Running a business means wearing many hats — and keeping up with SARS deadlines can easily slip through the cracks. Unfortunately, missed tax dates often lead to unwanted penalties and interest charges.
This guide breaks down key SARS deadlines South African businesses should know and how to stay compliant year-round.
1. Annual Income Tax Return (ITR14)
- Who: Companies and close corporations.
- When: Usually due within 12 months of the financial year end.
- Tip: Don’t wait until the last month — SARS eFiling systems are busiest near deadlines.
2. Provisional Tax (IRP6)
- First payment: By end of August.
- Second payment: By end of February.
- Optional third (top-up): By end of September (if necessary).
Missing these can result in 10% penalties and daily interest on the shortfall.
3. VAT Returns (VAT201)
- Who: VAT-registered businesses.
- When: Monthly or bi-monthly, depending on your registration cycle.
Late submission = 10% penalty + interest per month on the outstanding VAT.
4. PAYE, UIF & SDL
- Who: All employers.
- When: Submit EMP201 by the 7th of every month.
- EMP501 Reconciliation: Twice a year (interim in October, final in May).
Errors or delays can trigger SARS follow-ups or audits.
5. Annual Returns with CIPC
While not a SARS requirement, failing to submit annual returns with the Companies and Intellectual Property Commission (CIPC) can result in deregistration — which affects your tax compliance status.
6. What Happens If You Miss a Deadline?
SARS may:
- Charge penalties (fixed or percentage-based).
- Add interest on unpaid amounts.
- Issue final demands or even list your business as non-compliant — impacting tenders and funding applications.
7. How to Stay on Track
- Keep a shared tax calendar visible to your finance team.
- Reconcile books monthly (don’t wait for year-end).
- Work with your accountant to review submissions before they go out.
- Subscribe to SARS updates — deadlines sometimes shift.
Final Thoughts
Compliance isn’t just about avoiding penalties — it’s about keeping your business healthy and credible.
At Schoemans Chartered Accountants, we help Cape Town SMEs manage SARS deadlines, prepare accurate submissions, and maintain a spotless compliance record. Contact us
today to simplify your tax calendar and avoid unnecessary penalties.
Frequently Asked Questions
What are the key SARS deadlines for South African businesses?
Key deadlines include: provisional tax payments (31 August and 28/29 February annually), annual income tax returns (typically 23 January for non-provisional, 23 October for provisional taxpayers), monthly PAYE/UIF/SDL returns (7th of each month), and VAT returns (25th or last business day after each VAT period).
What happens if I miss a SARS tax deadline?
SARS imposes late payment penalties starting at 10% of the unpaid tax, plus interest calculated daily. For late filing, you face a monthly penalty that increases over time. Continued non-compliance can trigger audits, investigations, and legal action.
How are SARS penalties calculated?
Late payment penalties are 10% of the outstanding amount for the first month, plus 2% per month thereafter. Interest is charged at the prescribed SARS rate (updated quarterly). Late filing penalties range from R250 to R16,000 per month depending on your taxable income.
Can SARS penalties be waived?
In some cases, SARS may waive or reduce penalties if you can show reasonable cause for non-compliance, such as medical emergency, system failure, or natural disaster. You must submit a formal request with supporting evidence. Professional tax help improves your chances.
How do I stay compliant with SARS deadlines?
Use a tax calendar with all key dates, set up reminders well in advance, keep accurate records throughout the year, work with a tax professional who tracks deadlines for you, and consider setting aside funds monthly to ensure you have cash available when tax payments are due.
Schoemans are part of the Schoemans Group that included Schoemans & Coetzee Audit – Registered Auditors in Cape Town and Acredo Quality Auditing, Accounting and Tax Compliance