TAX COMPLIANCE COURSE 2022
THERE IS NO COURSE LIKE THIS ONE
This compliance course will run in 6 parts of 2 hours each starting Friday the 11th March 2022 at 8:30am and thereafter each week. It will provide you with 12 hours of CPD and allow you to have a model risk averse and best of breed tax practice if you follow the steps we suggest. There will be a documentation booklet and CPD certificates after you answer the quiz. If you are unable to make a session there will be a recording afterwards.
Please note there is a change in the agenda to deal with Admin Penalties and the new season.
Who Should Attend
Everyone who is involved in a tax practice
All Tax Practitioners and Assistants
If you only use e-Filing or you are automated with a back-office tax system.
Instructions to Register
Accfin users can attend all webinars for free. Click on the 3rd tab to register for the series of webinars.
Non Accfin Users who have not paid can make payment by selecting the Pay Now tab of R1100inc or the Send Invoice tab for an invoice of R1100inc.
Non Accfin Users paid up register for the webinar.
Please note that once this amount is paid you may attend all the tax webinars run the year.
Make sure you click on the correct tab below!
PLEASE NOTE INVOICES WILL BE GENERATED AT A LATER TIME THEY ARE NOT AUTOMATIC
This compliance course will run in 6 parts of 2 hours each starting Friday the 11th March 2022 at 8:30am and thereafter each week. It will provide you with 12 hours of CPD and allow you to have a model risk averse and best of breed tax practice if you follow the steps we suggest. There will be a documentation booklet and CPD certificates after you answer the quiz. If you are unable to make a session there will be a recording afterwards.
Please note there is a change in the agenda to deal with Admin Penalties and the new season.
Who Should Attend
Everyone who is involved in a tax practice
All Tax Practitioners and Assistants
If you only use e-Filing or you are automated with a back-office tax system.
Instructions to Register
Accfin users can attend all webinars for free. Click on the 3rd tab to register for the series of webinars.
Non Accfin Users who have not paid can make payment by selecting the Pay Now tab of R1100inc or the Send Invoice tab for an invoice of R1100inc.
Non Accfin Users paid up register for the webinar.
Please note that once this amount is paid you may attend all the tax webinars run the year.
Make sure you click on the correct tab below!
PLEASE NOTE INVOICES WILL BE GENERATED AT A LATER TIME THEY ARE NOT AUTOMATIC
ITEMS TO BE DEALT WITH
Please note that the agenda may change depending on circumstances and on matters that may arise!
BACKGROUND IN ORDER TO RUN A TAX PRACTICE.
The necessary components to run a successful back office system in a tax compliance tax practice will be discussed. Background to automated back office systems and how the Tax Administration Act changes everything. How SARS are using automation to reduce the workload. Where we have come from. Why your accounting practice is tax-centric and why you have to make your tax practice risk averse as well as make it profitable especially during these hard times. We will trace the history from early days of e-Filing and why its imperative to ensure your tax clients are tax compliant.
We will discuss all controversial issues that have arisen during the last year!
REGISTERED TAX PRACTITIONERS
The requirements to be a Tax Practitioner and why this is so important. Ethics will be discussed in detail.
PAPERLESS AND REMOTE OFFICE
Why it is so important in the age of Covid-19 to be paperless and the tools you need to make it paperless, efficient, profitable and remote will be discussed.
COMMUNICATING WITH YOUR CLIENTS
Proper communication with your clients is key to running a successful risk averse practice. All the do’s and don’ts of communicating with your clients especially during Covid-19 will be dealt with. The concept of digital signatures and how this will go a long way to tracking and controlling communications with your taxpayer clients as well as guarantee that your client receives all your communications and confirms your submissions. Examples of letters will also be provided as part of your notes. We will provide full samples of the most important letters.
REDUCING RISK EXPOSURE IN A TAX PRACTICE
Why it is necessary to have a proper mandate that your client needs to sign - we will supply our updated mandate. We will discuss the steps you need to take in order to reduce your risk exposure. Letter writing has become crucial. Signing of tax returns – who needs to sign a return. Potential liability that could be incurred by a Tax Practitioner. E filing terms and conditions and some important history of e Filing.
COST OF RUNNING A TAX PRACTICE
Calculating the cost of running a tax practice in today's times has become very difficult as there are new exposures each and every day. We discuss various methods of calculating the cost of running your tax practice and what to do when you are exposed to unlimited cost (in hours) that has nothing to do with you. Do you pay or does your client pay?
PROVISIONAL TAX PROCESSES
Most important of all who is a provisional taxpayer?
We will discuss in detail all the provisional tax processes from interpretation notes to the actual law and what changed in Covid-19 and what transpired in 2020. I will deal with the practical difficulties you will encounter! All the penalties and how to get them waived. Other aspects 1st 2nd and 3rd payments, 8% increase, who is liable, the timing problems, estimates, why you need an automated system. Payments and timing. The difference between practice and theory. Most important of all is the risk aversion procedures that you need to take care of whether you use a manual or automated system.
VAT RETURN PROCESSING
We will discuss how to ensure that you adhere to all the rules. New information about VAT Verification and the reversal of Vat Inputs. As a tax practitioner and tax adviser VAT is taking up so much of our time with all the aspects that happen, preparation, verification, audit and missed notices. We have to deal with refunds taking a long time or not being paid at all or even being reversed. And then having the difficulty of explaining this to our clients and sometimes not being able to charge. The Rappa case and businesses in controversial areas (that you should be aware of) that are always going to cause a problem..
