If you are an employer using Sage Pastel Payroll you may experience a tendency to wait until the very end to submit the EMP501 SARS declarations. This is then exacerbated by a delay in obtaining employee’s income tax numbers to enter into Sage Pastel Payroll, especially for those who no longer work for the company.
In contradiction to popular opinion, you CAN and SHOULD submit your EMP501 declarations before the SARS Bi-Annual Submission Deadline which is the 31st of October. Preferably not on the 31st where a monumental influx of submissions often occur.
If you are not been able to enter all of your employee income tax numbers into Sage Pastel Payroll, do not be caught out and charged an additional 10% penalty on your gross PAYE total, which could total in excess of R100 000, simply SUBMIT.
This does not mean that you are off the proverbial hook and will not be charged SARS Administrative Penalties but in the very least you will avoid the immediate 10% penalty on your gross PAYE to date.
If you have not done your monthly EMP201’s, Bi-Annual and Full year End EMP501 and IRP5’s as we at End 2 End Business Solutions have for 98% of our clients, simply contact Francois for immediate support.