculated to defraud
• Being a party to false and misleading financial statements
• Being a party to a prospectus or written statement that contains an untrue statement
• Failing to vote against an unauthorised or inconsistent provision of the Companies Act during a meeting or decision-making process

In a recent High Court case, the court found that directors of a property fund had grossly abused their positions and engaged in reckless conduct that severely harmed the company. The judge declared these directors delinquent and ordered them to compensate the fund for losses incurred due to their actions, including the costs of forensic investigation and reputational harm. A delinquency declaration can also result in a ban from holding directorships for a specified period or even permanently, as it did for SAA’s Chairperson Duduzile Myeni. 

Consequences of non-compliance: Criminal liability
A director may be also held criminally liable in his/her personal capacity in terms of various sections of the Act for:

• Disclosing confidential information concerning the affairs of any person obtained in carrying out any function in terms of the Companies Act
• Falsification of the company’s accounting records
• Trading recklessly or under insolvent circumstances
• Providing false and misleading information
• Being party to an act or omission by a company that is calculated to defraud
• Being party to a prospectus or written statement that contains an untrue statement
• Failing to satisfy a compliance notice

Some of these contraventions may result in a fine or imprisonment for a period not exceeding 10 years (or to both a fine and imprisonment) while others carry lesser (but still nasty) penalties.         

Don’t be fooled: Insurance won’t always save you
A “Directors and Officers Liability” policy protects directors against claims arising from decisions made in their official capacity. However, breaches of fiduciary duty, dishonesty, fraud, criminal acts and wilful misconduct are common policy exclusions. 

In addition, Section 78 of the Companies Act clearly sets out the requirements of indemnification and directors’ insurance. Even so, the CIPC says that directors of companies often fail to fully appreciate the requirements of this section: there are loads of requirements to qualify for indemnification.

Networking isn’t just about showing up, shaking hands and trading a few business cards. If it’s done well, it’s a direct path to new clients, improved sales and potentially, real business growth. The value of networking lies not in how many people you meet, but in who you meet and what you do with those connections once the conversation ends. Here are our tips on how to make the most of networking.

Most entrepreneurs know they should be building a network, but not many know this should be a core business strategy. Building and maintaining the right relationships can lead to improved contracts, revenue gains and business growth, provided you know how to use them. The good news is, we aren’t asking you to go out and become a natural networker. You just need to put a few key habits in place and start treating networking as a long-term business investment. Here are six common misconceptions that, when remedied, can help turn handshakes into business growth. 

1. I go to networking events, but I never see any benefits
   This is a common complaint, but it’s seldom the event that’s at fault. Many people see no benefits because they approach networking events passively. They show up, have a few chats, hand out business cards, and hope someone follows up. That’s not networking. That’s exposure. To make events pay off, you need to arrive with a goal, and steer conversations intentionally. Then afterwards, you need to follow up promptly. This doesn’t mean that you need to sell to everyone in the room. Often it’s far better to listen to people’s needs and identify just where you might be useful. A short, personalised follow-up message, the next day could then unlock a real business opportunity.           
2. I simply don’t have time to network
   Networking doesn’t have to be a drain on your time. If you’re chatting to the right people, just one or two strategic conversations a week might be all you need. The key is to start thinking of networking as business development – everyone has time for that. If you can carve out 30 minutes a week to check in with past contacts, make introductions for others, or send a useful article to someone in your network, you’re already doing more than most. The results won’t be instant, but it all adds up.             
3. My industry doesn’t work like that
   Whether you’re in logistics, consulting, construction, or retail, your next deal could still come from a friendly introduction. The channel might differ, but the principle is the same. People do business with people they trust. That old saying, “it’s not what you know, but who you know” has never been truer. No industry is too technical or regulated for word-of-mouth not to matter.
4. I’ve already got a good network
   Knowing people isn’t enough. That network of people needs to be activated. This means that you need to make yourself visible, helpful, and memorable. Stay top-of-mind by making introductions, sharing your insights, or simply checking in without hoping to make a sale. The goal isn’t to extract value, it’s to keep yourself fresh in their minds so you’re the first person they think of when they do need something. And remember: relationships decay over time, so make sure you refresh them regularly.
5. Networking doesn’t feel authentic
   Networking should never feel like a performance. The most effective networkers aren’t slick or rehearsed. They listen more than they talk. They ask thoughtful questions. If you’re having no luck networking, it may be because you’re trying too hard to be interesting, rather than simply being interested. Shift the focus. Stop trying to pitch, and start looking for ways to be useful. Can you make an introduction? Offer advice? Share a resource? That’s where trust starts and a true network can develop.             
6. I don’t see how this makes me money 
   Networking contributes directly to revenue by opening access to people and opportunities you wouldn’t reach on your own. The referrals you get from people you have met and been valuable to, will often lead to new business.       

