Terms & Conditions – Fees:

We have four different fee structures and each structure has its own set of rules. Below you will find the terms and regulations for each structure.

Structures & Terms for each structure

1.Fixed Price Agreement Clients:

Business clients that pay a fixed monthly fee which include certain services as per quotation and agreed upon to upfront. These clients already get a 7% discount included in the pricing, and it is important that they adhere to the rules, as these fees are used internally by us, to assist us with cash flow and budgeting, if you pay late then we battle to pay salaries, rent and other important expenses we need to deliver services.

  • Our fees are due and payable within 5 days following the date of the invoice unless otherwise noted.
  • In the event that the payment date falls on a Saturday, Sunday or recognized South African public holiday, the payment will automatically be the first prior ordinary business day.
  • The discount of 7%, received upfront, will be revoked if payments are not received within 5 days following the invoice date.
  • If you are on a monthly fee arrangement, these reflect the on-going nature of accounting and tax service provision, and are not refundable if the engagement is terminated part-way through a financial year.

Ad Hoc & Individuals

2.Tax Services, Company Secretarial Services & Payroll Services

  • Our fees are due and payable on receipt unless otherwise noted.
  • In the event that the payment date falls on a Saturday, Sunday or recognized South African public holiday, the payment will automatically be the first prior ordinary business day.
  • Fees are calculated on a tariff basis for Tax-, CIPC-, & Payroll- Services, unless otherwise noted.
  • These rates are available on request at the time matters are specifically referred to us.
  • Income Tax Returns and CIPC documents will only be submitted to SARS and CIPC once full account has been settled and a proper Tax Invoice is issued.

3.Annual Financial Statements and Bookkeeping Services

  • Our fees are due and payable on receipt unless otherwise noted.
  • In the event that the payment date falls on a Saturday, Sunday or recognized South African public holiday, the payment will automatically be the first prior ordinary business day.
  • It is our usual practice to provide estimates of our fees in advance of the work commencing and we shall require payments on account as our work progresses.
  • Fees are based on the time spent on your affairs by my Principals and staff, and on the levels of skill and responsibility involved, the nature and complexity of the services and the resources required to complete the engagement. These fees may differ from estimates that may have been supplied, of which estimates will only be provisional.
  • An estimation of the amount to be charged for financial statements will be made and 50% of such an amount must be paid as a deposit prior to the commencement of the work necessary to produce these statements.
  • Once the work has been completes a final account will be drawn and presented to the client when he signs such financial statements.
  • No financial statements will be released to the client, unless his/her accounts has been fully settled.
  • Stringent reporting requirements or deadlines imposed by you might require work to be carried out at a higher level than usual or outside normal working hours, which may result in increased costs.
  • Additional fees may also result from material changes in the services or from difficulties in obtaining information, which could not reasonably have been foreseen.
  • Our current maximum and minimum rates for normal work within normal working hours applicable from time to time are available on request at the time matters are specifically referred to us.

4.Consultation Fees

  • Consultation fees will be charged based on time booked for the consultation.
  • It will be payable upfront.
  • If a consultation was booked and the consultation was not cancelled by yourself within prescribed time, you will be liable for the consultation fee as booked.
  • Our current maximum and minimum rates for consultations during normal working hours are  available on request at the time matters are specifically referred to us.
  • Free Initial Consultations (New Clients) – Free first 15 minutes, thereafter as per our normal rates that is available on request.

Other important notes all structures

We will render invoices in respect of the services comprising fees, disbursements and VAT thereon (where appropriate), together with any other foreign taxes (if applicable) ('fees') that might be payable thereon.

  • Disbursements in respect of travel expenses, photocopies, stationery, revenue stamps, postage, e‑mails, and telephone calls will be recoverable at our predetermined rates.
  • Our fee estimate is based on the assumption that the information we require is made available to us in accordance with the agreed timetables, and that key executives and personnel are available during the course of our work. 
  • If delay or any other problems beyond our control occurs, this may result in additional fees for which invoices will be raised on the above basis.
  • We will be entitled to raise fees upon delivery as set out above.
  • In return for the delivery of the services by us, you will be required to pay our fees, without any right of set off, on presentation of our invoice.
  • In the event that you are not in agreement with any fee raised you will notify us in writing of your objection within 5 working days of our dispatch of the invoice.
  • Failure to do so will constitute acceptance of the fee.
  • Notwithstanding anything to the contrary contained herein, should our accrued fees reach a level which we consider to be material, such accrued fees will become due and payable immediately upon presentation of our invoice, failing which, the rendering of all further professional services will be suspended pending receipt of payment.
  • In the event of your appointing an alternative firm in our stead, or otherwise terminating our mandate, we will be entitled to raise a fee upon receipt of such notification for an amount adequate to cover all work done to date and not yet billed, at our standard charge out rates, including disbursements incurred.
  • In such event you undertake to settle our account in full prior to us handing over of books and records to you or to our successor.
  • Our fees will be inclusive of Value Added Tax which will rank for deduction as input tax by registered vendors.
  • Without prejudice to any other rights that we may have in law, we reserve the right to suspend or terminate the performance of the services or any part thereof to you immediately, at any time, with or without notice, should payment of any of our fees become overdue.
  • The fees will be subject to review by us each year and will vary with a number of factors, including the extent of the assistance we receive from members of staff in preparing routine schedules and analyses.
  • It is our usual practice to provide estimates of our fees in advance of the work commencing and we shall require payments on account as our work progresses.

Secure Payments can be made via Payfast by using PAY ONLINE OR CREDIT CARD link on invoice, Credit-, Cheque Card, instant EFT, Masterpass and Debit Cards, or by normal EFT or Cash are accepted. Deposits are to be rendered to the following deposit account:

Name of Account: Taxrek Professional Services

Bank name: First National Bank

Branch name: Willowbridge

Branch number: 250655

Account number: 62330171456

Reference number: Your name

We will be entitled to charge interest on all amounts outstanding, for whatsoever reason, for more than 14 days from the date of presentation of our invoice at 3% above FNB overdraft rates at any given time as well as a monthly admin fee of R25.00 per month until invoice is paid. Such interest will be calculated on a monthly basis.

All payments will be allocated first as to interest, then as to outlays, then to the longest outstanding fee.