TAX RETURN PRODUCTION
The most important aspect is to balance tax return production to meet the SARS deadlines and to engage with SARS to change the unworkable deadlines which imposed penalties.
I will discuss ITR12, ITR14 and ITR12 trust returns and the new auto assessment process. Comparisons between SARS e-filing and producing tax returns on a back office system. Managing the submission process and the most important things that need to be done first. Using task management or a CRM system to reduce risk. Retrieving assessments and correspondence. Measurements of your progress throughout the tax year.
EXERCISE OF DISCRETION IN CASE OF LATE OBJECTION OR APPEAL
I will discuss the interpretation note (the latest) on this aspect as I think many Tax Practitioners are falling foul in regard to not being able to make objections in time and deal with the mechanism on how to get around this, resulting in notices not being received and errors on the website.
STATEMENT OF ASSETS ON AN ITR12
The important detailed discussion on how this works and why this is so important to do for individuals and help in protecting your clients making them compliant. SARS will be implementing capital account reconciliation to catch under declared income in the near future.
Please note that the agenda may change depending on circumstances and on matters that may arise!
BACKGROUND IN ORDER TO RUN A TAX PRACTICE.
The necessary components to run a successful back office system in a tax compliance tax practice will be discussed. Background to automated back office systems and how the Tax Administration Act changes everything. How SARS are using automation to reduce the workload. Where we have come from. Why your accounting practice is tax-centric and why you have to make your tax practice risk averse as well as make it profitable especially during these hard times. We will trace the history from early days of e-Filing and why its imperative to ensure your tax clients are tax compliant.
We will discuss all controversial issues that have arisen during the last year!
REGISTERED TAX PRACTITIONERS
The requirements to be a Tax Practitioner and why this is so important. Ethics will be discussed in detail.
PAPERLESS AND REMOTE OFFICE
Why it is so important in the age of Covid-19 to be paperless and the tools you need to make it paperless, efficient, profitable and remote will be discussed.
COMMUNICATING WITH YOUR CLIENTS
Proper communication with your clients is key to running a successful risk averse practice. All the do’s and don’ts of communicating with your clients especially during Covid-19 will be dealt with. The concept of digital signatures and how this will go a long way to tracking and controlling communications with your taxpayer clients as well as guarantee that your client receives all your communications and confirms your submissions. Examples of letters will also be provided as part of your notes. We will provide full samples of the most important letters.
REDUCING RISK EXPOSURE IN A TAX PRACTICE
Why it is necessary to have a proper mandate that your client needs to sign - we will supply our updated mandate. We will discuss the steps you need to take in order to reduce your risk exposure. Letter writing has become crucial. Signing of tax returns – who needs to sign a return. Potential liability that could be incurred by a Tax Practitioner. E filing terms and conditions and some important history of e Filing.
COST OF RUNNING A TAX PRACTICE
Calculating the cost of running a tax practice in today's times has become very difficult as there are new exposures each and every day. We discuss various methods of calculating the cost of running your tax practice and what to do when you are exposed to unlimited cost (in hours) that has nothing to do with you. Do you pay or does your client pay?
PROVISIONAL TAX PROCESSES
Most important of all who is a provisional taxpayer?
We will discuss in detail all the provisional tax processes from interpretation notes to the actual law and what changed in Covid-19 and what transpired in 2020. I will deal with the practical difficulties you will encounter! All the penalties and how to get them waived. Other aspects 1st 2nd and 3rd payments, 8% increase, who is liable, the timing problems, estimates, why you need an automated system. Payments and timing. The difference between practice and theory. Most important of all is the risk aversion procedures that you need to take care of whether you use a manual or automated system.
VAT RETURN PROCESSING
We will discuss how to ensure that you adhere to all the rules. New information about VAT Verification and the reversal of Vat Inputs. As a tax practitioner and tax adviser VAT is taking up so much of our time with all the aspects that happen, preparation, verification, audit and missed notices. We have to deal with refunds taking a long time or not being paid at all or even being reversed. And then having the difficulty of explaining this to our clients and sometimes not being able to charge. The Rappa case and businesses in controversial areas (that you should be aware of) that are always going to cause a problem..
TAX RETURN PRODUCTION
The most important aspect is to balance tax return production to meet the SARS deadlines and to engage with SARS to change the unworkable deadlines which imposed penalties.
I will discuss ITR12, ITR14 and ITR12 trust returns and the new auto assessment process. Comparisons between SARS e-filing and producing tax returns on a back office system. Managing the submission process and the most important things that need to be done first. Using task management or a CRM system to reduce risk. Retrieving assessments and correspondence. Measurements of your progress throughout the tax year.
EXERCISE OF DISCRETION IN CASE OF LATE OBJECTION OR APPEAL
I will discuss the interpretation note (the latest) on this aspect as I think many Tax Practitioners are falling foul in regard to not being able to make objections in time and deal with the mechanism on how to get around this, resulting in notices not being received and errors on the website.
STATEMENT OF ASSETS ON AN ITR12
The important detailed discussion on how this works and why this is so important to do for individuals and help in protecting your clients making them compliant. SARS will be implementing capital account reconciliation to catch under declared income in the near future.
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Unit 201 2nd floor, 1410 Eglin, 14 Eglin Road, Sunninghill Sandton 2191
Telephone 0112624033 Fax 0112624036 [email protected] [email protected] [email protected] |
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