Get Compliant from Anywhere, Easy and Fast!
Get Compliant from Anywhere, Easy and Fast!

Learn how to submit your IRP6 & IT14 tax returns online using SARS eFiling. Avoid Penalties. Get expert help & special offers now!

Late-Submission Tax Penalties implemented by SARS Apply to All Registered Companies (Including Non-Trading Companies.)

SARS clamping down on all non-compliant companies

You might have already received SMS’s like these:

Failure to complete your tax submissions at the designated deadline, can result in late penalty fees being charged by SARS. This can range from R250 per month backdated for non-trading companies and up to 10% of annual income for trading companies. It is also important to remember to complete the information as accurately as possible as submitting false information is an offence.

Unfortunately it doesn’t stop there. Failure to submit your company tax returns at SARS will reflect on your company’s tax status. Meaning, your company will be labelled as “non-compliant” by SARS. Consequently, if you request a Tax Clearance Certificate for tenders or contracts, it will reflect a non-compliant status, significantly hindering the application process.

Understanding Income Tax Returns at SARS

As an SMME you have heard and read about income tax returns at SARS. We want to broaden your understanding of SARS tax returns in this article. Good news first, If you have a business registration number at CIPC, you automatically have a Company Income Tax number.

Whether a self-employed individual or business (trading or not), you are required to register your business with SARS, file your tax returns and pay the required taxes on time in order to be compliant at SARS.

According to research, between 20 and 23% of SMMEs are not even registered with SARS, meaning they are unable to submit their tax returns on efiling, which may result in them having to swallow some bitter pills once the taxman comes knocking.

Struggling to file your business tax returns correctly?

Get a Free Consultation with a trusted Tax Specialist today and see how we can help your business.

Upcoming Tax Return Submissions to be aware of:

Provisional Tax (IRP6)

  • IRP6 Tax return submissions are due twice a year in February and August.

In South Africa, individuals and companies need to submit their tax returns, known as IRP6. Provisional Tax is a system where taxpayers, both individuals and companies, estimate and pay a portion of their income tax in advance to SARS. This helps in managing tax responsibilities more efficiently, preventing a large tax bill at the end of the financial year. It requires estimating income and expenses before year-end and paying a provisional tax amount to SARS.

Corporate Income Tax IT14 (ITR14)

  • IT14 (ITR14) Tax return submissions are due once a year within 12 months from the date of financial year end. (which in most cases is February month).

Corporate Income Tax is the payment of tax on all income received by or accrued to the business within a financial year.

Companies must declare their income annually by submitting a Company Income Tax Return (ITR14). This is to declare accurate information about your company’s income such as; all income and expenses so that over or under tax assessment is avoided.

What you need to complete your IRP6/IT14 Tax Return due 29 February 2024:

  1. SARS E-filing login, To register, go to www.sarsefiling.co.za
  2. Able to access the Tax Returns as the SARS Registered Representative.
  3. Company Registration Document (14.3 or CK1)
  4. ID Document/Passport
  5. Letter from the bank

How to complete your business IRP6 and IT14 tax return?

If you have time, you can complete your SARS IRP6 and IT14 tax return by yourself, using the online portal (efiling) and guide to help you with your submission OR you can use a tax specialist to avoid common pitfalls.
Don’t risk incorrectly submitting your returns at SARS. Our Tax Experts can assist your Company to stay Tax Compliant, and avoid SARS penalty fees for late submissions, with our February Tax Specials, including savings on Accounting and Payroll assistance! Specials only valid up to 22 February.

Unable to Submit your tax return online via efiling?

Get a Free Tax and Accounting Consultation for comprehensive Packages to meet your business needs.

Already behind with your Tax Returns at SARS?

We know that catching up on your outstanding taxes and accounting can become very costly very quickly. There is a lot more work required than purely maintaining your monthly accounts.

Monthly accounting consultation and accounting services for small businesses and companies in South Africa, with bookkeeping and tax.

Now you can ask for R500 if we can’t save you money.

Our accounting services are focused on saving businesses money.

It is simple. Before we start the accounting journey together, our dedicated Accountant will do an accounting consultation, and then present you with a plan on the savings we can help your business with through monthly accounting.

If we can’t, we’ll pay you R500. As easy as that.

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