SMTAX

Professional Annual Financial Statements (AFS) & Statutory Compliance.
​from only R6000 (once-off)       

Ensure your business remains compliant with the Companies Act and SARS. Our professional accountants draft bank-approved Annual Financial Statements that provide a clear view of your financial health, essential for tax submissions and funding applications.

Get Customised Quote

SAICA/SAIBA Regulated | Bank Approved | Trusted by +70 000 SMEs

Rated  5-star by entrepreneurs

Trusted by +70 000 SMEs

Stars

"Very easy and user friendly to use so if there was a 10 star rating it would have gotten it from me for the service I recieved" 

Warren Frieselaar

Stars

"It was quick and hassle free less than 10min. Keep it that way.thanks SMTAX"

Gert Louw 

Stars

"SMTAX is very helpful and easy to apply quick & fast"

Nkululeko Sithole

Stars

"Easy online application. Totally affordable rates for small business , personal human response when making contact. Stuck to deadlines indicated.""

CEO: Homemade CPT

Stars

"The service i received from Smtax was professional and the representative I spoke with was patient and answered all my questions. Great service and very convenient."

Sonwabe Mhletywa

Stars

"It was a wonderful experience working with you guys. Thank you so much, hoping to work with  you guys again. I received all my documents, and I am currently waiting for Nedbank to call me regarding the business account. Thank you so much, you deserve my 5 stars."

Kgosi Lentswe Macogo

Stars

"The service i received from Smtax was professional and the representative I spoke with was patient and answered all my questions. Great service and very convenient."

Sonwabe Mhletywa

What are Annual Financial Statements (AFS)?

Annual Financial Statements (AFS) are a formal record of your business’s financial activities over a 12-month period (the financial year). They are not just "reports"—they are legal documents used to submit your Company Income Tax Return (ITR14) to SARS and to fulfil your annual CIPC filing obligations. Financial Statements are also used by other stakeholders—including shareholders, banks, and regulators—to assess the entity’s profitability, liquidity, and solvency.

There are three primary types of Annual Financial Statements in South Africa. The specific version your company requires is determined by your Public Interest Score (PIS)—a calculation based on your turnover, number of employees, and third-party liabilities.

  • Independent Compilation: This is the most common format for SMEs and owner-managed private companies with a low Public Interest Score. A professional accountant compiles the financial data provided by management into a standard format. While it offers no formal "assurance" to external parties, it is the standard requirement for tax compliance and internal management.
  • Independent Review: This is required for medium-sized companies or those whose AFS are internally compiled by the company itself. It provides "limited assurance" to stakeholders. The reviewer performs specific analytical procedures and inquiries to ensure there are no material modifications needed to the statements. It is often requested by banks for mid-level financing.
  • Audited Financial Statements: This is the highest level of assurance and is mandatory for public companies or large private companies with a high Public Interest Score (typically 350 or more). An external auditor performs rigorous testing and physical verification of data to provide "reasonable assurance" that the financial statements are free from material misstatement.


How does the process work ?

Step 1: Online Application & PIS Calculation

Click "Get Quote" to provide your basic company details. Our team will immediately calculate your Public Interest Score (PIS) to confirm whether you require a Compilation, Independent Review, or Audit.

Step 2: Custom Quote & Engagement

You will receive a transparent, once-off quote based on your business size and the required level of reporting. Once accepted, you’ll be introduced to your dedicated professional accountant.

Step 3: Secure Document Submission

Upload your financial records—such as your trial balance, bank statements, and asset register—via our secure platform. Don't have a trial balance? Our bookkeepers can assist in getting your records up to date first.

Step 4: Review, Sign-off & Delivery

We draft your Annual Financial Statements for your review. Once approved, we issue the final reports, ready for your SARS submission, CIPC  filing and other stakeholder requirements.

Click Here to Get Quote

Annual Financial Statement Add-Ons

Complete your year-end requirements by pairing your Annual Financial Statements with these critical statutory services.

