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Returning to South Africa? Give some thought to the tax consequences

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General, South Africa, Tax Emigration
There have been several articles recently on increasing numbers of South Africans returning to the country from abroad. For those doing so, there are several important considerations to keep in mind from a tax perspective. Understanding the tax obligations and potential benefits can help individuals manage their finances more effectively. What many don’t realise is…
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Energy Tax Incentives for Individuals

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General, South Africa
The Finance Minister delivered his annual budget speech on 22 February 2023, and did not raise taxes. This was expected, given the state of the economy. The budget instead announced R13 billion in tax relief. Through an expansion of the Income Tax Act’s section 12B renewable energy tax incentive, businesses receive R5 billion and individuals…
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The South African Emigration Checklist: Navigating Tax Consequences and Compliance with SARS

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South Africa, Tax Emigration
Emigrating from South Africa is a significant life decision that comes with a multitude of considerations, both personally and financially. Among these, understanding the tax consequences and ensuring compliance with the South African Revenue Service (SARS) is of paramount importance. Failing to follow the correct emigration process can lead to penalties costing you thousands! We’ve…
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UK Autumn Statement 2023 – Our highlights

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General, United Kingdom
UK: Autumn statement 2023 – Our highlights The 2023 Autumn Statement was delivered by Jeremy Hunt on Wednesday 22nd November 2023 where he announced a range of significant changes to ease the burden on tax payers in the UK. We discuss our highlights below; Personal Taxes Venture Capital Schemes: In an effort to promote private…
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Health Screening through your Limited Company

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Limited Company, United Kingdom
Published 13 November 2023 by Victoria Lancefield, Global Tax Specialist If you are an employee of your limited company, you can expense the cost of a health assessment provided by your company without incurring income tax liability. You can only expense one health-screening assessment or medical check-up provided by your limited company in a tax…
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RSA: Two Pot Retirement System

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General
Author: Dave Beattie  The National Treasury, alongside the South African Revenue Service (SARS), is set to make some changes and clarifications to the original proposals on introducing the ‘two pot’ retirement system. In essence, this system seeks to strike a balance between two problems, maximizing retirement savings by minimizing early withdrawals and allowing for early…
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RSA Budget Speech 2023

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General
The annual National Budget Speech was held on the 22nd February 2023, in which, South African Finance Minister, Enoch Godongwana, discussed the state of the country’s economy, including growth estimates, taxation proposals and social wages. He particularly focused on the ongoing energy crisis and its impact upon the South African economy and undeniably, it can…
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UK: Inflation and Pricing in the Current Market

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United Kingdom
In September 2022 UK CPI hit 10.1%. The last time figures were as high as this was back in 1990 and prior to that in the 1970s and 1980s when inflation hit 24.2%. This is an unusual situation for UK businesses (and individuals) who have been used to lower inflationary pressure for an extended period…
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