CRS Technologies has partnered with Tax Debt Compliance to bring a tax advisory service to its HR and payroll clients.
In the current economic climate many cash-strapped businesses find themselves unable to pay their outstanding tax debt to SARS. Some try to put the problem on hold by not submitting a tax return but, says tax debt compliance director and tax debt negotiation specialist Gerhard Linde, not only are the penalties for this severe and the interest really high, it’s also illegal.
Enter Tax Debt Compliance and its range of tax relief mechanisms. “We assess the businesses cash flow and make a deferment application to SARS on the owners’ behalf, on the terms they can afford,” Linde explains. “If approved, the deferment will enable the business to pay the tax debt in instalments over an agreed period.
“Alternatively, we will assess the situation and present SARS with an accurate representation of the business in the form of a compromise application. If approved, this will allow the business to settle the debt at a reduced amount.”
While Tax Debt Compliance cannot make any guarantees regarding terms and amounts agreed to with SARS, Linde gives the assurance that he and his team will always negotiate for the best terms. “We go out of our way to understand the business needs so that we can plan and execute strategies that are mutually beneficial both to the business and SARS.”
Other services offered by Tax Debt Compliance to CRS clients include the performance of tax due diligences and the formulation of tax opinion letters.
“We conduct a tax health check on the business operations to identify any existing tax pitfalls, with a view to ensuring compliance with South African tax legislation.
“Additionally, we prepare tax opinion letters for businesses considering entering into complex transactions that could hold significant tax consequences. The purpose of the opinion letter is to point out the tax risks involved in the proposed transaction and give guidance on a particular direction to take.
“We are extremely excited to offer this new tax advisory service to our clients,” says CRS Technologies general manager Ian McAlister. “The team at Tax Debt Compliance have many years of experience in this field and to date boasts a 100 per cent success rate in which it has helped numerous clients to retain their assets and maintain their business operations.
“Business owners can now focus on running their business with the peace of mind that their tax issues are in the capable hands of Tax Debt Compliance.”