Time to catch up on some news from payroll and what’s happening in the tax arena.
There are some important issues to be covered here, so let me start with Sage Pastel payroll.
The current update is 2020 Update 2
It is just exceptionally important that you DO NOT generate your Electronic certificates for Bi-Annuals before updating to 2020 Update 2 and running a legislative release.
There was a late start this year and submissions were only opened from 23 September. You have until 31 October.
I just wanted to inform you of the importance of why you need to submit EMP501 in August.
Sars have changed a lot of their criteria for IRP 5 certificates. So they have created algorithms to use on the financial information on these August returns. They will take sample certificates and recalculate the PAYE UIF and SDL and use it to compare values captured on the EMP501. Those that failed validation will be told via a TXT file.
Employers who qualify for ETI must submit August EMP501 returns to claim any run over from the previous six months. Otherwise it falls away. The February return will only will only allow you to claim the second six month periods.
If you have 50 certificates or less you can do your EMP501 on efiling now.
So SARS are closing in and closing up all the loophole. Stay compliant.
Call Ukhozi for any assistance you require .