Do you need to submit your EMP501 return but are unsure of how to go about it? Look no further, as we have the step-by-step guide on how to submit EMP501 on eFiling.
What is EMP501?
Firstly, it is important to understand what EMP501 is. EMP501 is an employer's declaration of employees' tax certificates, usually submitted twice a year. The EMP501 submission also includes EMP601, which is an additional declaration for an employer who is exempt from submitting an EMP501 return.
Why do you need to submit it?
It is mandatory for employers to submit the EMP501 return to SARS, as it outlines the tax amounts deducted from employees' salaries, and ensures that employees' taxes are up to date. Failure to submit the EMP501 return on time may result in penalties and interest being charged by SARS.
How to submit EMP501 on eFiling
Step 1: Access the EMP501 return form
Log in to your eFiling profile and select the 'Returns' tab. From the drop-down menu, select 'Employer declarations/IRP5s', and then click on 'EMP501'.
Step 2: Complete the EMP501 return form
Ensure that all the necessary fields are completed on the EMP501 return form. This includes completing the employer and employee details, as well as the relevant tax information such as PAYE, SDL and UIF deductions.
Step 3: Submit the EMP501 return form
Once you have completed the EMP501 return form, ensure that all information is correct, and then submit it on eFiling. You will receive confirmation once your submission has been successful.
Tips for a successful submission
- Ensure that you have all the necessary information and documents in front of you before completing the EMP501 return form.
- Check that all the information provided is accurate and up to date.
- If you are unsure about any aspect of the EMP501 return, seek advice from a tax professional.
Submitting your EMP501 return on time is crucial to avoid penalties and interest being charged by SARS. By following these simple steps, you can ensure that your EMP501 submission is completed accurately and on time.