Tax & Accounting Archives - Company Partners

IRP6 Company Tax Return: Why Accuracy Matters in 2026

Gert — Fri, 06 Feb 2026 06:00:13 +0000

Tax & Accounting

IRP6 Company Tax Return: Why Accuracy Matters in 2026

Published on 6 February, 2026

For many South African business owners, IRP6 Tax Return submissions have become a familiar routine. August comes and goes: an estimate is submitted, a payment is made, and it’s done. Then February arrives, and the same mindset kicks in: submit what you can, pay what you can, and “we’ll fix it later” when the ITR14 is due.

According to Herman Miny, Tax Advisor at Company Partners, this is where many otherwise compliant businesses unknowingly step into trouble.

“If SARS were to audit one provisional tax return first,” Herman explains, “It would almost always be the second IRP6, the February submission.”

That single sentence changes how you should think about the 27 February IRP6 deadline entirely. This article unpacks why February is different, what SARS expects at this stage, and why the margin for error is far smaller than most SMEs realise.

Your IRP6 deadlines are linked to your company’s financial year-end. While majority of South African companies use a February year-end, your due dates may differ — confirm yours before submitting.

Key Corporate Tax Deadlines (General):
1st Provisional Tax (IRP6): Due 6 months from the start of the financial year.
2nd Provisional Tax (IRP6): Due on or before the last day of the financial year.
Annual Tax Return (ITR14): Within 12 months of the financial year-end.

February IRP6: The Moment SARS Stops Guessing

The biggest misconception around provisional tax is that August and February are treated equally by SARS. They’re not. Read more about the August IRP6 submission and how it works here.
The first IRP6 (August) is understood to be an early estimate. SARS accepts that the financial year is still unfolding. Income may fluctuate, and expenses may still be uncertain.
By February, however, SARS assumes something very different.

“By the second provisional tax period,” Herman says, “SARS assumes your books are largely done, or at least close enough to reality to be accurate.”

In other words, February is no longer about approximation. It’s about credibility.
What most businesses don’t realise:
February IRP6 covers almost the full tax year
SARS expects estimates to closely resemble final taxable income
The “reasonable estimate” threshold becomes much stricter
SARS systems actively benchmark February estimates against:
prior-year performance
VAT submissions
PAYE data
historical growth trends

This is where many businesses are caught off guard, not because they ignore SARS, but because no one ever explained that February is a risk checkpoint, not just a deadline.

Not Sure If Your IRP6
Estimate Is Accurate?

The second provisional submission leaves little room for error. Get expert guidance to ensure your IRP6 meets SARS’ February accuracy expectations.

Get a FREE Consultation

Why Under-Estimation Penalties “Explode” in February

One of the harshest surprises for business owners comes from under-estimation penalties, and these are far more common in February than in August.
Here’s why.
If your second provisional estimate is materially lower than your final assessed income, SARS is entitled to levy:
Under-estimation penalties
Interest at the prescribed rate
Penalties even if payments were made on time

“This is where the idea of ‘we’ll fix it at IT14’ really falls apart,” Herman warns. “By the time you submit IT14, SARS has already formed a view of your risk profile.”

SARS Assumes Your Books Are Mostly Done (Even If They Aren’t)

Another uncomfortable truth: SARS’ expectations do not adjust to your internal admin reality.
By February, SARS assumes:
Invoices are issued
Most expenses are recorded
Profitability is visible
Variances can be explained

If your bookkeeping is behind, SARS doesn’t see a reason – it sees a risk.

“Many SMEs believe SARS will be lenient if their books aren’t final,” Herman explains. “In practice, SARS expects you to catch up, not estimate loosely. This disconnect is one of the biggest causes of February IRP6 errors. ”

Get Your February IRP6
Reviewed by a Tax Expert

A second provisional submission requires accuracy, not estimates. Get expert input to ensure your figures align with SARS’ expectations.

Get a FREE Consultation

Expert Tip: Why Outdated Books Increase IRP6 Risk

SARS does not adjust its expectations because your accounting is behind. By February, outdated records significantly increase your IRP6 risk, because SARS assumes the information already exists. Use our FREE Accounting Package Quote Calculator to see what it would realistically cost to keep your accounting up to date – many SMEs are surprised by how affordable monthly accounting actually is.

Interest Relief: Why It Rarely Applies to February IRP6

Many business owners assume that if penalties arise, interest can be waived later. That assumption is increasingly dangerous. SARS’ systems no longer view February errors as unfortunate; they view them as preventable.

Once interest is charged:

Remission applications are often declined
SARS cites access to prior-year data
System-generated interest is rarely reversed

“Interest/penalty relief is possible, but SARS applies strict criteria and it’s not guaranteed — especially where SARS believes you had enough information to estimate accurately.” Herman notes.

Why February IRP6 Errors Trigger Future Audits

One of the least understood consequences of a weak February IRP6 is that the damage doesn’t always show immediately. SARS tracks behaviour patterns.
A February submission that:
is materially understated
contradicts VAT or PAYE data
shows inconsistent growth patterns

…may not trigger an immediate audit, but it raises a flag.

“We often see audits triggered months later,” Herman explains, “and when we look back, the first red flag was the February IRP6.”

Why “We’ll Fix It at IT14” No Longer Works

Historically, many businesses relied on the annual ITR14 submission to correct provisional tax estimates. That safety net has narrowed significantly.

By the time ITR14 is submitted:

Provisional tax penalties may already be locked in
Interest has already accrued
SARS has already assessed compliance behaviour

“IT14 is no longer a clean-up tool,” Herman says. “It’s a confirmation of what SARS already suspects.”

Ensure Your IRP6 Submission
Is SARS-Compliant

We help align your IRP6 with your accounting records, VAT, and PAYE data to support accuracy and reduce compliance risk.

Get a FREE Consultation

The Smarter Approach to the 27 February IRP6 Deadline

The February IRP6 should never be treated as a formality. It is:
A financial checkpoint
A compliance signal
A SARS risk assessment moment

Businesses that approach it strategically stay compliant, protect cash flow, and reduce audit exposure. Those who don’t often only realise the impact months later.

How Company Partners Helps You Get the February IRP6 Right

Company Partners supports your February IRP6 submission by:
Doing your provisional tax estimates to meet SARS’ stricter February accuracy expectations.
Benchmarking your IRP6 against historical performance, VAT, and PAYE data.
Identifying and correcting compliance risks early.
Aligning your IRP6 with your ITR14 and broader tax profile.
Helping you catch up on outstanding accounting or tax work in a structured, SARS-safe manner.
Preventing unnecessary penalties and interest.
Monitoring your compliance status to protect tax clearance, funding, and tender eligibility.

In short, Company Partners ensures your February IRP6 is accurate, compliant, and audit-ready – not just submitted. With over 50,000 South African businesses supported since 2006, we understand how SARS thinks and how to keep you one step ahead.

Final Thoughts: February Is Where Good Businesses Get Tripped Up

Most IRP6 penalties don’t come from negligence. They come from misunderstanding how February tax payments work. The 27 February deadline isn’t just another date on the calendar; it’s a moment when SARS expects accuracy, consistency, and credibility.
If you’re unsure whether your estimates are solid, your books are aligned, or your risk is under control, now is the time to act.

Contact Company Partners today to help you submit correctly, confidently, and compliantly before SARS decides for you.

Contact us today!