The bottom line
There’s no need to “become a networking expert,” but there is a need to focus on a few strategic relationships. Show up with intent. Follow up with purpose. And above all, give before you ask. The returns might not be instant, but they will come.

Did you know that tax is payable on crypto asset transactions? SARS has intensified its focus on crypto asset trading recently, significantly improving its capacity to detect crypto activity and non-compliance with advanced analytics, extensive data-sharing arrangements with crypto exchanges, and a dedicated Crypto Asset Unit.  If you have crypto and have not declared it, our expertise and experience will prove invaluable.

A staggering 5.8 million South Africans hold a crypto asset, with Southern Africa boasting the largest uptake of Bitcoin in the world. SARS has not failed to notice the phenomenal growth of various digital currencies and crypto assets and is now dedicating substantial resources to ensure that crypto assets and trades are declared on taxpayers’ tax returns.             

How are crypto assets taxed?
While crypto assets are not considered legal tender, transactions or speculation in crypto assets are subject to the general principles of South African tax law. Normal income tax rules apply and affected taxpayers need to declare crypto assets’ income, and gains or losses in the tax year in which it is received or accrued. Income from crypto assets transactions can be taxed under “gross income” or it can be seen as a capital gain (and subject to CGT). Whether an accrual or receipt is revenue or capital in nature is tested under existing tax law, of which there is plenty.

Taxpayers are also entitled to claim expenses associated with crypto assets accruals or receipts, provided such expenditure is incurred in the production of the taxpayer’s income and for purposes of trade. Base cost adjustments can also be made according to the CGT rules. Gains or losses in relation to crypto assets can broadly be categorised with reference to three types of scenarios, each of which potentially gives rise to distinct tax consequences:

1. Crypto assets can be acquired through so called “mining” – the verification of transactions in a computer-generated public ledger through the solving of complex computer algorithms.
2. Investors can exchange local currency for a crypto asset (or vice versa) through crypto asset exchanges (which are essentially markets for crypto assets) or through private transactions.
3. Goods or services can be exchanged for crypto assets. Such transactions are regarded as barter transactions and the normal barter transaction tax rules apply.

The onus is on taxpayers to declare all income and gains related to crypto assets.     

Stricter enforcement
SARS has intensified its focus on crypto asset trading recently, significantly improving its capacity to detect crypto activity and non-compliance. They have done this by:

• Making greater use of advanced analytics, artificial intelligence, machine learning and algorithms
• Entering into data-sharing arrangements with crypto exchanges
• Establishing a dedicated Crypto Asset Unit

Since last year, SARS has been sending Audit and Request for Relevant Material Notices to taxpayers who have traded, invested or even used crypto assets for purchases. This is possible because SARS now has access to trading data directly from crypto exchanges. This includes information on taxpayers who have traded in crypto assets but may not have disclosed these activities on their tax returns. In addition, through multilateral agreements, SARS is exchanging information with other tax authorities globally, in line with global tax enforcement trends. What’s more, the establishment of SARS’ specialised Crypto Asset Unit is a clear indication that crypto asset taxation has become a priority.           

