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Thread: Client Owes R20M

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    Email problem MTSCFin's Avatar
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    Client Owes R20M

    A new Client of mine owes SARS over 20M. The best option would be to liquidate. I am worried about Reckless Trading in terms of the companies Act of the Directors and SARS criminally prosecuting as the debt is for PAYE and VAT if they decide to investigate.

    Any opinions on the likelihood of SARS prosecuting?

    I am worried about this one!

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    Yep for PAYE and VAT it is reckless trading if you have avoided submitting and paying returns ........ and that sounds like a lot of returns ...

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    I know its reckless trading and its since 2011 but what will SARS do about it is the Question? Love your Domain!!!!

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    Unlike VAT, PAYE deducted and not paid over is criminal. If SARS get wind of it they will throw the book at them.

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