Small mistakes or inadvertent errors could potentially land you in hot water with SARS
SARS has recently amended the rules relating to non-compliance transgressions which may land you in hot water with possible fines or even jail time:
How can we help you minimise the potential risk?
The slightest mistake could now have dire consequences! We recommend that taxpayers ensure that they are tax compliant at all times, are registered for all the required taxes, pay over required taxes to SARS and that all SARS correspondences is attended to as a matter of urgency. It is in your best interest to ensure that your details are up to date with SARS. Should you, your bookkeeper or finance person receive any SARS communication, action should be immediate.
SARS and the National Prosecuting Authority (NPA) have joined forces to focus on non-compliance by taxpayers as well as stamping out other general corrupt activities.
- Attending to annual Pro-active and pre-emptive IT14SD while preparing your Annual Financial Statements (AFS) allows us the opportunity to identify possible VAT or PAYE reconciliation issues before it is too late.
- Tax Risk insurance cover is there to protect taxpayers who are compliant and do not want the risk of having to incur costs to defend themselves when SARS performs an audit – this insurance pays for the cost of your accountant and some of the best legal advisors to defend you during a claim.
- Regular Tax compliance checks assists in identifying and remedying any outstanding returns/monies due to SARS – this will also avoid possible Employment Tax Incentives (ETI) claims being rejected by SARS.
- Separate trust/savings accounts for your SARS tax liabilities – keeping funds for tax bills separate and on demand for when SARS payments are due – competitive rates are offered by our alliance partners with minimal fuss and costs.
- Outsourced payroll – Our outsourced payroll services ensure that we work with you to maximise your tax and payroll efficiencies and ensure that all your compliance requirements have been met – especially during this difficult period! Our payroll services would also allow you to be better prepared for the increased scrutiny from SARS with payroll queries and audits. We can assist with all your UIF, Workmen’s Compensation and SARS payroll nightmares to save you both time and money!
Please contact our Tax Department without delay!