Frequently Asked Questions

The Single Discretionary Allowance is currently R2 million per calendar year for South African resident individuals aged 18 and older. It can be used for legal offshore transfers without requiring a SARS Approval for International Transfer (AIT). The allowance increased to R2 million following the 2026 FinSurv implementation — if you have seen older figures elsewhere, some official pages have not yet been updated.

Yes — and this is one of the most underused advantages available to South African expat households. The R2 million SDA is per adult per calendar year, so a married couple or two adults in the same household each have their own full R2 million allowance. That is R4 million per year moved to the UK with no SARS approval required, simply by using both allowances. Combined with both Foreign Investment Allowances, a couple can access up to R24 million per year, where both spouses are individually eligible and properly documented. We help households structure transfers to make the most of this.

The Foreign Investment Allowance allows South African tax residents to invest up to R10 million per calendar year offshore, over and above the SDA. Unlike the SDA, the FIA requires a SARS approval for international transfer before the funds can be processed. We manage the full application process on your behalf. See our Annual Allowances page for a full breakdown of both limits.

An AIT is the SARS approval process used when a South African resident wants to transfer amounts beyond the SDA. The framework works in three tiers. Up to R2 million per calendar year can generally be transferred under the SDA without a SARS approval. A further R10 million per calendar year can generally be transferred under the offshore investment allowance with SARS tax-compliance approval — this is where the AIT applies. Transfers above the combined R12 million require a separate application to FinSurv through an Authorised Dealer. WBForex manages whichever process applies to your situation.

In many straightforward cases, funds arrive the next business day — money sent today typically clears tomorrow, subject to bank processing and cut-off times. We manage timing on your behalf and will confirm the expected clearing date before your transfer is instructed.

WBForex offers competitive exchange rates quoted live at the moment of conversion. We confirm the rate with you before processing any transfer, so you always know exactly what you're getting.

The documents required depend on the route being used. For a straightforward SDA transfer, you will typically need identification, your UK bank account details, and standard compliance documentation. For transfers under the offshore investment allowance, SARS may require more detailed information including the amount, source of funds, and in some cases an assets and liabilities statement. We will tell you exactly what is needed for your specific situation before the transfer begins — there are no surprises.

Tax emigration — officially called cessation of South African tax residency — is the process of formally notifying SARS that you are no longer a South African tax resident. The old SARB financial emigration process was discontinued in March 2021 and is no longer available. Cessation of tax residency through SARS is now the correct route, and it is what people commonly refer to as tax emigration. See how we manage the full process.

Living in the UK does not automatically mean you have ceased South African tax residency. Whether you have done so depends on your specific circumstances — including whether you have stopped being ordinarily resident in South Africa, whether you meet the physical presence test, or whether you are treated as resident elsewhere under a double-tax agreement. If you have in fact ceased South African tax residency, you should notify SARS accordingly. This is particularly important if you want to access your retirement annuity, stop filing SA tax returns on worldwide income, or formalise your compliance position. Contact us and we will help you understand where you stand.

To access a South African retirement annuity before retirement age under the non-resident route, you must generally have ceased South African tax residency and remained non-resident for an uninterrupted period of at least three years. SARS allows the actual date you ceased to be resident to be recorded — which may be earlier than when you formally notified SARS — but the fund must still have sufficient evidence to confirm the uninterrupted three-year period. Speak to us about your specific situation and we can help you establish where you stand.

In most cases, no. To access a retirement annuity under the non-resident route before retirement age, SARS must reflect you as having ceased South African tax residency, and the fund must have evidence that you have been non-resident for the required uninterrupted three-year period. If SARS does not reflect you as non-resident, the tax directive application will be rejected. Contact us — in many cases the process can be started and the correct date of cessation established.

In many cases the process takes between three and six months, though this depends on SARS processing times and the complexity of your tax affairs. More involved cases can take longer. We manage the entire process and keep you updated at every stage — you should never be left wondering what is happening.

Once you have ceased South African tax residency, South Africa generally taxes you on South African-source income only, rather than your worldwide income. You may still need to file South African tax returns where required — particularly if you continue to receive South African-source income such as rental income, a local pension, or investment returns, or if SARS requires a return for that year. The tax basis changes, but filing obligations depend on your specific income and circumstances.

Yes. If you are a South African tax resident, inheritance funds can generally be transferred to the UK using the normal resident exchange-control routes, depending on the amount and your tax-compliance position. If you have ceased South African tax residency and are no longer active on the SARS database, the position is more specific: inheritances and life-policy payouts of up to R10 million generally do not require a Manual Letter of Compliance from SARS. Amounts above R10 million do. In all cases, additional estate, beneficiary, and banking documentation will be required, and WBForex manages the process from start to finish.

The timeline depends on the complexity of the estate and whether the deceased's tax affairs are in order. In many straightforward cases, the process can be completed in three to six months. More complex estates — particularly where property is involved or tax affairs require attention — can take twelve to eighteen months or longer. We will give you a realistic picture of the timeline at the outset.

South Africa does not charge inheritance tax to the beneficiary. However, the estate itself may be subject to estate duty, and depending on the assets involved, there may be Capital Gains Tax consequences at the estate level. Our in-house SARS-registered tax practitioners can advise on the specific position for your situation.

The transfer can usually still proceed, but the key issues are proper estate administration, the estate's tax compliance, and the beneficiary's exchange-control position. SARS's Deceased Estate Compliance letter — known as the DEC letter — forms part of the process of confirming that the deceased and the estate are tax compliant before funds can be released. Our specialists will guide you through every step.

Yes. We offer competitive rates for business-to-business international payments, including payments to South African suppliers, contractors, and service providers. Contact us to discuss your requirements.

Yes. We offer forward contracts that allow you to lock in today's exchange rate for a future payment, protecting your business from adverse currency movements. Contact us to discuss how this could work for your payment schedule.

A Forward Exchange Contract lets you lock in today’s ZAR/GBP or ZAR/USD rate for a payment due weeks or months from now. If you import goods priced in sterling or pay UK contractors in GBP, your cost base changes every time the rand moves. An FEC removes that uncertainty — you know exactly what you will pay in rands when the invoice comes due, regardless of what the exchange rate does between now and then. WBForex offers FECs for South African businesses trading in the SA-UK corridor.

Every international payment from South Africa must be categorised under a SARB Balance of Payment (BOP) reporting code — this tells SARB the nature of the transaction, whether it is a trade payment, service fee, royalty, or something else. Getting the category wrong can cause delays or compliance queries. WBForex processes your payment via our authorised dealer partner, which ensures the correct BOP code is applied and your UK supplier receives the funds in good order. You do not deal with SARB directly — we handle the categorisation.

CFC accounts allow South African businesses to hold foreign currency — GBP, USD, EUR — in South Africa rather than converting to ZAR immediately on receipt. They are useful if your business has regular foreign currency income or needs to make recurring offshore payments, because they reduce the number of conversions and give you more control over when you convert. Eligibility depends on your SA banking arrangements. If you have regular cross-border flows and want to manage currency exposure more efficiently, contact us — this is an area we advise on as part of our corporate treasury work.