What must I do?
Taxpayers engaged in crypto asset transactions should ensure their tax affairs in this respect are fully compliant. Failure to comply could result in audits and investigations; interest and penalties at percentages as high as 200%, as well as further legal repercussions. The SARS Voluntary Disclosure Programme (VDP) provides an opportunity for taxpayers who have not declared their crypto holdings to achieve compliance and to avoid potential penalties and interest. However, the VDP has strict conditions, one of which is that the taxpayer must voluntarily approach SARS first, before SARS initiates further action. Once SARS has identified a taxpayer for audit, they can’t apply for the VDP.   

How we protect your interests
Relying on accounting and tax expertise is essential for correctly assessing any historical crypto tax liability and possibly making voluntary disclosures, correctly declaring current crypto asset transactions, and ensuring compliance requirements are met proactively. 

Accounting isn’t just something to worry about during tax season. It’s the engine room of every decision you make, from whether you can hire, to when you should scale.  Sadly, far too many businesses still cling onto accounting myths that affect every decision they make. These aren’t dramatic mistakes. They’re assumptions picked up over time that feel right but hold you back. It’s time to clear them out – and start seeing your business the way it really is.

Most business owners aren’t careless with money. They obsess over profit margins and expenses, and carefully analyse their bank balances. Over time, however, many people fall for accounting myths that sound like common sense. These myths crop up in meetings, tax chats, and casual conversations – and they stick. The problem is, some of these ideas distort the way you see your business. They can make you feel more profitable than you are, hide looming cash problems, or cause you to delay decisions until it’s too late.  Busting these myths won’t only sharpen your numbers – it might unlock the growth that’s been out of reach for too long.     

Depreciation is just a paper loss
Depreciation is often described as being a “non-cash” expense, which leads some to think it’s not a real cost. But depreciation is very real. It reflects the wear and tear on your assets, equipment, vehicles, and even your office fittings. (Buildings tend to be an exception to this rule.) Like it or not, that slow erosion of value is going to affect your business eventually.  Ignoring depreciation can leave you thinking you’re operating at higher margins than you really are. This, in turn, can lead to decisions (like expanding your business or cutting prices) that the business may actually not be in a position to make. It’s therefore essential to treat depreciation as part of your real cost base, because sooner or later, you’ll need to replace what’s wearing out.          

Profit equals cash
Because this one feels so intuitive, it can trip up even the most astute entrepreneurs. Your business is profitable, so there should be money in the bank. The thing is, profit is an accounting measure while cash is what you actually have on hand. And the two often travel on different timelines. Unpaid invoices, stock that hasn’t moved, loan repayments … these can all put pressure on your cash position, even when your income statement says you’re in the clear. Profit without cash flow can land you in hot water fast. It’s often the reason otherwise “profitable” businesses go under. Don’t get caught only watching your bottom line.       

If there’s money in the account, we’re doing fine
That moment of checking the bank balance and breathing a sigh of relief? We all do it. But a healthy balance today doesn’t mean all your bills are paid, or that your tax obligations aren’t just around the corner. It certainly doesn’t mean you can afford that new delivery van without checking the books first. A snapshot of your bank balance is just that – a snapshot. It says nothing about what’s coming in, what’s going out, and what’s already spoken for. Operating without a cash flow forecast is like driving with your eyes locked on the rear-view mirror.              

Tax is something to worry about at year-end
By the time year-end rolls around, your tax position has already been shaped by a hundred small decisions. Wait until then, and there’s not much you can do about it, except write the cheque. Tax planning is an all-year activity. There are dozens of factors that will affect your liability – from choosing the right structure, to timing your asset purchases, handling employee salaries and paying out dividends. A little foresight early in the year can save you a massive headache in February. Don’t be one of those businesses that only speaks to their accountant after the damage is done.     

Accountants are just for compliance
We aren’t just here to file returns and send invoices for you. We can help you read the story your numbers are telling. That includes where you’re leaking cash, how sustainable your margins are, and what your break-even point really looks like. 

Growth always means more sales
Growth feels good: bigger orders, more customers, faster turnover. But unless that growth is well managed, it can be lethal. More sales can mean more expenses, more staff, more stock, and more space. If your margins are thin, or if customers are slow to pay, rapid growth can tie up all your cash in working capital and leave you with nothing to operate on.  Before chasing sales targets, it’s worth asking, can we afford to grow? And is this growth profitable?