Bookkeeping

Missing a Trial Balance? If your records aren't up to date, we can’t draft your financials. Our team will clean up your books, reconcile your accounts, and produce the General Ledger and Trial Balance needed to finalise your AFS.

Learn More

Income Tax Return

The Income Statement in your AFS contains a Tax Expense line item that must be calculated accurately. We handle the full tax computation and submit your ITR14 to SARS to ensure your tax liability is correctly reported.

Learn More

CIPC Annual Return

To keep your company in "Good Standing," you must submit your annual revenue to CIPC. We use your finalized AFS figures to file your CIPC Annual Return, ensuring your company is not deregistered.

Learn More

Monthly Payroll

Ensure your financial statements accurately reflect your employee costs. We manage your monthly payroll, ensure UIF and COIDA submissions are complete, and reconcile these figures against your year-end totals.

Learn More

Monthly Compliance

 Avoid year-end stress by moving to a bundled monthly package. This includes ongoing Bookkeeping, AFS preparation, Tax Compliance, and CIPC filings in one affordable monthly fee.

Learn More

 Accounting Software

Xero allows for automated bank feeds and real-time collaboration with your accountant, making your future Annual Financial Statements faster and more affordable to produce

Learn More

Performance Report

hile AFS tell you what happened, our Performance Report tells you why. This detailed add-on provides deep-dive analytics into your profit margins, cash flow cycles, and expense ratios.

Learn More

VAT Registration

If your company’s annual turnover has exceeded R2.3 million, VAT registration is legally compulsory. We handle the entire application process for you to avoid penalties for non-registration.

Learn More

Why Choose Us?

Accredited Professionals 

Your financial statements are drafted and reviewed by accredited professionals (SAICA & SIABA). This ensures your AFS meet the highest professional and ethical standards.

Bank Approved

Our AFS are structured to meet the strict requirements of South African major banks. Whether you are applying for a loan or an overdraft, our reports are ready for submission.

Fast & Simple

By leveraging technology like Xero, we reduce the manual "paperwork" burden. This allows us to offer a faster turnaround time without compromising on the technical accuracy of your financials.

Level 1 B-BBEE Contributor

SMTAX is a 100% Black-owned, Level 1 B-BBEE professional services firm. Partnering with us supports your own B-BBEE scorecard while receiving world-class accounting support.

Tax Incentives & Savings

Our tax specialists look for industry-specific tax incentives and allowances that your business may be eligible for. We ensure you are taking advantage of tax incentives to reduce your tax liability.

No Hidden Fees

Traditional accounting firms often bill by the hour, leading to "invoice shock" at the end of the month. At SMTAX, we offer transparent, once-off pricing starting from R6,000 for AFS.

Click Here to Get Started

Join +70,000 small business owners who trust SMTAX 

Since our inception in 2015, we've worked with some amazing companies. In our journey to ensure financial transformation, we've had the pleasure of working with Old Mutual, ABSA, FNB, Nedbank, and Standard Bank.

Standard Bank
Old Mutual

Benefits of signing up with SMTAX

Fast & Simple

It’s simple and only takes a few minutes to complete.

Stay Compliant

Company information is automatically filed and kept up to date with CIPC.

Your data is secure

Your personal data is kept 100% secure via 256-bit SSL. We are GDPR compliant.

Improved Profits

Our Accounting, tax and business -advisory is built to ensure improved business profitability.

Frequently Asked Questions

Our professional AFS services start from R6,000 for a standard compilation. The final cost depends on the complexity of your business, your annual turnover, and whether you require a Compilation or an Independent Review. We provide a transparent, fixed quote upfront so there are no hidden surprises.

Once we have received all your required documents (such as your trial balance or access to your accounting software), we typically deliver your draft financial statements within 7 to 14 working days.

This depends on your Public Interest Score (PIS). Most private SMEs only require a Compilation, which is the most cost-effective option. If your business is larger or has significant third-party debt, you may require an Independent Review. Full Audits are generally reserved for public companies or very large private entities. Our team calculates your PIS for you as part of our initial assessment.

