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Get Compliant from Anywhere, Easy and Fast!

0800 007 269 (Toll Free)
Get Compliant from Anywhere, Easy and Fast!

Table of Contents

  • Tax & Accounting

Preparing Your ITR14 Company Tax Return Early Can Save You Thousands

For many South African SMEs, the ITR14 (IT14) submission only becomes a priority when SARS deadlines approach, or worse, when penalties or audit notices arrive. Unfortunately, delaying your ITR14 is one of the most common and costly compliance mistakes businesses make. 

With SARS intensifying enforcement, expanding access to third-party data, and tightening compliance checks, preparing early for your ITR14 submission is no longer optional. It is a critical step in protecting your business, maintaining good standing with SARS, and ensuring access to future trading opportunities. 

As Herman Miny, Accounting Specialist at Company Partners, explains:

“The biggest problems we see with ITR14 submissions don’t come from fraud, they come from last-minute preparation. When records aren’t ready, mistakes are inevitable, and SARS penalties quickly follow.”

Meet our SARS Tax Specialist at Company Partners Herman Miny

This article explains what an ITR14 is, why it must be submitted even if your company is not trading, what the February 2026 deadline means, and why now is the best time to get your accounting and tax affairs in order. 

What is an ITR14?

An ITR14 is the annual income tax return for companies and close corporations in South Africa. It declares your company’s: 

  • Income and expenses 
  • Taxable profit or loss 
  • Tax liability for the financial year 

The ITR14 must be supported by accurate annual financial statements (AFS) and accounting records. SARS uses this information to assess tax payable, verify compliance, and determine whether further review or audit is required. 

Herman puts it simply:

“An ITR14 is not just a form you submit once a year,” says Miny. “It reflects the overall health and credibility of your business in SARS’ eyes.”

Why You Must Submit an ITR14, Even If You’re Not Trading

A common misconception among SMEs is that an ITR14 is not required if the business did not trade or earn income. This is incorrect. 

If your company or CC is registered with SARS, an ITR14 must still be submitted, even if: 

  • No income was generated 
  • The business was dormant 
  • There were no transactions during the year
     

Failure to submit can result in:

  • Administrative penalties 
  • A non-compliant SARS status 
  • Increased risk of audits 
Herman’s Warning:
“SARS does not assume inactivity if no return is filed,” Miny explains. “They assume non-compliance, and that assumption carries consequences.”

Ensure Your ITR14 Is Compliant

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Understanding the Feb 2026 ITR14 Tax Return Deadline

For most companies, the ITR14 filing deadline falls at the end of February 2026, depending on the financial year-end. 

While this may seem far away, waiting until the final weeks creates unnecessary risk. Early preparation allows time to: 

  • Reconcile accounts properly 
  • Identify errors or discrepancies 
  • Claim valid deductions 
  • Avoid rushed submissions that trigger penalties or audits 

Herman Explains:

“SARS does not assume inactivity if no return is filed,” Miny explains. “They assume non-compliance, and that assumption carries consequences.”

The Consequences of Late or Non-Submission

Daily Administrative Penalties

SARS imposes monthly recurring penalties for late ITR14 submissions. These penalties accumulate until the return is submitted, even if tax is ultimately payable, or not.

Increased Audit Risk

Late submission significantly increases the likelihood of: 

  • SARS verification requests 
  • Full audits 
  • Reviews going back several years 

Herman Flags the Risk:

“A single late return can open the door to multiple years being reviewed,” Miny warns.

SARS’ Access to Third-Party Data

SARS now has expanded access to: 

  • Bank accounts 
  • Payment platforms 
  • Supplier and customer data 
  • VAT, PAYE, and provisional tax records 


Any mismatch between your accounting and what SARS sees may raise immediate red flags. 

Blocked Business Opportunities

Non-compliance can prevent your business from obtaining: 

  • Funding approvals 
  • Government or corporate contracts 
  • Tender opportunities 
Herman Explains the Checks:
“SARS no longer relies solely on what you declare,” Miny explains. “They cross-check your ITR14 against multiple data sources, accuracy is critical.”

Why Up-to-Date Monthly Accounting Is Essential

You cannot submit an accurate ITR14 without proper accounting records. Poor monthly accounting often leads to: 

  • Incorrect tax calculations 
  • Missed deductions 
  • Overpayment of tax 
  • Increased audit exposure 

Herman on Early Bookkeeping:

“ITR14 problems usually originate months earlier in the bookkeeping,” says Miny. “Good monthly accounting turns tax season into a routine process instead of a crisis.”

Prepare Your ITR14 Correctly

Professional assistance to prepare and submit your ITR14 in line with SARS requirements.
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What You Need to Submit an ITR14

To complete your ITR14, SARS requires: 

  • Annual Financial Statements (AFS) 
  • Trial balance 
  • Detailed income and expense schedules 
  • Asset and depreciation schedules 
  • VAT and PAYE reconciliation data 
  • Supporting documentation where applicable 

Step-by-Step: How to Submit Your ITR14 on SARS eFiling

Log Into SARS eFiling

Access the SARS eFiling portal and ensure your company profile is active and linked correctly. 

Ensure Your Accounting Is Finalised

Before submission, confirm that: 

  • Your bookkeeping is up to date 
  • Financial statements are accurate 
  • All reconciliations are complete 

Cenerate and Complete the ITR14

Select the relevant tax year and complete the ITR14 form using your financial data. SARS may request additional schedules depending on your company’s profile. 

Upload Supporting Documents

Attach your AFS and any additional documents required for verification. 

Review for Accuracy

Carefully review all figures to ensure consistency across: 

  • Income tax 
  • VAT 
  • PAYE 

Submit and Track Status

Submit the return and monitor SARS eFiling for verification requests or correspondence.

Herman Explains the Mistake:
“The biggest mistake businesses make is submitting without checking alignment,” Miny notes. “That’s often what triggers SARS queries and audits.”

How Company Partners Can Assist

Company Partners offers end-to-end ITR14 and accounting support designed for SMEs who want certainty, compliance, and peace of mind. 

Our services include: 

  • Audit-ready compliance support 


You can also use Company Partners’ free Accounting Package Quote Calculator to see, in under two minutes, what professional accounting support would cost your business. 

Herman on Client Protection:

“Our role is not just to file returns,” Miny says. “It’s to protect business owners from unnecessary risk and give them confidence that everything has been done correctly.”

Don’t Wait, Secure Your Compliance Now

Waiting until the last minute to prepare your ITR14 tax return exposes your business to penalties, audits, and missed opportunities. Early action gives you control, clarity, and confidence, and ensures your business remains compliant and opportunity-ready. 

Herman’s Final Advice:
“The best time to deal with your ITR14 is before SARS forces the issue,” Miny concludes. “Early preparation saves money, time, and stress.”

Take Control of Your ITR14

Contact Company Partners today for expert advice, a free tax backlog review, and professional accounting support, and move into the 2026 tax season with peace of mind. 
Get a FREE Consultation
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