The death of an employee can be a devastating event in a company, particularly in smaller businesses where colleagues work together closely and have become like an extended “work” family. In times of pandemic employers unfortunately face an increased likelihood of an employee passing away and should be prepared to handle this event with the necessary respect and compassion and to keep the business running, while also ensuring that the various compliance and tax matters are addressed swiftly. In this article, we look at seven crucial issues to address immediately when an employee has died. This will not only ensure that the deceased’s family do not experience delays caused by the company but will also reassure other employees.

Statistics South Africa recorded 997 liquidations of companies and close corporations between January and June 2021, 44% up from the 763 corporates over the same period a year before, reflecting how tough the impact of the pandemic has been on the private sector. The medium and long term knock-on effects of the pandemic and restrictions on business activity will doubtless be even more detrimental, and the danger to businesses, particularly small businesses, should not be under-estimated. There are lessons to be drawn from businesses that survived, and it is important to note how they made it through one of the toughest economic climates in memory. We share four insights which every business should take note of in planning for the future…

Whether it’s referred to as the End of Financial Year or “EOFY”, Close of the Financial Period, Financial Year End or FYE, or simply ‘Year End’, this important time is just around the corner for many companies on the 28th of February. It is the end of the annual accounting period and an ideal opportunity to assess your company’s finances and performance. In this article, we find out why companies have a specified financial year end; why it is important; how to ensure your business ticks all the financial year end compliance and tax boxes; and how to reap the maximum benefits from an accurate and timely closing of the financial year.