How to run a business - EXPLAINED!!!

WHAT ALL BUSINESS OWNERS MUST KNOW!
In this video I discuss what responsibilitties business owners have in terms of basic compliance with SARS, CIPC, UIF and WCA.

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In this video I discussed what is expected from small business owners when running a business
- responibility to keep propper accounting records, including financial statements
- responsibility to file annual returns with CIPC once a year
- responsibility to file beneficial ownership returns with CIPC once a year
- responsibility to file two provisional tax returns and one final company tax return each year
- responsibility to register for PAYE once you become an employer
- responsibility to file PAYE every month
- responsibility to file a PAYE reconciliation every six months
- responsibility to register for VAT once your turnover reaches 1 million rrnd
- responsibility to register for UIF
- responsibility to file UIF returns each month
- responsibility to register for WCA
- responsibility to file a WCA return every year

0:00 introduction
1:16 - responsibility to keep proper records
4:10 - CIPC - which returns must be filed
6:00 - SARS - which returns must be filed
9:09 - UIF and WCA - which returns must be filed

The purpose is to create awareness for start up businesses, but it is important to get professional advice as what covered here is the basic requirement, and cenrtain businesses might have additional responsibilities