Large Tax Debt Owed to SARS?

Find yourself facing an astronomical tax bill due to SARS that not even your annual salary can cover? Received a letter of final demand claiming hundreds of thousands, or even millions, in overdue taxes, and spend sleepless nights thinking about how you simply cannot afford to settle this tax debt?

Should you find yourself in this position, it is important to know there are legal tax debt relief measures available to you. This includes Suspending the payment due, and negotiating either a payment plan where the debt due is affordable in monthly payments, or reduction in tax debt due, especially the hundreds of thousands owed for interest and penalties; all you need is the right team backing you, including specialist tax attorneys and seasoned accountants.

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TAX DEBT RELIEF MEASURES AVAILABLE

Suspension of Payment

Received a letter of final demand but cannot afford to settle the tax debt due, especially with the compounded interest and penalties claimed?

To prevent SARS from initiating collection steps, including attaching funds from your bank account, or taking a chunk out of your salary, it is imperative that a tax specialist be engaged to prepare a Request for suspension of payment as soon as possible.

Where a request for a suspension of payment falls short of addressing the required elements, SARS may be inclined to reject such request, resulting in the taxpayer facing the risk that SARS may commence with collection proceedings.

Section 164(6) of the Tax Administration Act further protects the taxpayer by providing that even where the request has been denied, SARS may not proceed with collection proceedings for a period of 10 business days after the request has been denied.

In the event that SARS does proceed with collection steps against the taxpayer within that period, it is essential that the taxpayer be aware of the legal avenues for refund available.

DEFERRAL OF PAYMENT

Do you feel as if you are turning the corner in terms of economic recovery in these tough times but simply cannot pay hundreds of thousands to SARS in a single payment? Instead of spending sleepless nights trying to scrape together what you can, let us negotiate affordable monthly instalments on your behalf!

A deferral of payment could be exactly what you need to allow your finances some much needed recovery time. If you are owing a large tax debt it is better to act swiftly and pro-actively. Where SARS is approached correctly, a tax debt can be paid off through a formal payment arrangement known as a deferral, whereby the debt is paid in instalments, over an agreed time period.

COMPROMISE OF TAX DEBT

There are numerous debt relief mechanisms available from SARS, however the most beneficial to taxpayers owing 6 or 7-figure tax debts, of which a large portion is interest and penalties, is without a doubt the Compromise of Tax Debt application. This relief mechanism is aimed at aiding financially constrained taxpayers to legally reduce their tax liability and includes the potential write-off of interest and penalties.

Where SARS is approached correctly, a tax debt can be reduced, and the balance paid off in terms of the Compromise, allowing some much-needed breathing room, and helping taxpayers all over the country to become tax compliant.

Once the Compromise is accepted by SARS, and the agreement duly executed, with payment being made as proposed by the taxpayer, the balance of the liability due to SARS is legally written-off by the revenue authority.

MEET THE TEAM

Meet The Team

When your Tax Debt Compromise is successfully negotiated with SARS, and Compromise Agreement duly executed, we guarantee the write-off of interest and penalties.

Jerry Botha
Managing Partner
Specialised in High-Net-Worth Cessation Applications and Tax Planning Strategies

Darren Britz
Partner & Head of Tax Legal
Specialised in High-Net-Worth Tax
Planning and Legal Strategies

Jashwin Baijoo
Associate Director
Head of Strategic Engagement & Compliance
Admitted Attorney, LLB, LLM (Tax)
Master Tax Practitioner (SAIT)
Professional Tax Specialist (SA)
SAIPA Tax Committee Member

André Daniels
Head of Tax Controversy & Dispute Resolution
Admitted Attorney, LLB

Richan Schwellnus
Admitted Attorney BCom (Hons), LLB and Cross-Border Taxation Specialist

Bronwin Richards
Tax Attorney

Micaela Paschini
Team Lead: Tax Legal

Lambert Roberts
Expatriate Tax Team Manager

Rehnu Vallabh
Senior Tax Consultant & Client Engagement Specialist

Thamsanqa Msiza
Senior Tax Consultant

Tshepo Thebyane
Senior Tax Consultant

Lenichea Carelse
CA(SA) Accounting Manager

Craig Rocher
CA(SA) Remuneration Consultants

GET IN CONTACT WITH OUR TEAM OF EXPERTS TODAY!

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Our specialist tax debt relief team is comprised of both tax attorneys and chartered accountants, to ensure the legally correct and most beneficial compliance solution is created for each and every client. We ensure legal professional privilege in all SARS debt relief negotiations, focusing on more complex and high value tax debt engagements with SARS. To ensure the benefit of our services outweigh the professional costs, we do not engage on matters where the tax debt owed to SARS is under R150 000,00.

Kindly note that our offices are closed between 25 December 2024 and 1 January 2025 and as such there will be a delay in our normal expeditious response times. Our teams are taking a short festive season break and will address your query upon their return on Thursday, 2 January 2025.