Author Archives: info

Risk Management

We aim to add value and improve operations through a systematic and disciplined approach to evaluating and improving effectiveness of risk management, control and governance processes.

We provide an independent risk assessment of the business, and an independent examination of the activities of the business.

It is vital that management understand all the risk associated with the business and have considered the consequences of these risks.

It is management responsibility to implement a good risk management system that will ensure your system of internal controls is effective and efficient.


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Income Tax

Tax Compliance

Our Income Tax Department Services include all aspects of documentation completion and liaison with the South African Revenue Services (SARS).  Income Tax returns are completed and supervised by qualified personnel and the administration process monitored by our in-house Database Management Systems.

In the environment of ever-changing taxation law, we are constantly upgrading our knowledge and reinforcing our contact with income tax authorities by representation on relevant SARS committees.

SARS Facilitation and Negotiation

As the tax administration system becomes more involved and onerous, it becomes efficient to use a specialist that understands the official and unofficial procedures of SARS to perform certain interactions with SARS and negotiate on behalf of our clients.

We are well positioned to service you on this level based on the following:

  • Our in depth understanding of the procedures and requirements of SARS
  • Our good reputation with SARS in terms of integrity and honesty
  • Our understanding of the hierarchy of SARS and authority levels
  • Our established relationships with existing SARS officials
  • Our clear understanding of the taxpayer’s rights
  • Our in depth knowledge of the Income Tax Act

As a result we offer a service to facilitate routine and non-routine communication with SARS.  This would typically include:

  • Attending to demand from SARS
  • Assistance with tax auditors (VAT, PAYE and INCOME TAX)
  • Negotiations regarding reducing penalties and interest
  • Raising objections and related appeals
  • Obtaining SARS rulings on specific issues
  • Registration for various taxes (VAT, PAYE)
  • Obtaining tax directives
  • Obtaining tax clearance certificates


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Trust and Estate Planning

A Trust can be a very effective tool in ensuring your assets are protected against future attack from creditors as well as a tool to minimise Estate Duty.  It is essential however that the trust deed is properly formulated and takes into account all current tax legislation.  This will ensure that all the potential benefits of a trust are exploited.

When considering the appropriateness of a trust, a review of the individuals’ unique position and assets concern is essential.

We make us of highly qualified specialists to advise clients on the most appropriate methods and vehicles to achieve efficient estate planning.

This would include:

  • Registration of Local and Offshore Trusts
  • Administration of Deceased Estates
  • Portfolio Analysis and Investment Risk Assessment (Outsourced)
  • Portfolio Restructuring (Outsourced)

The most important characteristic of a trust is the protection of its assets from creditors of the Trustees.  This means that in a court of law creditors or the state as part of a deceased estate cannot penetrate the Trust.

As trustees it is imperative that you do your utmost to protect this status by maintaining the required records to establish the trust as a separate legal entity.  This does not only mean adequate accounting records, Annual Financial Statement and Tax returns, but also a register of minutes and resolutions.


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Company Secretarial Services

There is an increasing need for South African companies to improve their corporate governance practices.  High quality company secretarial practices and records are fundamental to this process.

Outsourcing the onerous administrative and Para-legal responsibilities of a company secretary is often more time and cost effective for the entity than appointing an in-house secretary.

As registered agents with CIPC, we are able to affect fast and efficient company registrations and statutory amendments.  Our office liaises directly with the CIPC office on a daily basis.  All documentation is hand delivered and collected every second working day.

Our company secretarial staff has the expertise and experience to manage the administrative process as well as advice on corporate governance procedures.

We perform the full company secretarial function and our services include:

  • Company and Close Corporate Registrations
  • Appointment of Directors and Company Officers
  • Change of Registered Names
  • Share Transactions
  • Changes to Company Statutory Documentation
  • All Other Company Statutory Amendments
  • Preparation of Documentation for Shareholder Meetings
  • Attendance and Minute Taking at Shareholder Meetings
  • Audit Review of Company Secretarial Records
  • Consulting on Required Procedures for Various Company Secretarial Transactions
  • External Confirmations of Shareholding and Other Secretarial Records
  • Lodgement of Annual CIPRO Returns


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Valuations, Business Plans, Due Diligence, Management Accounting and Reporting

  • Business Valuations

Business valuations are required for a number of reasons including acquisition, restructuring, sale, merger, estate duty, litigation, collateral for loans and forced shareholder exists.  Many business people can apply a Price/Equity ratio to a business or a turnover factor for an industry and determine a corporate value.  We however believe that the valuation process demand a far more in depth a scientific approach.

