Individuals & Sole Proprietors — Personal Tax & Sole Prop Tax
Enquire today about our Individuals & Sole Proprietors
Individuals & Sole Proprietors
If you’re self-employed, freelancing, or running a lean sole proprietorship, your personal and business tax lives are joined at the hip. Staying on top of your returns and provisional payments is the simplest way to avoid SARS admin penalties, interest, and cash-flow shocks.
Smarter Accounting helps individuals and sole proprietors in Cape Town and across South Africa with clean books, compliant returns, and AI-assisted insights.
Who this is for
- Sole proprietors, freelancers, and independent contractors.
- Professionals with side-hustles or multiple income streams.
- Landlords (residential and short-stay/Airbnb).
- Investors with shares, unit trusts, crypto, or additional properties.
What we do for individuals & sole props
- ITR12 personal tax: preparation, review, and filing with supporting schedules.
- IRP6 provisional tax: accurate estimates, reminders, and cash-flow planning.
- Monthly bookkeeping for sole props: bank feeds, rules, reconciliations, monthly close.
- Rental income: residential and short-stay, correct deductions, and supporting records.
- Investments & assets: CGT summaries compiled from broker/exchange statements.
- VAT reality check: when VAT registration is compulsory vs strategic.
- AI-assisted reporting: dashboards, variance flags, and simple “what-if” scenarios.
How we work with you
- Kickoff & intake — checklist plus secure access to eFiling, bank feeds, and broker/export files.
- Clean & map — standardise transactions, tag income streams, and assign expenses into deductible buckets.
- Close & check — reconciliations, adjustments, and AI-assisted anomaly checks.
- Tax plan — provisional tax estimate, payment dates, and legal optimisation suggestions.
- File & confirm — submit IRP6 and ITR12, provide proof, and diarise next deadlines.
- Review & improve — periodic reviews so you never scramble at year-end.
Rental property — residential and short-stay
- Residential rentals are VAT-exempt but fully taxable as income.
- Short-stay/Airbnb can fall under ‘commercial accommodation’ and bring VAT into play as turnover grows.
- We help you track interest, levies, repairs vs improvements, body corporate accounts, and all the supporting documents SARS expects.
Investments & assets — handling CGT cleanly
- Capital gains tax (CGT) applies when you dispose of assets like shares, crypto, or non-primary residence property.
- Dividends and interest are reported per certificates, and annual exemptions can soften the tax impact.
- We reconcile and summarise your broker / exchange exports so your return is defensible and well-documented.
VAT & sole proprietors — plain language
- If your taxable turnover crosses the compulsory VAT threshold, you must register — and your admin changes.
- If most of your clients are VAT vendors, voluntary registration might help, but we’ll check the impact on your pricing and cash flow.
- Short-stay accommodation is not treated the same as long-term residential for VAT purposes — we help you avoid surprises.
What you receive from us
- Monthly or quarterly management pack: profit, cash flow, tax set-aside, and action points.
- IRP6 workings and submission proof for each provisional payment period.
- Year-end ITR12 return and supporting schedules.
- Rental and investment schedules that make answering SARS queries much easier.
About David Hartley & Smarter Accounting
Smarter Accounting combines professional accounting experience, cloud tools, and AI-assisted review. The aim is simple: keep your numbers clean, compliant, and useful enough that your decisions are based on facts, not feelings.
FAQs — quick answers
If you earn business income and are not purely on salary with full PAYE, SARS expects provisional tax (IRP6). This usually means two provisional payments plus your ITR12 at year-end.
It can be, if you have a dedicated workspace and correct apportionments. We’ll tell you honestly if the tax saving justifies the admin and audit exposure.
Short-stay accommodation can qualify as ‘commercial accommodation’. If your turnover grows, VAT may apply sooner than you expect and you need to adjust your pricing and paperwork.
Yes. When you dispose of crypto or other investments, CGT can apply. We use your broker or exchange exports to calculate gains and record them properly.
Ready to get your tax under control?
We can usually onboard new individual and sole proprietor clients within 24–48 hours, depending on how quickly records are supplied.
- Phone: +27 82 061 2300
- WhatsApp: +27 82 061 2300
- Email: info@smarteraccounting.co.za