Practice Management Conference for Accountants – certified for CPD – 13 to 15 Oct 2015

Success strategies for building and sustaining a profitable accountancy practice prac man conf

Running a successful practice requires responding efficiently to existing client needs whilst focusing on future opportunities, and at the same time attending to the daily operational requirements of the business. This requires a special kind of person with special kinds of skills. This conference will enhance your knowledge and aid you in learning from your peers and industry experts how to marry technical insights with marketing and business skills to create a successful, profitable practice.

The conference programme is currently in development but will cover your firm’s core elements of success:

  • Accounting and Auditing Policy and Regulation Update
  • Business Models and Growth Strategies
  • Client Engagement & Management
  • Technology Innovations and Trends
  • People Management and Practice Operations

Speakers who have already confirmed their participation include:

  • Michael Sass, Accountant-General, National Treasury
  • Suresh Kana, Chairperson, Financial Reporting Standards Council (FRSC)
  • Linda de Beer, Immediate Past Chairman, International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group
  • Beverley Bahlmann, Senior Technical Manager, International Auditing and Assurance Standards Board (IAASB)
  • Berend van Aswegen, Member, SMP Committee, International Federation of Accountants (IFAC)
  • Mark Lloydbottom, Practice Management Consultant, UK
  • Trudy Naidoo, Associate Director, Assurance, Ernst & Young
  • Judy Robison, Director, Mazars
  • Coenie Middel, Founder & Partner, Middel & Partners
  • Ryan Smit, Director, Epicco

When

  • 13 – 15 October 2015
  • Bytes Conference Centre, Midrand

Click here for more information and check out the price list over here.

 

SAPA: BCEA workshops – 5 CPD hours – Oct 2015

Course content 

1. Purpose and overview

2. Who is covered?

3. Regulation of working hours:

  • Normal, overtime, Sunday, PH

4. Leave:

  • Annual, sick, maternity, family responsibility
  • Other leave – paternity, sports, etc.

5. Contracts of employment

6. Payslips:

  • The legal requirements
  • The inferred responsibility
  • Employment and termination guidelines
  • Sectoral determinations

7. Monitoring and enforcement by Dept. of Labour

Cost

  • SAPA members: R 1,280.00
  • Non-members: R 1,950.00

When and where:

All workshops will run from 09h00 to 15h30 – registration from 08h30.

  • 13 October 2015 – Cape Town, V&A Waterfront Hotel
  • 15 October 2015 – Durban, Suncoast Casino
  • 20 October 2015 – Johannesburg, House of Pharaohs

Click here for registration.

 

Taxpayer victory as “pay now, argue later” principle successfully challenged

Article source: ENSafrica 

In terms of the “pay now, argue later” principle, the South African Revenue Service (SARS) is entitled to collect amounts owing by a taxpayer in terms of an assessment.

In terms of section 164 of the Tax Administration Act, 2011, a taxpayer may request SARS to suspend the payment of tax.

If SARS does not allow the suspension, then SARS’s decision in this regard may be reviewed in terms of the provisions of the Promotion of Administrative Justice Act, 2000. However, since it may take several months for such review application to be heard, it is necessary to either agree with SARS that it will not collect the disputed tax until the finalisation of the review application or apply for an interdict prohibiting SARS from collecting the disputed tax.

Depending on the timing of the payment required by SARS, it may be necessary to obtain such an interdict on an urgent basis.

It is notoriously difficult to obtain urgent interdictory relief, particularly in matters dealing with the suspension of payment, given the “pay now, argue later” principle.

However, on 31 August ENSafrica successfully obtained such an urgent interdict against SARS in the high court, preventing it from collecting over R1-billion of tax pending the review.

This is a ground-breaking judgment as it shows that, despite the “pay now, argue later” principle, it is possible to ensure that, pending the finalisation of the review application, no payment is made to SARS.

 

Betty Bookkeeper explains if a tour operator should add VAT on invoices to international clients – Sep 2015

Hi Betty 

I have a client in the tourism industry that is at loggerheads with SARS at the moment over VAT. She doesn’t put VAT on her invoices as the clients are overseas at the time when arranging the tour for them. She would for example, invoice a client in Germany R 20,000 upfront. The client would make a payment into her account, and she would only then pay the vendors in SA for the client’s trip. It may be car hire, accommodation, and a game drive, totaling R 15,000, after discounts worth R 5,000.

