Why you need Tax Risk Insurance
Ensuring you have heavyweights in your corner when SARS comes knocking.
Insurance Options
Personal
R100,000 cover
from *R210 p/m
Business
R250,000 cover
from *R219 p/m
Trusts
R250,000 cover
from *R179 p/m
*Terms and Conditions apply.
Each taxpayer must have his own policy
WHAT WE COVER
The cost of defending your case or justifying your position to SARS
can
be considerable.
We cover the cost of defending:
WHAT WE DON'T COVER
-
Audits and disputes which have commenced prior to the inception of the policy
-
Audits from tax returns which were submitted late, without extensions being granted
-
Where proper records were not kept
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Where fraud or crime is involved
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Costs of tax return preparation
-
Matters outside RSA borders
-
Any taxes, interest, penalties or fines correctly imposed by SARS
INDEMNITY LIMITS
I am a new or existing...
POLICYHOLDER
While you may have a competent accountant or tax practitioner, this does not guarantee protection in the event of a SARS' tax audit. The cost of defending an audit can be debilitating.
BROKER
Your clients look to you for professional, up-to-date insurance advice. The risk of a SARS’ tax audit is real – which means that insurance cover in the event of a SARS’ audit has become a top priority.
TAX ACCOUNTANT
The regulations and procedures around a tax audit are complicated. If your client is selected by SARS for a tax audit, you’ll most likely be the first port of call.
SA’s trusted insurance for taxpayers
SARS IS AUDITING MORE TAXPAYERS MORE OFTEN!
SARS is facing in excess of R300 billion tax shortfall. This is leading to increased audits. It’s no secret that they are targeting SMMEs, business owners, High-Net-Worth Individuals (HNWIs) and trusts. More detailed tax audits and investigations are being performed to curb tax avoidance.
If you’re selected for an audit or investigation, SARS may put forward a case that you’ve underpaid your taxes or a human error may be found. Even if you have the best accountant or tax consultant in the world, you’re still at risk of being selected for a SARS’ tax audit.
Tax Risk Underwriting Managers offers individuals, business owners and trusts selected for a SARS' tax audit immediate expert assistance and support. We appoint and pay for a team of tax professionals to defend your case. This may include tax attorneys, auditors, tax specialists, accountants and other tax advisors who may be required to ensure a fair audit outcome.
From only *R210 for individuals and *R219 for businesses monthly, you will get the Tax Risk Insurance cover you need for total peace of mind.
*Terms and Conditions apply
Tax Risk Insurance rescues SMME from SARS nightmare
Mr Jones,* a sole trader, operating a medium-sized sales business from a smallholding in the northern parts of Johannesburg, believes that taking out Tax Risk Insurance for his company, saved his business from financial ruin.
Videos
SARS dips into taxpayers’ bank accounts
SARS is issuing garnishee orders against taxpayers’ bank accounts without issuing a summons, judgement or notification, regardless of whether the assessment is correct.
Pay now, argue later, principle
What actions you can take when SARS issues an assessment on you or your business which is incorrect or baseless but insists on ‘pay now, argue later’.
Taxpayers- know your rights when interacting with SARS!
Important guidance for taxpayers around their fundamental rights when interacting with the South African Revenue Service (SARS).
Recent Posts
Lifestyle audits of high-net-worth individuals should be undertaken as one of the immediate steps to close the yawning gap between …
- Posted on Jan 14, 2021
Taxpayers need to be alerted that a planned change in legislation could mean that common errors with tax returns may be harshly …
- Posted on Oct 16, 2020
Tax Risk Insurance takes the sting out of SARS for this SMME Mr Jones,* a sole trader, operating a medium-sized sales business …
- Posted on Sep 10, 2019