Yes. Our financial statements are drafted by SAICA/SAIBA accredited professionals and are structured to meet the "bankable" standards required by South Africa’s major financial institutions for credit and funding applications.

Absolutely. If your books aren't up to date, we offer a Bookkeeping Catch-up service as an add-on. We will reconcile your records and prepare the necessary ledger data so that we can accurately draft your Annual Financial Statements.

Our Start plan is designed for smaller businesses (for example, under R500k turnover per year, with no employees). It includes key tax compliance items such as SARS correspondence notifications, Income Tax Return submission, Provisional Tax Return submission, and Tax Clearance Status PIN support.

Start also includes accounting support (Xero setup & support, monthly bookkeeping, expense capturing) and core CIPC compliance support (annual return reminders and submission, beneficial ownership register support, and BBBEE affidavit templates).

Our Run plan is designed for growing businesses (for example, under R1 million turnover per year) with existing employees. It includes everything in Start and adds payroll-related support and additional reporting, including payroll administration and PAYE/UIF/COIDA-related submissions as listed in the plan.

Our Grow plan is built for businesses with more complex compliance needs. It includes everything in Run, plus VAT return submission and SARS audit assistance as listed in the package.

Yes. If you don’t need a monthly package, we offer Unbundled / Pay As You Go services so you can get help with a specific once-off task.

Yes. If you’re behind, our Catch-up & Clean-up option is designed to help you get back on track. You can request a catch-up quote, and we’ll guide you through what’s outstanding and what we need from you to start.

Yes. We can assist with Tax Clearance Status PIN support. This is included in our plans, and we also offer a once-off Tax Clearance PIN service if that’s all you need.

In most cases, please allow up to 48 hours for our tax specialists to generate and send your PIN. It may take longer if you are not the SARS Registered Representative, because that can affect access and turnaround times.

We send tax return status updates via email and WhatsApp, including progress updates and confirmations when submissions are completed.

Yes. We offer Public Officer assistance as a once-off service, which can include help with SARS eFiling setup and general compliance checks (as outlined on our website).

No. We’re a private company that provides paid assistance. We are not affiliated with SARS, CIPC, or any government authority. Where applicable, official outcomes are issued by the relevant authority.

Yes. We list our professional accreditations and reference numbers on our website, including references for SARS, SAIT, SAIBA and SAICA.

Yes. We have locations in Cape Town, Knysna, and Umhlanga (Durban). If you prefer an in-person conversation, contact us and we’ll advise you on availability and the best way to book.

You can contact us by phone or email, WhatsApp us, or apply online to get started and receive a quote.

No problem—apply online or request a call back. We’ll ask a few quick questions (turnover, trading status, employees, VAT/payroll needs) and guide you to the best-fit option.

If SARS raises a query, we can assist you through the process depending on your service scope. We also include SARS audit assistance in our Grow plan for customers who need more comprehensive support.

Solutions

Tax

Accounting

Payroll

CIPC

Funding

Resources

Contact us

Accreditation

SARS : PR-0088934
SAIT: 33071887
SAIBA: SAIBA3845
SAICA: 30684830

Legal info

Privacy Policy

Terms & Conditions

Locations


Cape Town: 

7th Floor West Office Tower, Canal Walk, Century City, Cape Town, 7441 


Knysna:

TH15.1 Long Street, Thesen Habour Town, Knysna, 6571


Durban:

21 Aurora Drive, Umhlanga, Durban, 4031


Made with ♥ in South Africa | Proudly Level 1 BBBEE | Copyright 2024 - All Rights Reserved.


Disclosure: SMTAX is a private company providing paid assistance with registrations and compliance. We are not affiliated with CIPC, SARS, the Department of Labour, CIDB, CSD, or any government authority. Official outcomes (where applicable) are issued by the relevant authority.