The post IRP6 Company Tax Return: Why Accuracy Matters in 2026 appeared first on Company Partners.

Preparing Your ITR14 Company Tax Return Early Can Save You Thousands

Gert — Fri, 16 Jan 2026 06:00:39 +0000

Table of Contents

Tax & Accounting

Preparing Your ITR14 Company Tax Return Early Can Save You Thousands

Published on 16 January, 2026

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.”

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
Difficulty obtaining a tax clearance certificate
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

Get expert guidance, a free tax backlog review, and professional accounting support to avoid penalties and audits.

Get a FREE Consultation

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:
Tax Clearance Certificates
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.

Get a FREE Consultation

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:
Expert ITR14 preparation and submission
Free tax backlog review
Monthly accounting packages
Alignment of VAT, PAYE, and income tax
Assistance with tax clearance certificates
Audit-ready compliance support
Acting as your SARS Representative

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

The post Preparing Your ITR14 Company Tax Return Early Can Save You Thousands appeared first on Company Partners.

Voluntary VAT Registration: Who Should Consider It and Why

Gert — Thu, 15 Jan 2026 06:00:10 +0000

Table of Contents

Tax & Accounting

Voluntary VAT Registration: Who Should Consider It and Why

Published on 15 January, 2026

For many South African entrepreneurs, VAT registration, particularly voluntary VAT registration, often feels like a step reserved for big businesses. But more SMEs are discovering that registering for VAT can unlock growth well before reaching the compulsory R 1000 000 annual turnover threshold required under Section 23(1) of the VAT Act 89 of 1991.
Whether you’re trying to win tenders, supply large corporates, or claim back the VAT you’re already paying on business expenses, voluntary VAT registration can be a smart strategic move, not just another compliance task.
However, the decision isn’t one-size-fits-all. VAT affects your pricing, cash flow, and how customers perceive your business. This guide helps you understand when voluntary VAT registration makes sense, who benefits most, and what practical steps to consider.
Since the beginning of the year, Company Partners has registered and advised 1109 businesses on VAT registration for small businesses and ongoing submissions, and tax support.

VAT Registration vs Voluntary VAT Registration: What’s the Difference?

Mandatory VAT Registration
Your business must register for VAT when its total taxable turnover exceeds R 1 000 000 in any consecutive 12-month period. This is a legal requirement by SARS (South African Revenue Service)
Failing to register on time can lead to:
Backdated VAT (from when you first exceeded the threshold)
Penalties and interest
SARS audits
A negative Tax Compliance Status (TCS), which can affect tenders and funding
Registering proactively is always safer than being back-dated by SARS. Other than the legal consequences, businesses rarely have the cash flow to pay the penalties or VAT to SARS before they start collecting it.
Voluntary VAT Registration
Voluntary VAT registration applies to businesses below R1 000 000, provided they meet SARS’ minimum criteria.
You may register voluntarily if:
You’ve made R 50 000 or more in taxable supplies in the past 12 months (VAT Act s 23(3))
You intend to make taxable supplies soon (certain intending vendors may apply below this threshold with sufficient proof (see SARS VAT 404 Guide, Chapter 2.3.3)
You want to claim back input VAT on expenses
You want to strengthen credibility when applying for tenders or large contracts
Voluntary registration can position your business as established and compliant, but only if it aligns with your business model and cash-flow capacity. Your customers might also request it, as they are paying VAT and can then offset your VAT invoices against their VAT.
For smaller enterprises, it’s worth looking at tailored support for VAT registration for small businesses.

Before you even start a VAT application, make sure your SARS Registered Representative details are updated — SARS often won’t finalise VAT registrations if this is wrong. You can get help with this via Company Partners’ SARS-registered representative service.

Who Should Consider Voluntary VAT Registration?

Voluntary VAT registration isn’t for every small business. However, it can offer a strategic advantage for specific industries or business stages.
1.Businesses Applying for Tenders
Government departments, municipalities, SOEs, and many corporate suppliers prefer or require VAT-registered vendors. This helps them potentially claim back on VAT.
Being VAT-registered can:
Improve your credibility
Strengthen your compliance scores
Simplify inclusion on supplier databases
Many SMEs only realise this after losing tender opportunities, not because of capability, but because they lacked a VAT number.
2.B2B Suppliers (Selling to VAT-Registered Businesses)
If your clients are VAT vendors, they can claim VAT back on your invoices, making your VAT-inclusive pricing effectively cheaper for them than that of non-VAT businesses.
This is especially relevant in:
Construction
Wholesale and distribution
Manufacturing
IT and consulting services
Being VAT-registered helps you stay competitive and appeal to higher-value clients.
3.Start-ups With Large Input Costs
If your early-stage business costs include equipment or machinery, stock purchases, software or vehicles, or even marketing and setup expenses, registering for VAT allows you to claim back the input VAT on these items. This can significantly improve your early cash flow and reduce your overall startup costs.
It is important to note that you will have to do everything by the book to ensure the VAT claims are approved. SARS is strict when it comes to VAT claims due to the frequent VAT fraud.
For many new SMEs, it’s helpful to align this with a VAT registration process built for small businesses.

If you’re about to make a once-off, high-value purchase (like a vehicle, machinery, or bulk stock), consider applying for VAT registration before you pay for it, so you can claim the input VAT back sooner.

4.Businesses Preparing for Growth
If your projections suggest you’ll exceed R1 000 000 turnover in the next 12–24 months, registering early helps you:
Adjust pricing structures
Establish strong bookkeeping habits / structures
Avoid future administrative pressure
Early compliance gives you a smoother scale-up path. Don’t forget to employ the services of a professional accountant or tax specialist to ensure your accounting meets SARS requirements.
5.Importers and Exporters
VAT registration allows importers to claim VAT on import duties and helps exporters manage zero-rated supplies efficiently. For cross-border businesses, this is almost essential.
It’s important to note: Import VAT can only be claimed when the business is already VAT-registered at the time of import.

Benefits of Voluntary VAT Registration

Below are the main advantages of registering voluntarily, drawn from real SME cases managed by Company Partners since 2006.
1.Claim Input VAT on Business Expenses
You’re already paying VAT on most business costs. If you’re not VAT-registered, that money is simply lost.
VAT-registered vendors can claim input VAT on:
Rent and utilities
Stock and materials
Professional services
Equipment and vehicles
Marketing and advertising
This can save thousands of rand every year.
2.Improved Business Credibility
A VAT number signals professionalism, credibility, and financial structure. Clients and investors see VAT registration as a marker of a compliant, scalable business.
3.Access to More Tenders and Supplier Lists
Many tenders require a valid VAT number and proof of compliance. According to our Tender Division, VAT non-compliance is among the top five reasons SMEs are disqualified from bids.
4.Potential VAT Refunds in Early Stages
When your expenses exceed your income (common in startups), you may qualify for VAT refunds. These refunds are subject to SARS verification but can provide essential working capital.
5.Better Financial Habits
VAT registration encourages structured bookkeeping and regular reporting, a foundation for long-term financial health.

Benefit
What It Means for Your Business
Claim input VAT
Save money on business expenses
Access bigger clients
Gain access to tender opportunities
Improve credibility
Strengthen brand perception
Possible VAT refunds
Boost cash flow in early growth
Professional bookkeeping
Build a stronger financial foundation

Keep every VAT invoice in your company’s name (not your personal name) and ensure it shows the supplier’s VAT number — SARS will disallow claims that don’t meet these basic invoice requirements.

