HD Accountants

Accountants and tax consultants

Accountant Cape Town Fish Hoek

021 785 3306

How to register for Income tax

In order for you to register for  tax you need to follow the following steps

Most new companies registered at the Companies Commission (CIPC) get issued with a Company Tax number automatically, and this number is normally emailed to you.

Unfortunately this is one tax you need to register yourself, as SARS normally wants to do a verification on you.

What returns need to be submitted for Company Income Tax?

Company income tax return (IT14)  - This return is due one year after the company’s financial year end, so of your year end is 28 February 2021, the Company Income Tax return (IT14) would be due at SARS on 28 February 2022, these returns are normally filed via e filing, so it is essential to register for e filing in order to file returns.

Provisional Tax Return (IRP6) - these returns are used to make an estimate about your taxable income for a specific year, and then tax are paid over provisionally to SARS based on the estimated income. SARS tend to penalize companies severely if these calculations are wrong, so care must be taken with these returns. These returns are due in August and February if the company’s year end is February. Provisional Tax returns are filed via e filing.

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