Running a business means juggling deadlines. Miss your tax submission date, and you’re looking at penalties that eat into your profit. Here’s what every company director needs to know about SARS deadlines.
The 12-Month Rule
Companies and Pty Ltd entities have 12 months from financial year-end to submit their ITR14. Year-end February 2026? Your return is due by February 2027.
Year-end-February 2025? Your return is due NOW – February 2026
This sounds generous, but provisional tax creates pressure points throughout the year.
Provisional Tax: The Real Deadlines
You’ll submit IRP6 returns at three intervals:
- First payment – 6 months after year-end start
- Second payment – At year-end (critical deadline)
- Third payment – Optional top-up within 6 months
The second payment carries the highest risk. Under-estimate by more than 10-20%, and SARS applies a 20% penalty on the shortfall.
Penalty Structure
Late submissions trigger recurring monthly penalties ranging from R250 to R16,000, depending on taxable income. These accumulate for up to 35 months.
File more than 4 months late? SARS treats it as a nil return, triggering under-estimation penalties even if you owe tax.
What You Need
Before submitting your ITR14:
- Completed annual financial statements
- Reconciled provisional tax payments
- Updated public officer details on eFiling
- Supporting documentation for deductions
Take Action Now
Don’t wait until month 11. Engage your accountant early, ensure your books are current, and plan for provisional tax throughout the year.
Need help with your company tax returns?
Frequently Asked Questions
What is the deadline for corporate tax submissions in South Africa?
The South African corporate tax deadline depends on the company’s financial year end. Generally, annual returns and tax submissions must be filed within 12 months of the financial year end, though specific deadlines vary. Provisional tax payments are due twice a year, typically six months into the financial year and then shortly after year end.
What happens if I miss the tax submission deadline?
Missing the deadline can result in penalties, interest on unpaid taxes, and potential compliance reviews from SARS. SARS applies automatic penalties for late submission and late payment, which can accumulate quickly. It is important to engage with SARS proactively if you anticipate missing a deadline.
What documents do I need for company tax submission?
You will need your company’s annual financial statements, tax computation, details of provisional tax payments made, supporting schedules for deductions and allowances, and IRP6 provisional tax returns. Having organised records throughout the year makes the submission process significantly smoother.
Can I submit my company tax return myself or do I need an accountant?
While company directors can submit returns via eFiling themselves, most businesses engage a registered accountant or tax practitioner. A professional ensures the return is accurate, all allowable deductions are claimed, and compliance with current tax legislation is maintained, reducing the risk of queries or audits from SARS.
How can I reduce my company’s tax liability legitimately?
Legitimate tax planning includes timeous provisional tax payments, claiming all allowable business expenses and deductions, making retirement annuity contributions, and structuring capital expenditure correctly. Working with a tax professional year-round (not just at submission time) helps identify legitimate savings opportunities.
Contact SC Audit for Assistance.