Disadvantages of VAT Registration On Your Own

While VAT offers benefits, inaccurate registration can cause friction.
1. More Administration
VAT returns are usually due every two months. You’ll need accurate:
Tax invoices
Receipts
Bank reconciliations
VAT submissions via SARS eFiling
Without proper support, this can become burdensome. Company Partners’ Monthly Accounting Services can manage this for you to take the burden off your shoulders and give you peace of mind that your accounting stays up to date.
2. Risk of Penalties if You Submit Late
SARS imposes penalties, interest, and possible audits for late VAT submissions. Most new VAT vendors face penalties due to inexperience, something an experienced accounting team helps prevent.
3. Forgetting Important Dates and Procedures
VAT must be paid to SARS by the 25th of the month following the tax period.
We assist SMEs in choosing between:
Invoice basis – standard for vendors with turnover above R2.5 million
Payment basis – better for small businesses with irregular cash flow

Open a separate “VAT savings” account and move the VAT portion of each invoice into it as soon as clients pay. It’s one of the simplest ways to avoid using VAT money for day-to-day expenses.

4.Voluntary VAT Registration Checklist
Before deciding, ask yourself:
Do you plan to grow quickly?
Do you have significant business expenses?
Are you applying for tenders or supplier listings?
Do you have accounting support in place?
If you answered “yes” to most, voluntary VAT registration is worth exploring.

How to Register for VAT with SARS Step-by-Step

Once you’ve decided that VAT registration is right for your business, the next question is: What exactly must I do with SARS? These are the typical steps, based on SARS’ guidance for VAT registration and vendor applications.

Check that you qualify and gather your documents

SARS typically requires:
Company or business registration documents
ID documents of the owner/directors
Proof of business address
Recent business bank statements (often three months)
Bank confirmation letter
Supporting documents that show your trading activity (like invoices or contracts)

Register for SARS eFiling and update your Registered Representative

If you’re not yet on eFiling, you’ll need to register an eFiling profile first. Once that’s done, make sure your SARS Registered Representative details are correctly captured — SARS uses this person as the official point of contact for tax and VAT matters.
If your details are outdated or incorrect, you can get specialist help through Company Partners’ SARS-registered representative service.

Start the VAT registration on eFiling (RAV01 / VAT101)

On eFiling, VAT registration is usually done through the “Registration, Amendments and Verification” (RAV01) process:
Log into eFiling.
Go to your SARS Registered Details.
Select the option to add VAT as a tax type.
Complete the required VAT registration details — this is the electronic version of the VAT101 registration form.
In some cases, SARS may still require a physical or PDF VAT101 form and might request a branch appointment or interview.

Submit the application and upload supporting documents

After submitting your VAT registration details, SARS will usually generate a Registration Application Review Notice on eFiling, indicating what supporting documents you must upload and the timeframe to do so (often 21 business days).

Wait for SARS verification and your VAT Notice of Registration

SARS may:
Approve your application immediately, or
Ask for additional documents, or
Schedule an interview or further verification
Once approved, SARS will issue a VAT Notice of Registration with your VAT number, available on eFiling under “Notice of Registration”.

Don’t wait until the last minute. SARS can issue a VAT number quickly when there are no risks or missing documents, but any discrepancies (wrong banking details, missing proof of address, etc.) can cause delays.

How Company Partners Supports Your VAT Journey

At Company Partners, we make VAT simple — from registration to ongoing compliance.

Fast VAT Registration

We handle the SARS application process and all supporting documents for you, including cases where you need VAT registration for small businesses.

SARS Representative Setup

We ensure your business has a verified SARS profile and registered representative to avoid registration delays.

Monthly VAT Submissions & Accounting

Our accounting team files accurate VAT returns on time, keeping you audit-ready and compliant, through services like our Monthly Accounting offering.

Tax Returns & Ongoing Compliance

We align your VAT records with your overall tax obligations and income tax returns, using dedicated tax return support to ensure your business remains SARS-compliant throughout the year. Not sure yet? Watch our YouTube video on VAT Registration for a quick summary and what you need to know.

FAQs Based on Real SME Questions

Do you pay tax if you’re VAT-registered?

Yes. VAT is separate from income tax. You still submit income tax returns and tax returns for your business.

Can a sole proprietor register for VAT?

Yes. Freelancers, consultants, and sole traders can all register if they meet the turnover criteria or can prove intent to trade.

How much must you earn before registering?

You must register once your total taxable turnover exceeds R1 000 000 in any consecutive 12 months. You may register voluntarily from R 50 000, or earlier with proof of intent (per VAT Act s 23(3)).

How do you claim VAT back?

By submitting valid VAT returns with proper invoices through SARS eFiling. Many SMEs use an external accountant or a monthly accounting service to ensure claims are accurate and properly supported.

What happens if I don’t register when I should?

SARS may backdate VAT, charge penalties and interest, and mark your tax status non-compliant.

Final Word

Voluntary VAT registration can be a powerful tool, but only when aligned with your business model and growth stage. If you’re unsure, speak to a compliance expert at Company Partners for practical, step-by-step support tailored to your turnover, your clients, and your long-term goals.

Make voluntary VAT registration work for your business with step-by-step support from Company Partners.

Contact us today!

The post Voluntary VAT Registration: Who Should Consider It and Why appeared first on Company Partners.

What do Accounting Services offer SMEs in South Africa?

Gert — Thu, 30 Oct 2025 06:00:14 +0000

Table of Contents

Tax & Accounting

What do Accounting Services offer SMEs in South Africa?

Published on 30 October, 2025

If you run a small to medium-sized business in South Africa, you’ve probably wondered: Do I really need an accountant? Many entrepreneurs assume accounting services are just about “doing the books” or submitting tax returns once a year. But the reality is far bigger. Professional support, such as monthly accounting services, plays a critical role in keeping your business compliant, protecting you from penalties, and helping you grow.

As Herman C Miny, resident tax and accounting specialist at Company Partners, explains:

“Most people think accountants only show up at tax season. The truth is, accountants are active every month, behind the scenes, keeping your business compliant, saving you money, and helping you make smarter decisions.”

In the past 3 months, Herman and the other accounting specialists at Company Partners, have been requested to help more than 160 clients with tax and accounting services in order to grow their businesses and help them avoid costly mistakes, and so that they can focus on running their businesses successfully.

Make Your Finances Work Smarter For You

Let our accountants handle your books, compliance, and tax - so you can focus on growth.

Get a FREE Consultation

The Core Role: What Does a Small Business Accountant Do?

So, what does a small business accountant actually do? Here’s the real scope of company accounting:
Monthly bookkeeping & reconciliations – Every transaction is captured and checked. Our monthly accounting services make sure your records are accurate, so you always know where your business stands.
Payroll & staff compliance – Managing payslips, PAYE, UIF (or even SDL), and employee tax correctly. Even small errors here can trigger SARS penalties.
VAT management – From VAT registration to monthly VAT returns, accountants keep your submissions clean and on time.
Tax submissions – Quarterly IRP6 filing and annual tax returns done accurately, preventing late fees or audits.
Financial reporting – Profit-and-loss statements, balance sheets, and cash flow reports – practical insights to manage your business, not jargon.
Compliance support – Need a tax clearance certificate for tenders? Or help with a tax backlog review? Accountants take care of it.
Forecasting & planning – Helping you budget, prepare for growth, and build realistic financial goals.

