I have been assisting two companies with their tax affairs. They are both in the same group. The first one’s 2019 tax return did not reflect the rental expense, despite the fact that the bookkeeping, financial statements and tax return had all been prepared by the same firm of “Professional Accountants (SA)”. No one had bothered to check the tax calculation against the one at the back of the financial statements which showed a tax liability of a mere R8 000, so the company had been hit with a tax assessment of R144 000! We submitted a revised tax return…
Read More
