Can hardly believe it is that time of the year again .... Time to do your yearly Employees Recon and submit to SARS so that IRP 5s can be distributed and your staff can submit their tax returns.
Below are some tips to make the whole process run smoothly:
Step by Step:
Step 1: Ensure that all your staff information is up to date on your payroll eg tax reference numbers, identity numbers, personal addresses and telephone numbers.
Step 2: Create an excel spreadsheet something like this one below:
This will enable you to see if there are any shortfalls that you should pay to SARS.
Step 2: Login to SARS Efiling and put the amounts that you have submitted on a monthly basis from March 2020 to February 2021 that is what you paid over to SARS on behalf of your employees for PAYE, UIF and SDL in the spreadsheet.
Step 3: Login to your Payroll System and record what amounts were deducted in each month for your employees. Most Payroll systems will give you a year end report.
Step 2: If you have more that 50 employees you will need to download the Sars e@syfile-employer software which can be find on the SARS website : e@syFileâ„¢ Employer (sarsefiling.co.za).
Step 3: If you have less than 50 employees you can submit your return directly on SARS Efiling but I would recommend you use SARS Easyfile.
Step 4: You will need to download your year end file from your Payroll system . Most Payroll system will advise you on the best way to get the require information out of the system in the correct format to be uploaded into SARS Easyfile.
Step 5: Ensure that you save the IRP 5s that are generated from your payroll system for each individual employee so that you can forward these to your employees once you are finished with the submission process.
Step 6: Login to the SARS e@syfile software and upload your payroll file into the SARS e@syfile Software. The software is easy to use and should basically do the recon for you and once you have submitted it you are finally done!