Herman puts it simply:

“Think of your accountant as the guardian of your financial health. They don’t just crunch numbers; they make sure your business stays alive and ready for opportunities.”

Why DIY Accounting Isn’t Enough

Many entrepreneurs try to “Google their way through accounting” or lean only on tools like Xero or Sage. While digital software is helpful, it doesn’t replace professional knowledge of South African tax laws.
Neither will it help you when SARS comes asking questions.
Common DIY pitfalls include:
Missing VAT or IRP6 deadlines.
Logging expenses incorrectly, leading to higher tax bills.
Payroll miscalculations that cause penalties (and unhappy staff).
Lack of forecasting, leaving the business unprepared for downturns.
Trying to claim VAT where you’re not allowed.
Accounting Records are missing preventing a business from applying for funding.

Herman warns:

“Software can capture data, but it cannot interpret South African tax law. That’s where costly mistakes happen.”

Expert Tip: If your turnover is nearing R1 million (the VAT threshold) or you’re applying for tenders, professional accounting companies in South Africa are not optional - they’re essential.

When Should You Hire an Accountant?

A common question is: At what point is it worth getting an accountant?
Here are some clear signs:
You spend more than 5 –10 hours a month on business admin such as payroll, invoicing, etc., instead of sales.
You’re preparing for VAT registration.
You employ staff and need payroll compliance.
You’re applying for funding or tenders that require a tax clearance certificate.
You’ve received confusing letters from SARS or need help with a tax backlog review.

Herman explains it best:

“If your business is growing, your admin burden grows faster. Hiring an accountant isn’t a cost – it’s an investment in keeping that growth sustainable.”

Simplify Accounting. Maximise Results. Start Now.

From payroll to tax returns, we manage it all accurately and on time.

Get a FREE Consultation

The Benefits of Having an Accountant in South Africa

So, what are the benefits of having an accountant?

Benefit Impact on Your Business

Time saved Focus on clients and growth instead of admin.

Tax efficiency Proper deductions and structuring mean lower tax bills.

SARS protection Accountants handle audits, disputes, and submissions.

Compliance peace of mind Avoid penalties and legal issues, which can take years to resolve with SARS.

Smarter decisions Reports & forecasts guide growth and funding.

Business growth Up-to-date books unlock funding, contracts, and tenders.

Or as Herman says:

“A good accountant doesn’t just save you from penalties. They unlock opportunities you’d never qualify for if your books weren’t clean.”

Common Questions Entrepreneurs Ask

Do I need an accountant if I use Xero?

Yes. Xero records your transactions, but only an accountant applies tax law and ensures compliance.

Can an accountant help me save on tax?

Definitely. From VAT claims to structuring salaries, accountants find tax savings (within the law) that DIY business owners often miss.

Why would you have an accountant instead of DIY?

Because mistakes are expensive (SARS can charge up to 300% penalties on the amount they think you should pay). A late IRP6 submission or misfiled VAT return can cost thousands or even millions in penalties.

Is an accountant worth it for a small business?

Yes – especially in South Africa, where SARS compliance, tenders, and funding all rely on accurate accounting.

Do I need an accountant if I’m a sole proprietor?

Even sole proprietors benefit from professional support, particularly once income grows past R350k a year or VAT registration becomes a factor. Due to your business and your personal tax affairs being seen as one and the same, it is important to ensure your accounting is accurate.

Accountants as Growth Partners - Not Just Number-Crunchers

One of the biggest myths is that accountants only look backward at numbers. In reality, the best accounting service for small businesses acts as a growth partner. Here are a few examples of the benefits to business industries where monthly accounting services could be very helpful.
Imagine you’re running a restaurant. If you misclassify supplier invoices, you could face a large VAT penalty. An accountant ensures your expenses are correctly allocated and VAT claims are accurate.
If you’re in construction, government tenders often require a valid tax clearance and clean books. Without these, your application won’t even be considered – your accountant makes sure they’re ready.
Running an online store? Forecasting and cash flow management from an accountant helps you decide if you can safely expand, buy stock in bulk, or invest in marketing without running short on working capital.

Expert Tip: Treat your accountant like a coach - ask them “what if” questions about your growth, not just past compliance.

Herman sums it up:

“Accountants are like co-pilots. You fly the plane, but we watch the radar, the fuel, and the weather so you can focus on the destination.”

Stay Compliant, Stay Confident, Work Smarter

Avoid SARS penalties and year-end stress - our experts keep your business fully compliant.

Get a FREE Consultation

DIY vs Accountant vs Company Partners

Here’s how Company Partners fits in compared to DIY solutions or traditional accounting firms:

Approach DIY (Google & Software) Traditional Accountant Company Partners

Cost Low upfront, but high risk of penalties Often very expensive Affordable monthly packages

Time Owner spends 10+ hrs/month Accountant-driven Done-for-you

Compliance Easy to miss SARS deadlines Usually compliant Always compliant, with reminders

Growth support Limited (no forecasting) Sometimes included Forecasting + compliance + growth focus

Accessibility Online tools only Often office-based Digital, national reach, quick turnaround

Is It Time to Get an Accountant?

The truth is: small business accounting isn’t optional if you want to grow. From monthly accounting services to VAT registration and tax clearance certificates, professional support saves money, protects your reputation, and frees your time.
If you’re asking: When should I hire an accountant for my business? – the answer is probably now.

Herman leaves business owners with this thought:

“Your accountant should be more than a bookkeeper. They should be your partner in building a compliant, tax-efficient, and future-proof business.”

Why Company Partners is the Smart Choice

Accounting is often seen as a necessary evil, but when done right, it becomes one of the most powerful tools a business owner can rely on. In South Africa’s competitive environment – where compliance, tenders, and funding are tightly connected to your financial records – the difference between “DIY accounting” and professional support can mean the difference between stagnation and growth.
Here’s the bigger picture:
Without an accountant, you risk costly mistakes, wasted time, and missed growth opportunities.
With a traditional accountant, you may get compliance covered, but you often pay steep fees and don’t always receive proactive advice.
With Company Partners, you gain affordable, professional, and forward-looking support. We combine compliance with strategy, helping small businesses thrive – not just survive.

And because we specialise in SMEs, we understand the realities you face: fluctuating cash flow, the stress of VAT deadlines, and the pressure of keeping SARS satisfied. We’ve helped thousands of entrepreneurs – just like you – register, remain compliant, and build sustainable businesses with practical tools and hands-on guidance.
So, is an accountant worth it? Absolutely. The real question is: Can you afford to run your business without one?

Ready to shift your focus from paperwork to profits?

Start with our Monthly Accounting Services today and discover how much easier - and safer - business ownership can be with the right partner at your side.

Get a FREE Consultation

The post What do Accounting Services offer SMEs in South Africa? appeared first on Company Partners.

Know your Accounting Costs in Minutes – Accounting Calculator for SMEs

Gert — Tue, 14 Oct 2025 09:02:07 +0000

Table of Contents

Tax & Accounting

Know your Accounting Costs in Minutes – Accounting Calculator for SMEs

Published on 14 October, 2025

Running a business in South Africa comes with enough uncertainty; your accounting costs shouldn’t be one of them. At Company Partners, we’ve seen too many SMEs caught off guard by unclear or unpredictable monthly accounting packages (and fees). That’s why we’ve launched our new Accounting Package Calculator.
This free online tool gives business owners instant clarity about what their accounting package might cost before they commit.

