How to Deregister for VAT in South Africa 2026 | New SARS Thresholds

Thinking about deregistering for VAT in South Africa? With the new 2026 SARS threshold changes, many small businesses now have the option to exit the VAT system. In this video, Hiennrich Grove from SA Accounting Network walks you through the exact process, the new rules effective April 1st, 2026, and the "hidden costs" you need to know before you apply. 🕒 Key Timestamps: -0:00 – Introduction: Why deregister for VAT? -0:31 – NEW 2026 VAT Thresholds: R2.3 Million (Compulsory) & R120,000 (Voluntary) -1:10 – Voluntary vs. Compulsory Deregistration -1:42 – The 21-Day Rule: Closing your business? Don't wait! -2:06 – Step-by-Step: How to apply (VAT123 Form) -3:48 – Supporting Documents: What SARS needs from you -4:49 – Walkthrough of the VAT 123e Form -6:12 – The 18-24 Month Wait: Why you MUST keep charging VAT -7:49 – Warning: Don't miss the SARS verification call! -9:15 – SARS "Intention to Cancel": What to do if SARS forces deregistration -10:53 – The Hidden Cost: Deemed Disposal & Exit VAT Explained -11:50 – Final Verdict: Pros & Cons of Deregistering 💡 About SA Accounting Network: Helping South African entrepreneurs navigate the complex world of tax and accounting since 2008. Subscribe for weekly tips on SARS compliance, business growth, and financial management. #SARS #VATSouthAfrica #DeregisterVAT #SouthAfricaTax #SmallBusinessSA #SAAccountingNetwork