We can always fix the books later
When you’re flat out running a business, bookkeeping often takes a back seat. But bad books make for bad decisions. They hide problems, delay action, and lead to missed opportunities. Clear, current numbers are the foundation of everything from pricing and hiring to raising capital. Without them, you’re guessing. And guessing can be an expensive habit.             

The final word
Don’t feel embarrassed if you’ve been taken in by some of these myths. They’re common, they sound plausible, and they’re often repeated. But they also limit your options, distort your view, and slow your progress.  Accounting is not about ticking boxes. Done right, it’s about clarity. And with clarity come better decisions and better growth.  

The scrapping of the proposed VAT increase in Budget 3.0 resulted in a budget shortfall, necessitating alternative sources of funding.  One of these is the increased collection of outstanding tax debt. It’s a challenge SARS has accepted, Treasury has financed with an additional R4 billion in funding, and the media is touting as “Project AmaBillions”. This is how it will affect you – and how we can assist.

Removing the contentious proposed VAT increases from Budget 3.0 led to a shortfall in revenue that necessitated new revenue sources. One of these is the inflation-linked fuel levy increases of 16c for petrol and 15c for diesel, which became effective on 4 June and will impact all individuals and entities in the country.  Another alternative revenue source is going to come from SARS’ upping its collection of outstanding tax debt – with Treasury expecting an additional R20 billion to R50 billion per year from intensified debt collection efforts.

The tax measures contained in Budget 3.0 will raise an additional R18bn in 2025/26. A further R20bn in as-yet-unknown tax measures are postponed to Budget 2026 – unless SARS collects an extra R35bn in outstanding taxes. SARS has accepted the challenge and Budget 3.0 allocated a further R4 billion to SARS to fund the debt recovery. (In addition to the R3.5bn previously allocated to the cause.)

‘Project AmaBillions’?
In what the media refers to as “Project AmaBillions” and what SARS calls its “compliance programme”, an intensified effort will be made to collect a greater slice of the estimated R800 billion in unpaid taxes – the so-called “tax gap”.  SARS reported that just over R400 billion of the tax gap consists of undisputed uncollected debt. The rest is made up of a further R100 billion in debt currently under dispute, more than 54 million returns outstanding dating back several years, and 156,000 South Africans with substantial economic activity who are not registered taxpayers, or are not filing their tax returns. SARS says that it will focus on the undisputed debt, while accelerating work on collecting all debt by dutifully implementing its compliance programme. In the last financial year SARS recruited and trained more than 800 new employees to collect debt, mainly via telephone calls and legal instruments. These efforts, says SARS, must result in a minimum collection of R20 billion.

To meet its revised revenue estimate this year, SARS is:

• Closing the tax gap, with a focus on undisputed debt.
• Broadening the tax base, targeting hard-to-tax sectors in the informal economy, particularly small enterprises and self-employed individuals.
• Using advanced data analytics and artificial intelligence to detect tax-compliance risks and improve overall compliance rates.
• Combating the illicit economy.

How does it affect me? 
As SARS significantly steps up its revenue collection efforts, those eligible to pay tax – whether registered taxpayers or not – can expect less lenience and more SARS queries, verifications, audits and collection efforts. In fact, the South African Institute of Chartered Accountants (SAICA) has been quoted in the media warning that the pressure on SARS to collect significantly more tax this year may result in “heavy-handedness” by SARS in its treatment of taxpayers. SARS confirms that it upholds the rights of taxpayers to exercise their rights in law, which include among others, asking for payments to be deferred or paid in instalments, or to dispute the debt. Taxpayers must also be wary of scams – the well-publicised increase in debt collection activity at SARS will be matched by an increase in financial scams by fraudsters pretending to be SARS employees or appointed debt collectors. 