Try NOW

How it Works

Why SMEs Struggle with Unclear Accounting Costs

For many entrepreneurs, accounting feels like a black box. You know you need it to stay compliant, but:

Quotes often vary widely between providers.

Costs aren’t always explained upfront.

Unexpected additional fees are charged for requirements like Annual Financial Statements (AFS).

This lack of transparency can make planning and trusting an accounting partner difficult. It also creates stress for business owners who simply want to focus on growing their business.

Take Control of Your Accounting Costs

Get clear, upfront pricing in minutes with our free Accounting Quote Calculator — no hidden fees, no waiting.

Calculate Now

What Monthly Accounting Packages Should Include

Bookkeeping: Recording all income and expenses accurately and on time.
Bank Reconciliations: Matching your bank statements with your accounting records every month.
Monthly Management Reports: Providing clear summaries of your income, expenses, and profit to track performance.
General Ledger Reviews: Checking that all transactions are correctly allocated and compliant with SARS standards.
Tax Returns: Ensuring your tax balances and submissions stay accurate and up to date.
VAT Returns (if applicable): Preparing and submitting VAT returns to SARS when due.
Monthly Support & Guidance: Regular communication with your accountant to explain your figures, answer questions, and help you plan ahead.

How Our Accounting Calculator Solves the Problem

Our Accounting Quote Calculator removes the guesswork. By answering a few simple questions about your business, you’ll receive a personalised monthly cost estimate in minutes.
It’s fast, clear, and tailored to your business needs. Most importantly, it shows you that at Company Partners, we believe in transparent, predictable pricing that grows alongside your business.

Step-by-Step: How to Use the Accounting Calculator

Using the calculator is very simple:

Input Requirements:

Enter your business details such as company name, contact details and the industry you operate in.
Complete the questions on basic financial information such as how many bank accounts you have, are you VAT registered and how many invoices your send out per month.
Not sure about the information? No problem simply enter a ‘0’.
Once you complete all the information the Accounting Calculator will show you the monthly accounting fees (offered by an accredited Professional Accountant).
Press Submit to get your quotation in writing straight to your Inbox!
Take the next step and you’ll be connected directly with our Accounting Team to finalise your tailored package and get started.

Functionality:

The Accounting Package Calculator calculates your approximate monthly accounting fees by comparing your current compliance with the number of monthly transactions and submissions. Whereafter, it determines what the fee would be to manage your monthly accounting needs.
The quotation does not take into account any outstanding accounting work or tax backlogs. Our Accountants can assist with an additional once-off quote for any backlog work.

Data Privacy:

All information entered is secure and confidential and adheres to POPI.

Ready for Clear, Reliable Accounting?

Know your costs upfront and partner with Accountants who keep your business compliant and growing.

Get a FREE Consultation

More Than a Calculator: Your Gateway to Reliable Accounting Support

While the calculator gives you a quote, our real value lies in the end-to-end accounting services behind it.

Whether you’re a new SME or an established company, our accounting team is here to:

Keep your books accurate and compliant.

Provide expert advice that supports smarter decisions.

Save you time so you can focus on running your business.

We offer a FREE backlog review to see if your taxes are up-to-date. Should you not be compliant, we can assist with getting you back on track with your outstanding Accounting and Taxes.

Try the Accounting Quote Calculator Today

Clarity in your finances starts with knowing your costs. With our Accounting Quote Calculator, you can discover your tailored monthly accounting fee in just a few clicks.
Click here to try the calculator now and take the first step towards simple, transparent, and reliable accounting with Company Partners.
At the end of the day, your business deserves more than guesswork when it comes to accounting. With our Accounting Quote Calculator, you’ll know exactly what to expect – upfront and in minutes.
Stop wasting time chasing monthly accounting quotes. Start focusing on what really matters: growing your business with a trusted partner by your side.

Try the Accounting Quote Calculator today and let Company Partners handle the numbers while you handle the growth.

Contact us today!

The post Know your Accounting Costs in Minutes – Accounting Calculator for SMEs appeared first on Company Partners.

IRP6 Provisional Tax: Act Before 29 August 2025

Gert — Tue, 05 Aug 2025 10:57:42 +0000

Table of Contents

Tax & Accounting

IRP6 Provisional Tax: Act Before 29 August 2025

Published on 5 August, 2025

All registered companies in South Africa must submit their IRP6 provisional tax return by 29 August 2025. This mid-year submission is essential to remain compliant with SARS. Missing the deadline can result in penalties, interest, and unnecessary compliance headaches.
In this article, we discuss everything you need to know to avoid penalties and stay compliant.

What is an IRP6?

Provisional tax is not a separate tax – it’s a system that allows companies to prepay a portion of their income tax to SARS based on estimated income and expenses. SARS requires all companies to submit their IRP6 return twice a year – by end of August and end of February.
Submitting a Provisional Tax Return helps manage your tax liability throughout the year and avoids a large tax bill when SARS issues your final assessment.

IRP6 Deadline: Submit Before 29 August 2025

Avoid penalties, protect your tax status, and stay compliant with SARS. We handle it all -fast, accurate, and stress-free.

Get a FREE Consultation

Who Must Submit?

All registered companies are automatically considered provisional taxpayers whether they are actively trading or dormant. This includes:

(Pty) Ltd Companies

Close corporations (CCs)

Any business that is formally registered with CIPC

If you are trading as a sole proprietor and your income is more than R30,000 per year, you are also considered a provisional taxpayer.

Benefits of Submitting on Time

Avoid SARS penalties and interest.
Smooth out cash flow across the year.
Maintain a clean compliance record.
Remain eligible for tenders, tax clearance, and funding.

How to Submit Your IRP6

Access Your eFiling Account

Log in to SARS eFiling.

Locate the IRP6 Return

Go to Returns → Provisional Tax (IRP6).

Enter Your Financial Estimates

Enter your estimated income and deductible expenses.

Let SARS Calculate the Tax

SARS calculates the tax due.

Finalise and Pay on Time

Submit and pay by 31 August.

Stay Eligible for Tenders, Tax Clearance & Funding

We’ll help you submit your IRP6 accurately and on time - so your business stays compliant and ready for opportunity.

Talk to a Tax Expert

SARS Enforcement & Scrutiny

SARS has significantly increased its enforcement on provisional taxpayers. Key measures include:
Data Analytics & Machine Learning: Using sophisticated tech, SARS now flags under‑payments or suspicious estimates more aggressively, and rejects the old ‘reasonable grounds’ excuse for waiving interest.
Trusts & Provisional Tax Under the Microscope: Returns from trusts and provisional taxpayers surged in 2024, triggering closer scrutiny. SARS warns that non‑compliance is a criminal offence and will trigger penalties, interest, and audit risk.

Read our article on how on SARS’ new improved their methods to eliminate non-compliance.

Penalties & Interest Rates:

Late payment penalty of 10% on any unpaid amount (even for a day) for each payment period. 
Under‑estimation penalty if your final income exceeds your second estimate. 
Interest accrues at the prescribed SARS rate (~10% p.a.), and relief is seldom granted now.

Consequences of Missing the Deadline

As mentioned above,10% penalty per overdue amount.
Interest compounding daily.
SARS may estimate your taxable income and issue an assessment.
Compliance status culprits—affecting tax clearance, tenders, and funding.
Increased risk of audit and SARS intervention.

