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'Dee - I'd love to attend the VAT Masterclass but I think it's too expensive!'

by , 25 July 2016
'Dee - I'd love to attend the VAT Masterclass but I think it's too expensive!'When we were taking our bookings for our May 2016 VAT Masterclasses, one of our prospective attendees said they wouldn't attend the VAT Masterclass as it was too expensive.

This got me thinking about costs and the relativity of paying R6 495 ex VAT for the comprehensive 2 day VAT Masterclass course, versus what SARS could charge you if you make a simple mistake on your return.

And then I thought of my client... Let's call her Mrs F. Here's the colossal mistake she made...

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Don't make the same mistake Mrs F made
While doing her VAT reconciliation, Mrs F found that she never claimed VAT on her local travel costs.  So she and her bookkeeper did a little exercise, going back five years. They calculated the VAT they never claimed came to some R30 000. 
As she had all the valid tax invoices, she claimed the full R30 000, under block 18 in the next VAT return – which was for the September tax period. Well SARS disallowed this deduction up front!  And there was explanation (as usual).
Mrs F was really busy with other business aspects. She never really paid attention to the VAT, leaving everything to her bookkeeper.
About a year later the bookkeeper resigned and the new bookkeeper realised SARS had grabbed some R46 000 out of the company's bank account. Of course this sent Mrs F into frenzy! She hired auditors and the works to find out what was going on.

Here's what they found…
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Don't make the same mistake Mrs F made…continued
The auditors found the money now gone from the bank, related to the September VAT claim.  The auditors then quoted to do an objection for Mrs F, but their fee would be R20 000.
So now, instead of receiving a refund from SARS, Mrs F finds herself having to fork out R66 000 to resolve a simple issue she would've been able to resolve if she had the tools and know-how to do so… from my VAT Masterclass.
All this could've been avoided if Mrs F had just been willing to pay just R6 495 (ex VAT) for herself, or her bookkeeper, to attend the VAT Masterclass. She could've saved herself R66 000 and gained her R30 000 input tax.
What's it worth to you?
Don't think SARS won't query your VAT.  Most vendors now receive the 'pop-up' letter from SARS – and if you don't know how to deal with it, or you ignore it, you're giving SARS permission to grab money out of your bank account!
One small mistake in your calculation or documentation could add up to far more than the R6 495 training fee...  Are you willing to risk it? Even if it seems expensive, the VAT Masterclass  gives you the tools and knowledge to deal with VAT and more importantly, SARS!
But don't just take my word for it, here's what a few of the delegates had to say:
'The best VAT course I've attended in 43 years' L. Bartlett, Bookkeeper
'Dee gave us practical scenario's, and showed us where to find support in the VAT law' – Y. van der Linder, Financial Controller
'You can ask as many questions as you want and Dee will answer them.' C. Bestbier, Personal Assistant
And since we had an overwhelming request for bookings in May, the VAT Masterclass is back by popular demand!
Best of all, we're coming to a town near you:

Johannesburg – 13 & 14 October
Cape Town – 18 & 19 October
Durban – 20 & 21 October
There are limited seats  available and we won't be running the event again this year. So book your seat now and save yourself some R66 000!
P.S. I negotiated the price down to R6 495 for a limited period of time. If you book and pay for your seat today, we'll secure this price for you. But hurry, soon the price will go up to R7 495 ex VAT. Don't delay, book your seat today!

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