In terms of the Companies Act, annual returns are payable to the Companies Office ("CIPC") annually, on the anniversary of your company's registration.
Annual returns are not the same as income tax returns. An income tax return deals with the income tax liability of your company. An annual return confirms your decision to remain in business for a further year and provides CIPC with your company's updated information.
The annual return payable is determined by your annual turnover as reflected on your latest approved financial statements.
- A company with an annual turnover of under R1-million will pay an annual return of R100*.
- A corporation with an annual turnover of under R50-million will also pay R100*.
*If you do not pay your annual returns on time:
- Penalties will be added if the annual return is not submitted within 30 days of its due date.
- Your company is then reflected as "in de-registration process".
- If you still do not pay CIPC: has a right to assume you are no longer trading and to de-register your company.
- De-registration has the legal effect of ending your company.
- Any immovable property owned by your company is forfeited to the State until you re-register your company! For more information on re-registration of your company see: https://hurdlehop.co.za/restoration-reinstatement-of-company-or-corporation-annual-returns/
If you provide CIPC with your contact details you should receive notifications reminding you to pay your annual returns. However, the responsibility is on you, as director, to know the annual returns are payable and to pay them.
NEED HELP PAYING YOUR ANNUAL RETURN?
This service includes:
- Submission and payment of your annual return
- A reminder in the following year that your annual return is due
(Our fees are payable in advance.)
Got a Question about annual returns?
Call or email me for more information.
Cell: 082 567 7496
Email: monicas@yhp.co.za
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