How we protect your interests
Even with SARS’ well-funded and intensified focus on compliance and debt collections, our specialist tax team will continue to ensure that your interests remain protected. Our up-to-date tax expertise and best practices ensure you have clarity on your specific tax obligations, and that all these tax commitments are met accurately and timeously. We can confirm the legitimacy of any SARS communications to protect you from scams and respond promptly and professionally to legitimate enquiries on your behalf. This includes swiftly rectifying any non-compliance issues, and handling demands for outstanding tax debts correctly.

We also monitor that SARS follows the correct legal processes – including adhering to timeframes and procedures in respect of assessments, refunds, dispute resolution, and instituting debt collection measures such as unauthorised bank account withdrawals – to ensure your taxpayer rights are respected.

Failing to understand your ideal customer, wastes time, energy and resources. According to a report by CB Insights, 42% of startups fail because there is no market need. In other words, many companies are failingsimply because they didn’t define or validate their target audience properly. So, how do you determine your real audience, and then refine that group as your business evolves? Here are our top five tips.

Fundamentally, businesses start because business owners believe they see a gap and aim to fill it. Their target market is built into the essence of the business. And yet, statistics show that at least one third of those business owners were wrong all along. Many entrepreneurs think their product or service is for “everyone”, but trying to serve everyone usually means you end up serving no one well. Identifying and refining your real audience is critical to creating effective marketing campaigns, building better products, and sustaining long-term growth. Here are five practical tips to help you better define and refine your target market.

1. Start with the problem you’re solving
As a business owner, the first thing you need to do is identify the specific problem your product or service addresses. Ask yourself: Who has this problem? Who is actively looking for a solution? The more precisely you can answer these questions, the closer you are to identifying your core market. Once you understand the problem, look at existing customer data or run surveys to determine the people most likely to benefit from your solution. Don’t make assumptions. Focus on the why behind their purchasing decisions.

2. Build a customer persona (and revisit it often)
A customer persona is a semi-fictional profile of your ideal customer based on research, data, and interviews. Include details like age, job title, income, goals, frustrations, preferred social media platforms, and buying behaviours. Giving your customer a name and a story will help you recall the important aspects of the person you are serving. But remember, a persona isn’t static. As you grow and collect more data, revisit and refine this profile. According to Sales For Startups, companies that use updated personas achieve 73% higher conversion rates than those that don’t.

3. Segment your audience
Not every customer will have the same needs or behaviours – and just because someone falls into your target market, doesn’t mean they are automatically going to buy from you. Audience segmentation allows you to create more tailored marketing strategies. Start with basic segments like age, location, or purchase behaviour. Then drill down into psychographics such as values, attitudes, and lifestyle. For example, two people buying your eco-friendly cleaning product might do so for different reasons: one for health reasons, the other out of environmental concerns. Understanding these motivations enables you to craft more resonant messaging.

4. Use analytics to refine your focus
Data should drive your decisions. Use website analytics, social media insights, email open rates, and CRM (customer relationship management) data to understand who’s engaging with your content, who’s buying, and who isn’t. Look for patterns: Which landing pages convert best? Which demographic clicks through the most? Your accountant can help you lift accurate sales data for different periods. This can be used to track the success or failure of special offers, product launches and other sales events to narrow down the areas that are working. According to a survey by Salesforce, 76% of marketers say data-driven decision-making is crucial in campaign performance. By comparing your ideal audience to actual customer behaviour, you can adjust your messaging or target more profitable segments.

5. Actually talk to your customers
The most underrated source of insight is your customers themselves. Schedule interviews, send out surveys, or talk to users after a successful sale. Ask open-ended questions like:

• “Why did you choose us?”
• “What alternatives did you consider?”
• “What almost stopped you from buying?”

These conversations will undoubtedly uncover objections you hadn’t considered, new segments you didn’t plan for, or even product ideas for future growth. And remember: customers are often more honest in conversation than on email.

While most businesses focus on funding or tangible assets, true value often lies in intellectual capital. A company’s people, ideas, systems, and relationships are the intangible resources that drive success. But they are often neglected or even forgotten. To thrive long-term, founders must recognise, nurture, and retain the knowledge and creativity that set their business apart.

