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SARS took money out your bank account for someone else's tax!

by , 09 July 2015
The money in your company's bank account isn't totally under your control!

If you submit a tax return for your client as their representative and they don't pay their tax bill, SARS will come after you to collect their tax debt! And it's completely legal!

SARS has the power to freeze your bank account or get a third party to collect their tax debt.
Ignorance is no excuse! Read on to stop SARS from taking money out of your bank account.

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How to make yourself invisible to SARS

The key to reducing how much tax you pay is staying off SARS' radar.

SARS conducted 1.8 million audits. It's added hundreds of new tax collectors and auditors to its payroll and each one has his own collection targets to meet. This means two things:
  • If you're not compliant, your chances of an audit this year has just doubled, and
  • You will pay more in penalties.
But I have a perfectly legal way for you to reduce your risk, including...  Click here for more

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Know your rights!

You need to know what your rights are and what actions you must take to avoid SARS taking advantage of you!
  • SARS has to issue you with a tax assessment before it can collect the third parties debt form your account;
  • If SARS is under the impression you'll dispose of funds to avoid paying the outstanding debt, it will go ahead and remove the necessary funds;
  • SARS has the same rights and powers to recover assets from a third party as it has against the principle taxpayer. But the third party also has the same rights and remedies as the principle taxpayer. So use this to your advantage, object if you don't agree with the assessment; and
  • If you object to a tax liability, ask for a suspension of payment. You should apply for the suspension of payment before you lodge the objection.
Has SARS taken money out your account? Read on for three more steps on how to protect yourself against SARS.
 
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Don't become SARS' victim by not completing your IT14SD correctly

Have you received a Supplementary Declaration IT14SD form? Do you know how to complete it correctly? If you've opened the form you'll see it's quite tricky.

SARS is doing everything in its power to boost tax compliance by asking you to verify and reconcile your various declarations made to SARS.

At the moment you only have to complete your IT14SD form once SARS asks for it. And you only have 21 days to submit it, which isn't a lot of time.

Click here to learn more on how to successfully complete your IT14SD form

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Three steps to protect yourself from SARS, if it took money out your bank account!

If money was deducted off your bank account and you're liable for someone else's tax liability, follow these three easy steps:

Step#1:
Get your supporting documents in order and write down a detailed explanation of the facts. Go to the bank and ask them to send you the request from SARS (IT88) to deduct the taxes.
 
Step#2:
Go to your nearest SARS branch and ask to see a SARS official. Gather as much information as you can on the situation.
 
Remember to write down the date, time, and who you spoke to. If you decide to call the call centre instead, take down the case number and who you spoke to.
 
This will only help your case if you go to the SARS offices or the tax ombudsman.
 
Step#3:
Make an objection against the tax liability. The SARS official will help you in completing the relevant from. There are different forms for different situations.
 
P.S. Haven't received that email from SARS yet? That doesn't mean you can relax! This is the perfect time to make sure your business is audit-proof. Learn more here… 


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