Will Company Director be responsible for company debt in the event of liquidation?
By Nicci Courtney-Clarke · Updated
My company owes SARS VAT, PAYE, AND INCOME TAX. If I voluntarily liquidate, with no business assets, and no personal assets, will SARS prosecute me personally if they cant get the money from the company? Does liquidation void the tax debt to SARS?
You would need to go to SARS and work this out with them. They may be able to attempt to recover the funds from you in particular circumstances.