Missing the IRP6 Deadline Can Cost You

SARS now uses AI to flag late or incorrect returns. Don’t let penalties, interest, or audit risk catch you off guard.

Get IRP6 Help Today

How Company Partners Can Help

Our experts provide:
Accurate estimation of taxable income to minimise penalties.
Tax strategy to spread payments and manage cash flow
Full eFiling return submission support.
Ongoing monitoring to keep you compliant and audit‑ready.
We have a SmartTax Tool that can assist with calculating how much you could save on taxes.
We can fast-track your IRP6 submission before 29 August — stress‑free.

Want a FREE Tax Backlog Review for your business?

We specialize in helping South African SMEs and entrepreneurs get back on track with their outstanding Tax and Accounting.
Our Tax specialists can provide you with a FREE Tax Backlog review to identify what is outstanding at SARS and set up a personalised plan to address your Tax backlog, payment plan with SARS and outstanding accounting work required.
Requirement: Company Bank Statements
Timeframe: 1 Week

Apply Now

There is no risk for you – just reward! T&C’s Apply.

In Closing

Don’t underestimate your IRP6 submission. Submit before 29 August and avoid unnecessary tax drama. If you’re not sure of your numbers or just don’t have time, Company Partners is here to assist.

Don’t risk non-compliance, contact us now for fast, professional expert help.

Contact us today!

The post IRP6 Provisional Tax: Act Before 29 August 2025 appeared first on Company Partners.

IRP6 Filing Made Easy: The Benefits of Partnering with Compliance Specialists

Gert — Fri, 01 Aug 2025 03:00:01 +0000

Table of Contents

Tax & Accounting

IRP6 Filing Made Easy: The Benefits of Partnering with Compliance Specialists

Published on 1 August, 2025

Provisional tax. IRP6. eFiling. SARS deadlines. If these words make your heart race or your palms sweat, you’re not alone. For South African entrepreneurs and SMEs, navigating the world of tax compliance, especially understanding IRP6 provisional Tax, can be a minefield. But there’s good news: with the right compliance specialists in your corner, IRP6 filing doesn’t have to be a hassle.
In this article, we break down what is an IRP6 is, explain the difference between IRP6 and ITR14, explain how to submit your IRP6 on eFiling, and outline why partnering with experts like Company Partners could save you time and money.

Companies

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In the past 3 months, we have successfully assisted 140 South African businesses with tax compliance services.

What is an IRP6 Provisional Tax?

Provisional Tax is not a separate type of tax. It’s simply a way for SARS to collect your company’s income tax in advance, instead of waiting for one large payment at year-end.
Companies submit an IRP6 return twice a year – in August and February – to declare their estimated taxable income and make payments towards their annual tax liability.
Think of it as splitting one big bill into two manageable payments. This approach supports cash flow, reduces the risk of a year-end shock, and keeps your business compliant.

What Is the Difference Between IRP6 and ITR14?

Many people mix these two up.
IRP6: This form was filled out by temporary taxpayers during the tax year (August and February). It is based on an estimate of income.
ITR14: The full yearly tax return that is due after the tax year ends (usually in July) and is based on real income and expenses.

So, the ITR14 is the final amount, and the IRP6 is like a “pay as you go” option.

Who Is Required to Pay Provisional Tax in South Africa?

In accordance with the Income Tax Act, No.58 of 1962 – anyone who earns income other than through a fixed salary (PAYE), is automatically considered a provisional taxpayer.
Typical provisional taxpayers include:
Companies and Close Corporations (CCs).
Trusts (excluding certain exempt trusts).
Sole Propriotors and Freelancers.
In short, provisional tax applies to businesses and individuals whose income is not fully subject to PAYE deductions.

If that sounds like you, you are a Provisional Tax Payer. It is mandatory for you to submit and pay according to IRP6 twice a year, or you will face serious consequences.

Who is excluded from having to submit an IRP6?

Excluded from being a provisional taxpayer as defined are any –
approved public benefit organisations or recreational clubs that have been approved by the Commissioner in terms of s30 or s30A;
body corporates, share block companies or certain associations of persons that are exempt from tax;
non-resident owner or charterer of ships or aircraft;
natural person who does not earn any income from carrying on any business—provided that person’s taxable income will not be more than the tax threshold (for 2023 tax year: for taxpayers below age of 65 – R91 250; age 65 to below 75 – R141 250 and age 75 and over – R157 900); or the taxable income of that person (earned from interest, foreign dividends, rental from letting of fixed property, and remuneration from an unregistered employer) will not be more than R30 000;
a small business funding entity;
a deceased estate.
any association that has been approved by the Commissioner under section 30B(2)

When Should You File the IRP6?

Every year, there are two due dates for IRP6 forms:
The first period ends at the end of August and includes income from March to August in the same year. The second period ends at the end of February in the next year and includes the whole tax year from March to February.
Let’s use an example in this table:

1^stProvisional tax return
2025/08/30
2024/08/31
2^ndProvisional tax return
2026/02/28
2025/02/29
Top-up payment (Optional)
2026/09/30
2025/09/28
Income tax return
2027/01/23
2026/01/23

The IRP6 deadlines can’t be changed, and if you miss a SARS deadline, you will have to pay thousands of Rands in fines and interest. That’s why it’s important to submit on time and correctly.

How do you know how much your provisional tax should be?

The amount of provisional tax payable by a company is based on the estimated taxable income for that year of assessment, calculated as follows:

First Period (August):
Half of the total estimated tax for the full year.
Second Period (February):
The total estimated tax for the full year;
Less the tax already paid in the first period.
It sounds straightforward, but it’s not always simple. Estimating your company’s taxable income can be difficult – especially if revenue fluctuates or comes from multiple contracts. Incorrect estimates or underpayments can result in SARS penalties and interest.
That’s why having professional Accounting and Tax support is crucial to ensure accurate IRP6 calculations and timely submissions.

How do I Submit an IRP6 on eFiling?

Log Into Your SARS eFiling Profile

Go to SARS eFiling and sign in.

Navigate to the IRP6 Return Section

Go to "Returns," then "Returns Issued," and finally "Provisional Tax (IRP6).

Select the Correct Tax Period

Pick the correct tax year and time frame.

Complete the IRP6 Form

Fill out the form with your projected taxable income and the amount of tax you owe.

Submit and Make Payment

Submit the completed return and make the necessary payment.

Consequences of Not Filing an IRP6

Not meeting your IRP6 responsibilities can cost you money:
Fines for late submissions: fixed fines and fines based on a percentage
Interest: Added to payments that are late
SARS audits: Your chance of being audited goes up if you don’t always pay your taxes.
Damage to your reputation: This could hurt your company’s reputation and make it harder to get to apply for tenders or funding.

If you've already missed a deadline, read what to do if you missed your IRP6 or ITR14 deadline.

The Smart Choice: Partnering With Compliance Specialists

It could feel liberating or overwhelming to do your own taxes. Incorrect IRP6 figures can however, trigger red flags at SARS. Tax experts at Company Partners, will help you calculate estimates using historical data and trends—giving you peace of mind. How?

1. We Keep You Compliant - Effortlessly

SARS does not accept excuses. Our compliance experts make sure you meet all of your deadlines for documentation, declarations, and avoiding penalties and fines.

EXPERT TIP: Check out the monthly accounting services that Company Partners offers to see how they can help you with this.

