Mid-year recon – August 2012 due to SARS by 31 October 2012

The Bi-annual August 2012 EMP501 Declaration (PAYE reconciliation) is due to SARS on or before 31 October 2012.

The reconciliation relates to the 6 months’ transactions between 1 March 2012 to 31 August 2012 relating to PAYE/SDL and UIF.

SARS 8 point checklist:

• Submit declaration before the deadline to avoid penalties
• Use latest e@syfile Employer software available from the SARS website. Always ensure back-up of current data is done beforehand!
• Review IRP5/IT3(a) codes for new/re-activated source codes
• Request latest EMPSA for updated SARS statement of account to assist with the reconciliation
• Submit recon via correct channel – online (linked to SARS E-filing) or manually at any SARS branch office – remember your disk with IRP5 data!
• Duplicated submissions not accepted unless changed/new IRP5/IT3(a) data
• Use PAYE recon assistant to balance your reconciliation
• Contact SARS for latest e@syfile Employer software and queries relating to reconciliation

Late submission of the EMP501 return AND submission of omitted information/incomplete IRP5 certificates will result in severe penalties being levied.

SARS Income Tax numbers for all employees (regardless of income level) is part of the mandatory information required by SARS – submission of the Bi-Annual August 2012 IRP5/IT3 certificate without the mandatory information will be seen as incomplete information and penalties will be levied by SARS (even if submitted before the deadline).

Please contact our offices for any assistance in this regard.