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0800 007 269 (Toll Free)

Get Compliant from Anywhere, Easy and Fast!

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

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  • Tax & Accounting

Missing SARS Tax Returns Deadline Could Cost You Thousands

Dont miss the sars tax return deadlines in 2025, otherwise you might end up paying penalties

Every year, thousands of South African businesses face penalties from SARS for failing to submit their IRP6 and IT14 (ITR14) tax returns on time. A single missed deadline could mean penalties of up to 20%, plus accumulating interest on unpaid tax. Worse still, a non-compliant tax status could block your business from securing tenders, loans, or contracts, putting your company’s future at risk.

In this article, we discuss everything SA Entrepreneurs need to know about Corporate Income Tax Returns, who it applies to and the different submission deadlines.

Who Needs to Submit an IRP6 and IT14 Tax Return?

All registered companies are required to submit tax returns and pay income tax as per the Income Tax Act, 1962. Business who are not actively trading are still required to submit Tax returns, which serves as a declaration to SARS that no income was received.

Key Deadlines

1st IRP6 Return: Due by 31 August (for the first 6 months of the tax year)

2nd IRP6 Return: Due by 28/29 February (end of the tax year)

Annual IT14/ITR14 Tax Return: Must be submitted within twelve months of the company’s financial year-end.

See below example of how the Tax Year and the Tax Submission deadlines work. 

A simple tax returns breakdown of the deadlines over the 2024 financial year

Need assistance with your Company Tax Returns?

Company Partners’ SAIT and SAIBA Registered Accountants take the stress out of tax compliance by handling your IRP6 and IT14 submissions, ensuring you never miss a deadline and pay the correct amounts.
Get a FREE Consultation

What is the Difference Between IRP6 and IT14?

IRP6 Provisional Tax

You are required to submit your Provisional Tax (IRP6) return twice yearly, in February and August.

Tax returns (IRP6) are due from both individuals and businesses. Under the Provisional Tax system, taxpayers (individuals and businesses alike) can anticipate and prepay a portion of their income tax to SARS. As a result, tax obligations can be better managed, and a hefty tax bill at the end of the fiscal year can be avoided. To do this, you must pay a provisional tax amount to SARS based on your estimated income and expenses before the end of the year.

The IT14 (ITR14) Corporate Income Tax

Once a year, within a year after the conclusion of the financial year, you must submit your tax return. (Which is often the month of February).

All of a company’s income, whether earned or received, within a given fiscal year is subject to corporate income tax. An company’s yearly income must be reported on an Income Tax Return (ITR14). You must ensure that all of your company’s income and spending are accurately reported to prevent any potential over- or under-assessment of taxes.

What do you need to complete your IRP6/IT14 Tax Return?

  1. SARS E-filing login, To register, go to www.sarsefiling.co.za
  2. SARS Registered Representative up to date.
  3. Company Registration Document (14.3 or CK1)
  4. ID Document/Passport
  5. Bank Statements (trading companies) or Letter from the bank (dormant companies)
  6. Annual Financial Statement (trading companies)
What do you need to file your IRP6 and ITR14, we explain

SARS may also request the following supporting documents to verify information presented in your Annual Financial statements:

  • Trail Balance and General Ledger
  • Income Statement and Balance Sheet

This is why it is vey imporant to ensure your Monthly Accounting it up to date. Regular and accurate accounting ensures that your financial records are always in order, reducing the risk of penalties or delays in tax submissions. Up-to-date records ensure you remain compliant with SARS requirements at all times.

Ensure that your Accounting & Tax is up to date with our Free Tax Backlog Review Service. Our SAIT and SAIBA Registered Accountants can get you back on track with any outstanding Tax and Accounting.

Contact us today!

What are the late payment and late submission penalties for IRP6?

1. Late Submission Penalty (20%)

Miss the IRP6 filing deadline? SARS treats it as if you declared zero income, immediately hitting you with a 20% penalty on the tax amount due.

Example:
Linda, a small business owner, is busy setting up a new store and forgets to submit her IRP6 by 28 February. SARS calculates her taxable income was R1.6 million—and penalises her R6,560 for late submission.

2.Late Payment Penalty (10%)

Miss your IRP6 payment deadline, and SARS immediately adds a 10% penalty onto your tax bill. If you owed R100,000 in tax, you now owe R110,000—plus interest.

Example:
Sam, a business owner, forgets to pay his IRP6 by 28 February. SARS charges him an extra R10,000 just for being late. The longer he waits, the more interest accumulates.

What are the late payment and late submission penalties for IT14?

1.Late Submission Penalty:

If a company fails to submit its ITR14 by the due date, SARS imposes an administrative non-compliance penalty. This penalty is a fixed amount that recurs each month the return remains outstanding, up to a maximum of 35 months. The penalty amount is determined based on the company’s taxable income and can range from R250 to R16,000 per month.

Example:
A company with a taxable income of R1,250,000 fails to submit its ITR14. SARS enforces a monthly penalty of R2,000 for the late submission. If the company delays submission for three months, the total penalty would accumulate to R6,000.

2.Late Payment Penalty:

When a company submits its ITR14 but fails to pay the assessed tax by the due date, SARS enforces a late payment penalty. This penalty is typically 10% of the unpaid tax amount. Additionally, interest grows on the outstanding tax debt until it is settled.

Example:
A company owes R100,000 in taxes upon submitting its ITR14 but misses the payment deadline. SARS enforces a 10% late payment penalty, amounting to R10,000. Consequently, the company now owes R110,000, excluding any interest that may build up.

How Company Partners Can Save You from SARS Penalties

At Company Partners, we handle your IRP6/IT14 returns, ensuring:

  • You file on time—no missed deadlines
  • Your tax estimates are accurate—avoiding penalties
  • Ensuring maximum tax efficiency

Our team of tax experts has helped thousands of South African businesses since 2006 to stay SARS-compliant without the stress.

Don’t Gamble with Your Business’s Finances—Act Now!

Let Company Partners handle your IRP6/IT14 tax returns before you miss the deadline! Avoid SARS penalties and keep your tax clearance status intact! Contact us today and never fear a SARS penalty again!
Get a FREE Consultation

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