2. We Make Sure that Estimates are Correct

When it comes to SARS, incorrect IRP6 figures can raise red flags. Using past data and trends, professionals help you with estimates, which gives you peace of mind.

3. We Take Care of Tax Backlogs

Do not worry if you are behind on filing your taxes. Company Partners can review your backlogged taxes and help you get caught up without a fuss.

4. We Speak For You at SARS

We can act as your registered SARS representative on your behalf instead of dealing with SARS calls and emails that are hard to understand.

5. We Can Help You Get Tax Clearance

Need a Tax Clearance Certificate to apply for funding or a tender? Company Partners can get this sorted, often faster than you’d expect.

Here’s an example:
Sipho runs a small marketing consultancy in Johannesburg. Every month, his income varies, and he doesn’t have an accountant. He forgot to turn in his IRP6 forms last year and found out months later that he now owes more than R40,000 in fines and interest.
After signing up with Company Partners our team helped him get a good idea of how much money he made, turned in his IRP6 forms on time, and even flagged a missing tax certificate from a client. Sipho is now compliant, confident, and able to focus on growing his business.

EXPERT TIP: Read our article on why missing tax deadlines could cost you thousands!

Why Choose Us?

Company Partners isn’t just another accounting or tax company; we are experts in the regulations and know how to assist business in South Africa. They make it easy and stress-free to stay in compliance by taking care of everything from tax returns to letters to SARS and full-scale accounting support.
Company Partners is the valued partner of thousands of South African business owners because:
IRP6 Submissions That You Can Trust
Due dates for SARS must be met as soon as possible. Company Partners knows that missing an IRP6 filing can lead to big fines and extra work that wouldn’t have been necesary. That’s why our consultants are trained to handle your Provisional Tax Returns quickly and accurately the first time around. It’s our responsibility to keep an eye on SARS deadlines and send you reminders so you never miss a filing window again. Our streamlined processes ensures that your submission is processed quickly and that you get feedback right away, whether it’s your first time or you’re making up for missed periods.
A Dedicate Team Deals with SARS
When you’re dealing with SARS, it can feel like you’re lost in a maze. Most business owners don’t have the time or patience for it because of all the complicated terms, long waiting periods and confusing portal instructions. Our team talks to SARS directly on your behalf as your agent. They’re there for you whether you need help with questions, disputes, returns, or making sure your IRP6 and ITR14 are linked properly. Our team knows everything there is to know about how SARS works, so problems are fixed faster which causes less interference to your daily operations.
Custom Tax Packages for SMEs and Entrepreneurs
Every business is different. A one-person consulting company doesn’t have the same tax needs as an eCommerce business that’s growing or a real estate owner who makes money from two or more sources. Company Partners makes custom tax packages that fit your business, your income, and industry regulations. We will provide a solution that fits your needs and budget, whether you need one-time IRP6 submissions, monthly accounting, or help with tax planning. This personalised approach makes sure you don’t pay too much for services you don’t require or aren’t ready for SARS audits.
End-to-End Help with Taxes and Accounting
Company Partners can handle all of your financial needs, not just IRP6 submissions:
Bookkeeping every month
VAT returns
ITR14 (Company Income Tax)
Payroll services
Annual financial statements
CIPC compliance and company secretarial duties
This all-in-one offering gives you a single point of contact for all things tax and compliance. Also, you won’t have to choose between an accountant, a bookkeeper, and a tax expert because they are all in the same building. When SARS calls, you’ll be ready – every document, figure, and form will be in place.
Transparent Pricing and Expert Advice
Let’s be honest—financial services can sometimes feel like a black box. You get vague quotes, inconsistent invoices that don’t match up, and not much information about what you’re paying for.
Not with Company Partners!
We take pride in how transparent our prices are and upfront communication. You’ll know how much each service costs and what you can expect in return. No charges out of the blue. No hidden extras.
Even better, our team of tax experts and business consultants gives you clear, jargon-free advice that lets you make smart financial choices.

SARS-registered, and more than 50,000 clients trust us.

With over 50,000 South African businesses supported across industries, Company Partners has built a reputation for speed, reliability, and deep compliance knowledge in different industries. We are registered with SARS, follow the latest tax regulations, and help companies get tax clearance, clear up backlogs, and secure funding by ensuring that your documentation is compliant.
Whether you’re a startup, have a side hustle, or are an established SME – Company Partners helps you build a compliant, scalable foundation for success.
Bottom line? We help you take charge of your business’s financial future at Company Partners, not just file IRP6 forms.

Last Thoughts: Paying Taxes Doesn't Have to Be Overwhelming.

It doesn’t matter how long you’ve been in business or how new you are to it; you must follow Provisional Tax regulations. By knowing what an IRP6 means and submitting your returns on time, you can keep your business from getting fined and missing out on opportunities.
You don’t need to do it by yourself. Work with compliance experts who know everything there is to know about tax law so you can focus on growing your business instead of getting SARS documents ready on time.

Don’t wait for the panic to set in just before the next deadline. Let Company Partners make IRP6 filing easy, accurate, and painless. Contact us today for expert services such as tax returns.

Contact us today!

The post IRP6 Filing Made Easy: The Benefits of Partnering with Compliance Specialists appeared first on Company Partners.

SARS Is Cracking Down in 2025: What Every Business Must Know

Gert — Mon, 21 Jul 2025 06:00:58 +0000

Table of Contents

Tax & Accounting

SARS Is Cracking Down in 2025: What Every Business Must Know

Published on 21 July, 2025

SARS Tax Season 2025 has officially begun in South Africa, but this year comes with a serious warning: SARS is shifting into high gear to hunt down non-compliance.

This is no ordinary tax season,” warns Herman Miny, Tax Specialist at Company Partners.

“SARS has been given a massive war chest and a new army of debt collectors — and they’re determined to use it. Even if you’ve been under the radar before, that’s over. SARS knows a lot more about your business than you might think.”

Backed by over R7.5 billion in funding, and more than 800 debt collection officer already employed in 2024, SARS is deploying advanced AI tools and plans to employ an additional 1700 debt collectors to close the tax gap in 2025. In just one year, the revenue authority has uncovered 156,000 individuals and businesses who failed to register or file returns despite significant economic activity. See the official SARS statement here.

SARS’s New Tools: A Game Changer for Compliance

The 2025 Budget confirmed SARS’s R7.5 billion budget injection to modernise systems, boost enforcement, and leverage data science.
Tools SARS is using include:
AI-powered risk detection systems
Real-time cross-border tracking of funds and goods
Faster scanning technology at ports of entry
Automated matching of third-party data to taxpayer profiles

“We’re not just talking about random audits,” says Miny. “SARS has AI that cross-matches total debits and credits of your bank account balances, payroll data, customs records—even social media.”

Make sure your IT14 (ITR14) is accurate and on time, speak to our tax specialists today.

Contact us today!

How SARS’s Crackdown Affects Your IT14 (ITR14) Submission

SARS’s upgraded systems now cross-check a company’s IT14 (Annual Tax Return) with all available data.

“Businesses used to leave the IT14 for the last minute or under-report, thinking SARS wouldn’t notice. That’s no longer an option,” warns Miny.

AI systems now scan bank balances (total debits and total credits), VAT returns, and third-party data to spot discrepancies between provisional payments and IT14 (ITR14) declarations. Consequences include:
Higher risk of audits
Immediate debt collection follow-ups
Automated risk profiling
Unexpected assessments causing cash flow shocks

“Plan ahead and file your IT14 accurately,” Miny urges. “This is the year SARS will check everything.”