We utilize a valuation model that has been designed and tested by experts in the field of valuations.  Our model of valuation is based on the projected sustainable free cash flows.  In essence this means that the company results are reviewed and adjusted to determine what could be expected (based on history) as a sustainable profit flow.  Various risks and growth factors are considered, and using this sustainable profit, the company cash flows are projected into the future to an expected survival date.  The dividend flows (after STC) are then considered as the returns the investor could expect.  This is then present valued.  The residual value of assets on termination date is also included.

The result is a valuation that is based on sound professional views and can be presented as having substance and credibility.


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Purchases and Sales of Business

Due to our exposure to many clients in many different industries we can assist in matching potential buyers and sellers.

We also have much experience in the sale negotiation and can advise and support clients through the process and legal agreements.

  • Business Plans

There are two primary objectives for preparing business plans:

  • To obtain funding that is essential for development and growth of the business
  • To provide a plan for early strategic and corporate development

A well-designed business plan provides an operational framework that allows the business to enjoy distinct competitive advantages.  This in turn should result in increased profit for the business.

A well-developed business plan will serve as a:

  • Action plan for the next 12 months
  • Roadmap for the next 2 to 3 years
  • Performance tool on an on-going basis
  • Business Promotions tool

In order for your business plan to be effective you will need to follow the plan and review it periodically.

A business plan should provide a strategic vision for the business as well as the well-defined strategies for areas such as marketing, organisational structure, pricing, management, shareholding, and products and services.

We offer a service to assist clients in preparing Business Plans and our professional advice on the financial elements of the plan

Management Accounting and Reporting

Management accounting and reporting is essential to all businesses.  The success and profitability of a business can be severely affected by lack of good management reporting.

Management reporting needs to be tailored to the uniqueness of the company and designed in a format that is comprehensible and useful to management.

Business Restructuring

Our business experience has equipped us with the knowledge of how best to structure a company, or group of companies, to obtain the most favourable tax treatment and legal protection.  Very often good structuring can achieve a number of business objectives that can assist in wealth creation and facilitate the entrance of new shareholders.

Due Diligence

When considering the purchase of a business, there are various factors that need to be considered; financial, deal structure, labour issues, VAT, etc.  However, the most important aspect of any purchase is the Due Diligence process.

A Due Diligence is an investigation or audit of a potential investment.  For investors it serves to confirm all material facts with regard to the sale, and very often sale agreements are dependent upon the results of a Due Diligence exercise.

This procedure is highly recommended, as it is imperative to ensure that, before entering into a sale transaction, you have a good understanding of the business operation and any obligations and liabilities that may arise as a result of the purchase.  Very often a Corporate Valuation is also commissioned along with the Due Diligence.  This combination is very effective to provide the Buyer with the required levels of comfort and confirmations of the Sellers assertions.  Most valuations are prepared on a Free Cash Flow method, which required a sustainable profit computation.  The Due Diligence process will determine the most accurate sustainable profit figure.

These investigations are tailored to the circumstances of the parties involved and to the specific transaction.  However, the Due Diligence process would typically cover a review of the following:

  • Accounting Records
  • Management
  • Control Environment
  • Information Technology
  • Budgeting and Forecasts
  • Foreign Exchange Risk
  • Litigation Risk
  • Existence and sustainability of Sales
  • An Analysis of Financial Results
  • Review and Analysis of Fixed Assets and Associated Liabilities
  • Existence and Valuation of Inventory
  • Existence and Recoverability of Debtors
  • Completeness of Creditors
  • All Statutory Tax Obligations and Compliance
  • Labour Obligations


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