In the rush to raise capital, improve profitability or streamline efficiency, business owners often miss what truly drives their success: the knowledge, relationships, and systems that power everything behind the scenes. Whether you’re a one-person start-up or a growing enterprise, your intellectual capital is the secret key to your future triumphs. It is therefore vital that this intangible resource is protected before it vanishes. Doing so could be the most profitable decision you ever make.

Understanding intellectual capital
Intellectual capital is grouped into three categories: human capital (skills and experience), structural capital (systems, intellectual property (IP), databases) and relational capital (customer relationships, brand reputation and partnerships). A recent study by Ocean Tomo revealed that intellectual capital now constitutes approximately 90% of the S&P 500’s market value – a significant increase from 68% in 1995. That includes patents, know-how, trade secrets, brand equity, and team knowledge.  With numbers like this, it’s absolutely essential that you audit your intellectual capital just as you would your balance sheet. What processes are unique to you? Who on your team holds key relationships or institutional memory? Are your best ideas captured anywhere, or do they leave when someone resigns?        

Culture and contracts
You have to understand that your people are the carriers of knowledge. Their experience, relationships with clients, and systems know-how can be invaluable. Unless you plan carefully, when someone leaves they often take that intellectual capital with them. Retention doesn’t just come from compensation. It comes from fostering a culture of recognition, curiosity, and inclusion. The 2023 Gallup “State of the Global Workplace Report” stated that, “employees who have had opportunities to learn and grow are 2.9 times more likely to be engaged.” It is therefore essential that you ask your accountant to make space in your budget for learning programs, and other leadership developing initiatives. But culture alone isn’t enough. It’s important to also back up your culture with a legal framework that protects you. This includes NDAs (non-disclosure agreements), IP assignment agreements, and clear clauses in employment contracts covering confidentiality and ownership of work.  

Capture knowledge before it walks
Most businesses operate through a web of undocumented processes from verbal know-how, to “we’ve always done it this way” workflows. That’s risky. Developing internal playbooks, knowledge bases, and SOPs (standard operating procedures) is one of the most effective ways to turn intellectual capital into something transferrable and scalable. Use tools like Notion, Confluence, or even simple shared drives to document repeatable knowledge. Then embed this into your onboarding and training cycles.     

Nurture innovation and learning
Intellectual capital isn’t static. Like any asset, it can appreciate or depreciate. One of the best ways to nurture it is by creating space for learning, experimentation, and cross-pollination of ideas. Encourage teams to attend industry events, run internal hackathons, and allocate budget to learning and development. Even better, reward creative problem-solving that moves the business forward.           

Make intellectual capital part of your valuation
It’s vital that your intellectual capital becomes a cornerstone of your company valuation. Whether you’re pitching to investors, selling your business, or applying for funding, it’s important that you document your competitive advantages. Have you built a repeatable system others can’t match? Developed internal tools that boost efficiency? Retained staff with rare skills? All of this translates into value. Only by showing how your business can thrive even if the best individuals leave, can you give future investors the knowledge they need to trust you.

The Tax Filing Season for the 2024/2025 year of assessment will officially open on 7 July 2025.  Find out here what the deadlines are and which of them apply to you. Also discover what to do if you are auto assessed – and if you are not. Hot tip: streamline your 2025 tax season by simply relying on our expertise.

Tax Filing Season 2025 officially opens on 7 July this year. This covers the 2024/2025 year of assessment: the period between 1 March 2024 and 28 February 2025. During filing season, taxpayers complete and submit their tax returns, declaring their income and deductions to allow SARS to determine their final tax liability for the period under assessment. This year, for the first time, the majority of non-provisional taxpayers will be automatically assessed.         

Dates to Diarise

Auto assessed? Here’s what to do…

• If you have been auto assessed, you will receive notification by SMS and/or email directly from SARS after 7 July. (Be sure to check with us that the notification you receive is legitimate!)
• Access your auto assessed income tax return through any of SARS’ channels, such as the SARS MobiApp or SARS eFiling, to review and verify the completeness and accuracy of the information it contains. (Be sure to check with us if you are uncertain of any aspect of the auto assessment!)
• If you are satisfied with the auto assessment, and there is money owing to SARS, it must be paid to SARS by the stipulated date. If there is a refund due to you, it will be paid directly to your bank account within 3 working days, if your details with SARS are correct.
• If there is missing and/or inaccurate information on the auto assessed tax return, pertaining to either income or expenses which may affect the outcome of the auto assessment, it must be declared to SARS by submitting a ITR12 tax return by the 20 October 2025 deadline.     
  
