SARS to intensify action against tax offenders

Despite the fact that SARS has upheld their philosophy of education, service, and thereafter enforcement, they have noticed an increase in taxpayers not submitting their tax returns by the stipulated deadlines, and not settling their outstanding debt with SARS. This is not limited to the current tax year but includes substantial non-compliance across previous tax years. It is for this […]

Converting from conventional accounting software to cloud based accounting software

When we start speaking to clients about the potential move the cloud, we are usually met with uncertainty, as users are accustomed to their desktop software which they have been working on for a number of years. Some of the questions which we face on a daily basis include: “How do you get all my data from system X to […]

When and how to apply for Tax Directive – IRP3(a) and IRP3(s)

A Tax directive is issued in accordance with paragraph 9(1) of the Fourth Schedule. The tax directives are always issued in relation to a specific tax year. The tax directive percentage already takes into account expense claims and deductions that may be claimed on assessment – therefore, the tax directive percentage must be applied to remuneration and not balance of […]

Thuthuka Fund

MMS Group and the Thuthuka Bursary Fund – Together punching above our weight In line with our driving values: Connect, Understand, Solve, MMS is proud be partakers and contributors to the Thuthuka Bursary Fund. Through our involvement in this SAICA initiative, we assist students from disadvantaged communities in their accounting studies to obtain their CA (SA) qualification and contribute to […]

Why you should only use the services of a qualified accountant registered at an approved controlling body

A quite regular question that we as professionally qualified and registered accountants in practice receive, when dealing with both old and new clients, are as follows: “Does it really make difference if the accountant that I am using is a qualified and registered accountant? Surely as long as my accounts are taken care of and my returns are filed at […]

Directors duties

Directors of an organization are in a fiduciary relationship with that organization and should therefore always act in good faith towards that organization, and in the best interests of the organization. This fiduciary relationship forms the basis and the foundation from which all director duties emanate. Below is a summary of Common law duties and Companies Act duties (reference to […]

How to ‘Shop’ for the right business finance

Written by Barry Leonard – Funding Hub. MMS Group was granted permission to use this article by the author. SME business finance in South Africa has evolved over the years.  Not only has there been substantial growth in the number of B2B alternative lenders in the South African marketplace, but there has also been growth in the type, and diversity, […]

MMS Group is proud to announce that we recently partnered with the FD Centre

The FD Centre provides Part-time Finance Directors to entrepreneurial businesses, with turnovers ranging from R25 Million to R1.0 Billion, who don’t want, don’t need or can’t afford a full-time Finance Director, however recognise they need this skill-set on an ongoing basis or for particular situations as they arise.  Additionally, they provide an Interim CFO or FM solution to the Corporate […]

How to deal with a Department of Labour Inspection

Prepared by: Marilize Louwies (Director MMS) It is not uncommon for businesses to receive notices from the Department of Labour for an inspection at the business premises. It is also not uncommon for the inspection notice not to reveal what will be inspected and normally there is not much time afforded to prepare for these inspections. What can you expect […]

MEET OUR CAPE TOWN TEAM

Dirk Bester Dirk is a qualified Chartered Accountant (SA) and has over 10 years’ experience in accounting, tax, auditing, financial management, system and process implementation and improvement, which he gained while working at companies such as PwC and various subsidiaries of Imperial Holdings Limited. He has extensive knowledge and experience in the starting up, and management of, companies operating in […]