We negotiate reductions of up to 80% of your legally owed tax debt!
A tax debt reduced settlement offer is also known as a compromise. This is when you owe, for example, R1 000 000 to SARS, but simply cannot afford to pay it. We take a look at your financial position and recommend a write-off that SARS will find appealing. When doing our consultation, we look at things such as your assets and your debtors to determine what deal benefits you best. We would then offer SARS R400 000 for example, and the remaining R600 000 would be written off, giving you both space and the opportunity to revitalise your business.
How do we arrange a SARS debt reduced settlement offer?
- We contact you to discuss your financial position and the SARS debt.
- We provide you with our quote to handle the debt, from start to finish – our standard fees are 7% of the debt, and we do negotiate with you in line with your affordability. Our fees are split over a few months to make it manageable for your business.
- Once you pay our deposit, we immediately suspend all legal action from SARS.
- We will then ask you for a list of documentation:
- Written letter of the history of why the money is owed, where it comes from and why it cannot be paid.
- Latest financial statements.
- Updated management accounts.
- Cash flow forecast for the next 12 months.
- Detailed bank statements for the last consecutive 6 months.
- Company registration documents.
- Lists of:
- All vehicles
- All properties owned
- All other assets
- All tenders
- All debtors
- All creditors
- All connected party loans
- Director/Member assets
- We then compile your application and submit it to SARS. We then negotiate with SARS for the best outcome.
- Once we have a successful outcome, we will inform you and send you the SARS contract.