In spite of good tax planning and provisional tax paid, you do sometimes still get a surprise with a huge amount of tax payable. Sometimes it is really just a temporary cash flow problem and you will be able to repay the tax assessment in the next few months.
you receive this sudden surprise you will be able to arrange a monthly
repayment or even reach a tax compromise with SARS to settle this outstanding
If the reason is merely cash flow, draw up 12 month cash flow forecast to SARS to explain the reason for this. I found to be upfront with SARS always make a process of a repayment application easier. True … SARS will always push for as much as possible and as quick as possible, but you have your chance to communicate and explain yourself.
1. We will be able to assist you with an application to SARS to pay off your debt. Click here for more information on a repayment application.
2. In the instance when you can afford a repayment to SARS, we will be able to assist you with a compromise or settlement application to SARS. Here you will make an offer to SARS as full and final settlement of all taxes outstanding. Click here to read more about this application.