In this issue:

•    We told you that SARS won’t accept the old EMP201 forms
•    What we neglected to mention...
•    But don’t be caught napping!
•    Take the survey  and get a free report

Dear Reader

We told you that SARS won’t accept the old EMP201 forms

In the April issue of Tax Watch, we said that SARS only wants the new EMP201 forms. We said they won't accept the old ones. We’re right: They won’t. But only from March 2010 onwards. Which means that if you’ve been using the older forms up until now, then you don’t need to fret. These forms will still be accepted by SARS!

What we neglected to mention...

What we neglected to mention is that the use of the new forms is not mandatory right now. If you’ve been using the older version of the forms, then these will be accepted by SARS. You won’t need to re-submit these. The only time you will have to resubmit with the new version of the EMP201 forms is if you have one outstanding for this tax season, or if you are re-submitting the form for a previous period.

But don’t be caught napping!

Whilst the older EMP201 forms remain valid and acceptable for now, by August, they probably won’t be. SARS wants us taxpayers to switch to the new forms. It’s relaxed the rules for a bit, but has made it clear it’s going to get tough with us. In particular, about your employees’ tax reference numbers, addresses, ID numbers, banking details, and contact details. We expect these new forms to be mandatory by the end of 2010.

Take the survey and get a free report

At Fleet Street Publications, we spend a great deal of time looking for the tools and resources that will make your life easier, and make you more successful. And now we’re busy working on a new Handbook, for accountants. The kind of Handbook that tackles reporting standards, disclosure requirements, accounting practices and tips, and gives you templates too so your job becomes easier and less stressful.

But we’re stuck on a name for this fabulous new Handbook... Why don’t you help us?

All you have to do is click on this link and complete the quick/short online survey. Your feedback will help us make the right decision. And if you do take part in the survey, we’ll send you a very handy report, called: Getting inside the SARS auditor’s head: 12 checklists to help you survive an audit.

It’ll show you exactly what the SARS auditors look for, when they’re auditing you. Use the tips in the report to make sure your taxes are 100% in order.

We’re closing the survey at 16h00, on Friday 7 May 2010. So make sure you complete the survey before then, or you’ll miss out!

Until next week

Fulvia Becatti
Managing Editor: Practical tax Handbook & Practical Vat Handbook