What is it?
The insurance covers professional fees of your accountant, auditor, tax practioner, tax advisor and those of any associated specialists in the defence of an enquiry from SARS.
Who needs it?
- Any person or business submitting an income tax return.
- Any business operating a PAYE scheme.
- Any business that is VAT registered.
Benefits
Qdos Tax Enquiry covers:
Income Tax
enquiries
Vat Disputes
Employee's Tax disputes
Capital Gains Tax disputes
Further Benefits:
Remove the uncertainty of unexpected defence costs.
Allows your clients to defend their case.
Gives your client the resources to achieve a fair result.
Claims Process
Following receipt of correspondence from SARS giving notification of an income tax enquiry or at the point of disputing a VAT/Employee's Tax/Capital Gains Tax demand, we ask you to send us copies of the relevant correspondence, from which we open a claim file. We can immediately authorise fees on the day you or your client receives the correspondence.
On receipt of a completed claim form for the incident, Qdos will authorise an amount which in most cases is sufficient to cover the total cost of the insured event, without the need to make requests for an increase.
Conditions and Exclusions
Qdos Tax Enquiry Insurance covers your fees and those of nominated specialists incurred representing a participating client. The insurance will pay up to a limit of R250,000 of fees for a business clients and R50,000 for private clients.
The majority of claims are accepted in full. Exceptionally, where there is a reason that a claim is not valid under the policy, you would be given a full written explanation for the decision.
As with any insurance policy there are some exclusions which include:
Enquiries or disputes which have commenced prior to the inception of the policy.
Enquiries resulting from tax returns which are submitted late, without extensions being granted.
Where clients do not keep prime records.
Matters where fraudulent tax is involved.
For full terms and conditions please refer to the Tax Enquiry Insurance(TEI) policy wording and Summary of cover.
Please see our details below
Frequently Asked Questions (FAQ)
What do I do next?
Please contact us and we will arrange for our regional team to contact you.
Alternatively print out the Proposal Form, complete and email us at enquiries@qdosconsulting.co.za or submit Proposal form online.
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