HomeHome SearchSearch MenuMenu Our productsOur products

Oops, you made an error on your Vat return! How do you deal with it to avoid penalties from SARS?

by , 22 October 2014
Errors on your Vat return can cause serious problems including triggering a SARS audit that could leave you reeling from serious penalties.

We know you don't want that to happen but we all make mistakes. So how do you deal with it when these creep into your Vat return?

Today we're going to show you exactly what to do so you can resolve this problem and keep out of trouble with SARS...

 

Here's what to do to deal with errors in your Vat return

 
When you complete your Vat return via eFiling, any errors that slip in will stop you from being able to electronically file your return. 
 
Error messages will show up on your screen. This gives you a chance to correct the error and submit your return correctly.  
 
This is a safety net SARS has built in so it doesn't have to waste time dealing with incorrect information.
 
The real problems comes in when you submit manually and make an error. 
 
*********** Reader's choice  ***************
 
BREAKING NEWS: SARS introduces more changes to the VAT return
 
Are you 100% sure you've covered all your bases?
 
All it takes is putting a zero in the wrong place on your VAT return to get in trouble with SARS – and even trigger an audit! 
 
Don't let this happen to you!
 
 
***************************************
 

Here's how to deal with errors on a manual Vat return submission

 
If you submit a Vat return with errors, it could result in serious penalties. So, if you realise you made an error after you submitted, contact SARS immediately. Alert them to the error and ask if you can resubmit your return. If SARS knows you spotted the error and want to fix it A.S.A.P. it might be more lenient on you. 
 
But prevention is always better than cure so rather check the information on your Vat return thoroughly before you submit it. 
 
For more help on completing your Vat return, check out the Vat201 e-report. It contains everything you need to do your Vat return correctly. 
 

Vote article

Oops, you made an error on your Vat return! How do you deal with it to avoid penalties from SARS?
Rating:
Note: 5 of 1 vote


Related articles




Related articles



Related Products