VAT REGISTRATION NUMBERS
Will your business exceed a R 1 million turnover in the next 12 months? You need to register for VAT with SARS!
Any business that is likely to exceed a turnover of R 1 million in a period of 12 months, is obligated to register for VAT with SARS within 21-days from the date that the business exceeds the R 1 million mark.
But perhaps you’re not necessarily going to achieve that figure? You may still wish to register for VAT if your clients require or prefer this from you.
In both cases, we can help you with your VAT Registration, and any accounting or tax advice that you need to help you make the best decision for your business.
WHAT WE WILL NEED FROM YOU:
The original and a copy of an Identity document (ID)/temporary ID/passport/driver’s licence for the registered representative for your business.
Copy of proof of residential address of the registered representative for your business
Letter of appointment authorising the appointed representative for your business, to act as a Public Officer or minutes of the meeting where the resolution was made that the appointed representative should act as the Public Officer for your business.
Certificate of Registration of the Company; or Company’s Memorandum of Incorporation (MOI); or CK1/CK2 documents.
Proof of Residence (A Utility Account/Co-op Statement/Telephone Account/Medical Aid Statement/Mortgage Statement/Insurance Document).
Proof of Banking Details (Original stamped letter from the bank, or an original bank statement – neither should be older than three months).
UBUNTU EXPERT INSIGHT…
Your VAT Registration will have both advantages and disadvantages. Let’s take a look at some of them:
You’re a serious, trustworthy business:
Even if you earn less than R 1 million per annum, having a VAT Registration Number tells larger clients that you want to do business with, that you are stable and big enough to assist them.
Claiming VAT back:
If you have a capital-intensive business, your cash flow will take a lot of strain if you’re not a VAT vendor. A machine of R 10 000 will cost you an extra R1,500 in VAT, which you can only claim back if you’re VAT registered.
When you submit an invoice that includes VAT, you need to pay the stated VAT to SARS within two months of the invoice date – whether you have been paid or not.
More administration time and cost:
Managing VAT can be time consuming. For a small business, this can be a problem if you are not yet in a position to employ a dedicated and knowledgeable bookkeeper.
Need more advice like this? Set up a Professional Business Consultation with one of our Company Registration Specialists
APPLY FOR YOUR COMPANY VAT REGISTRATION NOW!
R 1,990 . 3 steps . 15-days . DONE!
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Based in Cape Town but serving all cities and towns in South Africa, Ubuntu Company Services provides small and medium size businesses with all their company registration and certification needs, aligned to the latest laws and the Companies Act of South Africa, as well as a wide range of business support services. Our processes are simple and straightforward, with all services provided online for your ultimate convenience.
10 Berman Street, Southern Paarl, 7624
Book your online appointment with one of our specialist business consultants during these hours:
Monday - Thursday: 08h00 - 16h30 | Friday: 08h00 - 15h00| Saturday: Closed | Sunday: Closed | Public Holidays: Closed
ONLINE SERVICE . WE HELP ANYONE, ANYWHERE IN SOUTH AFRICA.
I will gladly recommend Ubuntu Company services. Norman and his team does great work. Reliable, trustworthy, 5-star service and I can go on. Thank you! – MS. DE LANGE
I'd like to compliment one of your employees, Norman for the excellent service he provided us last week. Norman helped us to sort out our account after we have been struggling for years to sort it out. – MR. CROWE
I have been dealing with Ubuntu Company Services since 2017 and I can tell you that the level of service and the response time has been amazing... Just yesterday I was in a bit of a pickle with CIPRA and Theresa and Norman were both outstanding with responses and assistance. Well done to an awesome team who go over and above for their clients! – MS. CUPIDO
All my queries where answered promptly and the whole process was smooth and only took a few hours. Very impressed with your service. – MR. ERIKSON
We have been pleased with the service we received from your company. Your professionalism and ability to get to the bottom of the situation quickly, has exceeded our expectations. – MR. CROWE
It’s not often that you get good service these days, especially in South Africa - but with Ubuntu, and especially Norman you don't only get good service but EXCELLENT SERVICE. I will most definitely make use of them again and recommend UBUNTU to everyone. Thanks Norman you are exceptional! – MS. BARNARD
I've never slept at a five-star hotel but with Ubuntu Company Services I got to experience what five is. I now have an idea of what five star feels like. You'd swear I got paid for this review, no. Ubuntu's service is beyond excellent that it's overwhelming, it deserves a 8 star! Literally. – MS. NYALUZA
Their efficiency and excellent service is second to none. Much appreciated. – MS. BENGURA
Such a commitment to great customer service is to be commended. You can be sure that I will continue to do business with you for years to come and we will also recommend Ubuntu Company Services to everyone. – MR. CROWE
I have been trying to do a COIDA registration for month. True to his word, Norman from Ubuntu did registration within time promised. Thank you, Norman for your excellent service! I will definitely recommend you with pleasure. – MS. TERBLANCHE
Thank you so much Ubuntu for your great excellent service I received from you, because of you my business have entered new levels of growth. The future for my business looks bright because of your caring assistance Ubuntu Company Services. – MR. MANUEL