How Tippex can trigger a Vat audit from SARS
Want to open yourself up to Vat fraud? Submit your Vat returns manually. Because a growing number of people around the world find it easier to 'lie' on paper, like William Snow, the UK farmer who made a fraudulent claim of more than £500,000 by creating a false paper trail to manipulate the tax system! Here's how to avoid a Vat audit by making a similar mistake when submitting your Vat return to SARS...
A farmer in the UK has just been jailed after submitting his Vat return forms manually.
He used correctional fluid or Tippex on the forms to make a hefty fraudulent Vat claim.
Here's how Snow's fraudulent Vat refund claim was discovered…
A large refund claim made the HM Revenue and Customs suspicious as Snow's business had previously been facing difficulties.
Nothing out of the ordinary about that, in fact it's one of the top reasons for a tax audit.
But on investigation, they found that Snow's 'refund' was due to Tippexed dates and payments on invoices, which then matched the amount of Vat he'd claimed, explains The Belfast Telegraph
He's since been arrested and charged with Vat fraud.
So don't even think of using correctional fluid like Tippex when submitting any documents to SARS manually, even if you've made a legitimate mistake.
This is one surefire way to trigger an audit from SARS.
It'll also delay your refund, as SARS clearly states
that no correction fluid or Tippex is allowed on documents submitted.
So if you do make a mistake, you'll need to start over with a new form.
Luckily, when it comes to Vat returns, you can save yourself the hassle completely! That's because SARS only allows you to submit your VAT returns online!
And this is also a great way to check up on whether SARS has processed your Vat refund or needs more information from you through the SARS Vat refund dashboard, says FSP Business
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