Effectively her gross profit is therefore R 5,000. She claims the VAT on the local vendor’s invoices, and then submits a claim to SARS.

My question is, should she be putting VAT on her invoices to the clients?

I look forward to your reply.

Kind regards,
Al


Hi Al

The Interpretation Note 42 – which SARS issued specifically to deal with VAT treatment of amounts charged by local tour operators to foreign clients – states that the charge to the foreign client must be broken down into its component parts for VAT purposes and the VAT treatment of each part is as follows:

Tour operators fees / commission:
The fees/commission charged by the local entrepreneur for the service of arranging the tour package will be zero-rated according to section 11(2)(ℓ) of the VAT Act if the foreign entrepreneur and the foreign tourist, i.e. the recipients, are outside the Republic at the time the service of arranging the tour package is rendered.

Package:

  • International air travel – generally zero-rated
  • Domestic air travel – standard-rated supply
  • Domestic road/rail travel – exempt supply
  • Accommodation in South Africa – standard-rated supply where less than 28 consecutive days

It appears that where a foreign client will be consuming services in South Africa (e.g. accommodation), VAT will be chargeable as long as it is not a supply that is specifically exempted. Since the foreign client is consuming the travel agents services (of arranging the tour) while still outside SA, the fees that relate to the commission/profit of the agent can be zero-rated. As such, it appears that she should be putting VAT on the necessary parts of her invoice to her clients. It is only the fee for the service of arranging the tour that can be zero-rated, i.e. the R 5,000 in your example, not the component parts that make up the balance that she invoices her foreign clients.

Hope that helps!


Don’t forget that I’m here to answer your questions about the ICBA, or just queries about your accounting at work. All you have to do is email me!

 

Practice Management Conference for Accountants – certified for CPD – 13 to 15 Oct 2015

Success strategies for building and sustaining a profitable accountancy practice prac man conf

Running a successful practice requires responding efficiently to existing client needs whilst focusing on future opportunities, and at the same time attending to the daily operational requirements of the business. This requires a special kind of person with special kinds of skills. This conference will enhance your knowledge and aid you in learning from your peers and industry experts how to marry technical insights with marketing and business skills to create a successful, profitable practice.

The conference programme is currently in development but will cover your firm’s core elements of success:

  • Accounting and Auditing Policy and Regulation Update
  • Business Models and Growth Strategies
  • Client Engagement & Management
  • Technology Innovations and Trends
  • People Management and Practice Operations

Speakers who have already confirmed their participation include:

  • Michael Sass, Accountant-General, National Treasury
  • Suresh Kana, Chairperson, Financial Reporting Standards Council (FRSC)
  • Linda de Beer, Immediate Past Chairman, International Auditing and Assurance Standards Board (IAASB) Consultative Advisory Group
  • Beverley Bahlmann, Senior Technical Manager, International Auditing and Assurance Standards Board (IAASB)
  • Berend van Aswegen, Member, SMP Committee, International Federation of Accountants (IFAC)
  • Mark Lloydbottom, Practice Management Consultant, UK
  • Trudy Naidoo, Associate Director, Assurance, Ernst & Young
  • Judy Robison, Director, Mazars
  • Coenie Middel, Founder & Partner, Middel & Partners
  • Ryan Smit, Director, Epicco

When

  • 13 – 15 October 2015
  • Bytes Conference Centre, Midrand

Click here for more information and check out the price list over here.

 

Intela Training Programme for ICBA members – Feb 2016

Oxbridge Training Institute (OTI) is offering a fully-funded programme for ICBA members who wish to become registered oxbridgeprofessional tax practitioners, and who meet Intela’s admission requirements. The Intela Training Programme is funded by Fasset and presented by the University of Pretoria and OTI.

How the programme works

  • Participants attend 18 classes (on Saturdays), starting in February 2016.
  • Additional after-hours tutor-assisted classes will be available.
  • Classes will be held in Pretoria and Polokwane.
  • Participants will write a final examination and a SAIT knowledge assessment in November 2016 – enabling them to register as professional members of SAIT upon successful completion.
  • Participants will receive a form of salary to attend classes.

Admission requirements

  • Prospective delegates should at least have a National Senior Certificate (Grade 12) and relevant work experience in a financial environment (preferably tax compliance),

OR

  • a relevant bachelor’s degree or diploma in Accounting.