  

Not auto assessed? Here’s what to do…

Non-provisional taxpayers who are not auto assessed can start filing their tax returns from 21July 2025 until 20 October 2025. Provisional taxpayers (certain individual taxpayers and all companies) as well as trusts can start filing returns from 21July 2025 until 19 January 2026.           

Top tips to streamline your tax filing season 

• Verify all SARS communications received to protect yourself from scams.
• Check that all taxpayer and banking details are correct and updated with SARS to facilitate refunds and prevent identity theft and fraud.
• Prepare all required documentation early to avoid last-minute delays and to expedite a possible SARS verification or audit.
• Claim every tax rebate available to you to avoid paying more tax than required.
• Ensure that your tax return submissions comply with current regulations.
• Be certain to meet the submission deadlines to avoid penalties.

In the life cycle of every small business or start-up, one early trap catches many founders off guard: failing to separate personal and business finances. Whether you’re a seasoned entrepreneur or just starting out, maintaining clear financial boundaries is essential for protecting yourself and your business and ensuring long-term success. Here are five tips to help you draw the line.

Mixing personal and business finances is so easy, particularly at the beginning. The company needs something, but money hasn’t come in, so you extend a small loan. You pay yourself back, by paying for the groceries on the company card.  A recent report by the US Federal Reserve on economic wellbeing has revealed that 39% of small business owners use personal funds to cover business expenses. This creates unnecessary risk and could expose both parties to potential audits, bankruptcy and even criminal prosecution. So, how do you untangle personal and professional spending without creating more chaos? These are our five tips.         

1. Open a separate business bank account
   The first step is getting a separate bank account for your business. This small step already makes it so much simpler to keep all income, expenses, and taxes distinct from your personal finances – giving you clarity and protection in case of an audit. Once your account is open, ensure all business payments go in and out of it exclusively. Resist the temptation to make personal purchases on your business card even just once.
   
   
2. Apply for a business credit card
   A business credit card can be a powerful tool to keep finances clean and establish credit history for your company. It allows you to track spending, earn business-relevant rewards, and build a credit score separate from your personal one.  According to a 2022 Nav Small Business Survey, 45% of business owners didn’t even know they had a business credit score. This is a missed opportunity – strong business credit can help with financing, insurance, and vendor relationships down the line.
   
   
3. Pay yourself a salary (or draw consistently)
   Many business owners pay themselves sporadically or in large lump sums, depending on how much is left over each month. This creates cash flow chaos and a personal dependence on the business that’s hard to manage. Instead, create a set payment structure, either paying yourself a salary or a set amount on certain dates. This structure will help you plan personally and track business performance more accurately.
   
   
4. Use accounting software
   Manual spreadsheets can work in year one, but as soon as your business gains momentum, you’ll need robust tools. Software like QuickBooks, Xero, or Wave allows you to categorize expenses, reconcile accounts, and prepare for tax season with confidence.  A study by Intuit QuickBooks showed that 69% of small business owners who used accounting software reported greater clarity over their finances and fewer tax-related errors. Automating your bookkeeping and syncing accounts ensures your records are always up to date and SARS-ready.
   
   
5. Work with a bookkeeper or accountant from the outset
   It’s tempting to wait until tax time or a cash flow crisis to call in a pro. But a good accountant is a strategic partner, not just a compliance necessity. They can help you optimise deductions, structure your pay, and ensure your financial systems scale with your business.  According to a survey by the National Small Business Association, 42% of business owners spend over 80 hours per year on taxes. A qualified accountant or tax practitioner can reduce that significantly, while helping you avoid costly mistakes. Look for someone with experience in your industry and business model.