Business Blog

Red Precision Accountants

Your Monthly Dose of Financial Wisdom & Fun Facts

Welcome from the Red Precision Team! 

Greetings from all of us at Red Precision Chartered Accountants! We're excited to share some fascinating financial insights, helpful tips, and updates about how we can support your business journey.

🎯 Fun Financial Facts That'll Surprise You!

Did You Know?

  • The word "salary" comes from the Latin word "salarium," which referred to the money given to Roman soldiers to buy salt! 🧂
  • South Africa's tax year runs from March to February - making us unique compared to most countries that follow the calendar year
  • The average small business owner spends 40+ hours per year on tax preparation alone
  • SARS processes over 17 million individual tax returns annually!

💡 This Month's Tax Tips Tuesday Highlights

⚠️ Don't Let SARS Catch You Off Guard!

  • Late submissions can lead to 10% penalties
  • Keep receipts for 5 years - SARS can audit you anytime
  • VAT registration is mandatory once you exceed R1 million in taxable supplies

💼 COIDA Registration Reminder Business owners - have you registered for COIDA yet? It's not just a legal requirement, it protects your employees and gives you peace of mind!

🌟 How Red Precision Can Help You

Our Expert Services Include: ✅ Personal & Business Tax Returns - Let us handle the complexity while you focus on growing your business ✅ VAT & PAYE Management - Stay compliant without the stress ✅ Tax Clearance & Penalty Disputes - We'll fight for you when SARS comes knocking ✅ SARS Queries & Audits - Expert representation when you need it most ✅ Payroll Services - Accurate, timely, and compliant payroll management ✅ CIPC Services - Company registrations and annual returns made simple.

Thank you for being part of the Red Precision family. Here's to your financial success!