Closing date for registration

  • 30 September 2015
  • Click here for more information and registration.

 

Battling to find clients for your bookkeeping/accounting practice?

If finding clients is a challenge for you, help is at hand! Check out this FREE 90 minute webinar titled ‘How to quickly and easily generate high paying clients into your accounting practice whenever YOU want’, run by James Molfetas.

James is a chartered accountant with 25 years’ experience as a financial manager, director and audit partner. He left the profession in 2011 to study internet marketing and now teaches hundreds of financial professionals how to improve their practices using his online methods.

He has also written a book called Accounting Clients on Tap, available as hardcopy and on Kindle here.

 

Webinar: Reduce your tax risk exposure – 2 CPD hours – 29 Sep 2015

Overview 

When a tax practitioner clicks the submit button on a tax return, do they realise that there is a possibility that SARS could hold them personally liable for any miss-statement on the tax return? This webinar will discuss a tax practitioner’s risk exposure, and will point out all the ins and outs on how to protect yourself from liability.

Course content

The following content will be covered during this webinar:

  • The liability of the tax practitioner
  • The effect of signing the tax return on behalf of your client
  • The effect of clicking on the submit button when filing
  • When practitioners could incur liability
  • The e Filing terms and conditions
  • Engagement letters
  • The signed disclaimer you must have before you submit a tax return
  • When does an assessment prescribe and how this affects the tax practitioner
  • The effect of leaving out the statement of assets
  • Why you need to do the capital reconciliation
  • Why you need a management system to manage the status of returns

Continuing Professional Development (CPD)

This webinar and successful completion of the online assessment will secure 2 hours verifiable output CPD points/units for members of the following professional bodies: SAICA, CIMA, SAIPA, SAIBA, ACCA, FPI, CSSA, LSSA, FISA, ICBA, IAC, AAT.

Cost

  • 2015 monthly CPD subscribers: Free (use your promo code when registering for this webinar)
  • SAIT members: R 370.00
  • Non-members: R 450.00

When and where

  • 29 September 2015
  • From 15h00 until 17h00
  • Online webinar session

Click here for more information and registration.

 

Practical workshop: VAT – certified for CPD – Oct/Nov 2015

This one-day, practical workshop is designed for individuals that are required to calculate and submit their company’s VAT returns, and who have no or very little understanding/knowledge of how VAT works.

This workshop introduces a totally practical approach to VAT and it’s components so that the calculation and subsequent submission and payment to SARS are done accurately.

You will be able to recognise and understand when VAT on sales (OUTPUT VAT) becomes payable to SARS, and be more aware and informed of when VAT on purchases (INPUT VAT) may be deducted and when not.

With application of the practical information obtained from this workshop, you will be able to do accurate calculations of VAT for submissions to SARS to avoid overpayments.

This workshop is designed for entrepreneurs, financial, bookkeeping staff and persons responsible for calculating and submitting VAT. The following topics will be covered:

  • South Africa: VAT – How it applies in South Africa
  • Significant developments
  • Scope and rates
  • Registration
  • VAT grouping
  • Returns
  • VAT recovery
  • International supplies of goods and services
  • Amount subject to VAT
  • Tax points
  • Invoices (What can be deducted/claimed and what not)
  • Transfers of business
  • Options to tax
  • Head office and branch transactions
  • Bad debt
  • Anti-avoidance
  • Penalty regime
  • Tax authorities

This workshop is accredited by the Institute of Certified Bookkeepers and Accountants (ICBA) for CPD points.

Cost

  • R 1,750.00 (incl. VAT)

When and where

  • Regus Conference Centre, Willowbridge, Cape Town – 6 October
  • Westville, KZN – 14 October
  • Midrand Conference Centre, Midrand, Gauteng – 11 November

Click here for more information and bookings.

 

 

SARS webinar: VAT regulation and requirements for voluntary registration – 2 CPD hours – 23 Sep 2015

Overview 

This SARS technical webinar will discuss new VAT regulations and requirements for voluntary registration.

Continuing Professional Development (CPD)

Webinar participation and completion of the online assessment will secure 2 hours verifiable output CPD.

Cost

  • Free for SARS registered tax practitioners and SAIT members.

When and where

The same content will be covered in two separate sessions on 23 September 2015:

1st session

2nd session