Who Must File IT14 (ITR14) Tax Return?

If your company is registered in South Africa or managed from here, it must pay tax on any money it earns – whether that income comes from inside or outside the country.
All registered companies must file an IT14, including:
Private companies (Pty Ltds)
Close Corporations (CCs)
Incorporated businesses
State-Owned Entities
Non-profits

What If You’re Business is Dormant and Not Trading?

Whether your company trades, is dormant, or hasn’t even opened a bank account yet, SARS tracks every CIPC-registered company number.
If your company is registered with CIPC, but not trading:
You must submit an IT14 (ITR14)
Provide a letter confirming dormancy
Provide bank statements confirming no business activity
Declare no bank account if none exists
Submit a nil return

Avoid penalties and unnecessary stress, let us help you stay fully SARS compliant.

Contact us today!

Why Staying Up to Date Matters

Ignoring your IT14 (ITR14) can lead to:
Penalties of up to 10%
Daily interest on unpaid taxes
SARS issuing garnishee orders to pull funds directly from your bank
Loss of tax clearance, affecting tenders and funding
SARS issuing high estimated assessments

“One missed deadline can spiral into months of stress - and big costs,” says Miny. “Planning beats panicking, so ensure you don’t leave it till the last minute.”

What You’ll Need for Your IT14 (ITR14)

Before logging into eFiling, ensure you have:
Annual Financial Statements (AFS) and/or trial balance – whichever is applicable to your business.
SARS eFiling login
Business bank details (if trading)
Confirming records of income, expenses, and tax calculations

Stay Compliant. Stay Informed. Stay Protected.

One missed tax return can lead to major financial stress. We’ll help you stay organised, meet every deadline, and avoid SARS’s crackdown with our expert accounting and tax services.

Get Free Consultation

How to File Your IT14 (ITR14) via eFiling

Filing isn’t complicated—but accuracy matters:
Log into SARS eFiling
Go to “Returns Issued” → IT14 (ITR14)
Complete all sections
Upload supporting documents (like AFS)
Submit online
Respond to SARS’s follow-ups (e.g. ITA34, document requests)
Pay any tax due—or arrange a payment plan

“Don’t guess. One wrong answer can trigger a SARS investigation. A SARS audit can be extremely time consuming and costly for your business, so file it right the first time,” Miny cautions.

How Company Partners Helps You Stay Compliant

SARS’s intensified crackdown means professional help is more valuable than ever. Handling your IT14 (ITR14) alone can be stressful, especially if you’re busy running your business. Company Partners helps keep you compliant and avoid costly mistakes through:

Monthly Accounting Packages — stay organised and compliant all year
Free Tax Backlog Reviews — catch up fast if you’ve fallen behind
Registered SARS Representative — we handle SARS queries on your behalf
Tax Return Filing and Provisional Tax Reminders — no more missed deadlines
Dormant Company Filing — ensure proper nil returns are submitted
SmartTax Tool — free step-by-step guidance tool for accurate submissions

Don’t Leave Your Tax Compliance to Chance

SARS is stepping up enforcement with advanced AI and aggressive collections—don’t risk costly penalties or a surprise audit. Let Company Partners help you file your IT14 (ITR14) correctly and on time.

Get Free Consultation

Don’t Wait for SARS to Come Knocking

Tax Season 2025 could mark the biggest enforcement drive yet.

“There’s no upside to last-minute filing. SARS has the power to pull funds straight from your business bank account — with fines and interest on top. Filing early protects your cash flow, keeps your business compliant, and avoids sleepless nights,” Miny concludes.

Take Action Now

Company Partners offers a free Tax Backlog Review to check your compliance status and avoid costly mistakes. Don’t wait until SARS comes knocking.
Contact Company Partners today and let us make sure your IT14 (ITR14) is filed correctly and on time so that your business stays off SARS’s radar.

Apply Now

The post SARS Is Cracking Down in 2025: What Every Business Must Know appeared first on Company Partners.

Business Accounting: Monthly Accounting Services vs Doing It Yourself

Gert — Fri, 04 Jul 2025 06:00:29 +0000

Table of Contents

Tax & Accounting

Business Accounting: Monthly Accounting Services vs Doing It Yourself

Published on 4 July, 2025

When you run a small business or are an entrepreneur in South Africa, you juggle multiple responsibilities. You have to do sales, marketing, customer service, and sometimes even banking. A lot of the time, you might want to do everything yourself to save money, but when it comes to business accounting and tax services, you shouldn’t skimp.
If you’ve ever thought, “Can someone help me with my accounting?” “Why should I hire accountants if I don’t make much money?”, this piece was written for you. We talk about the pros and cons of hiring a professional accountant vs. doing your own accounting. We focus on how accounting services like those from Company Partners can help your business run more smoothly and stay SARS-compliant.

Every month, we help almost 400 clients with their business accounting services, allowing them to have peace of mind regarding their business.

Why Business Accounting Matters for Every Entrepreneur

You might think: “I have a small business, do I need accounting and tax services?” The short answer? Yes. Whether you’re making R5,000 or R5 million, proper accounting and bookkeeping services aren’t just about tracking money, they’re about keeping your business legally compliant and financially healthy.
There is a difference between Company and Individual Tax Returns. Find out more here.

What is the Purpose of Accounting in Business

Business accounting is all about knowing your numbers, and goes far beyond annual tax filing. Knowing your numbers will help your business do well all year long. Real accounting is the key to making smart business decisions, but many business owners see it as a once-a-year pain.
Knowing what is happening in your financials allows you to make informed decisions regarding purchasing assets, employing staff, making provision for the difficult times, or even helping with selling the business at some stage (if that is your goal).
Here is a more in-depth look at the most important parts of business accounting and why they are important:

Making a record of transactions (bookkeeping)

This is the very first and most important part of accounting. Writing down every time you sell something, buy stock, pay expenses, pay employees, or get paid by a client is important.
But it’s not just recording transactions; it’s also about:
Ensuring the companies finances and your personal finances don’t mix
Putting purchases in the right category (so you don’t pay too much tax)
Putting bank records back together (to find mistakes or fraud early)
Putting together invoices and documents that SARS may ask for during an audit

Good bookkeeping services keep your records up to date and correct, and leave a strong paper trail. If you don’t have this, you can’t make smart business choices.

The process of preparing financial statements

Financial statements are like your business’s report card. They include:
Income Statement (Profit & Loss): Shows how much your business earns versus how much it spends.
Balance Sheet: Reveals what your business owns (assets) and owes (liabilities).
Cash Flow Statement: Tracks the money flowing in and out.

When you work with Company Partners, they will prepare your Annual Financial Statements (AFS) so that you can make smarter choices.

Calculating and Filing Taxes

If you keep good records and have the right people on your side, tax season doesn’t have to be a nightmare.
A good bookkeeper will:
Find out what tax breaks and benefits you can get without breaking the law.
Make sure you don’t miss any due dates, especially for VAT and PAYE submissions.
Help you stay away from SARS fines
The tax returns for your business and yourself must be filed correctly and on time at least annually.

You have to file taxes by law, even if your business is small. Granted, in certain circumstances, you might benefit from Small Business Corporations Tax, which calculates your business taxes on a different scale. If your income is more than R1 million and you are not registered for VAT, SARS may initiate a review or audit. Want more information on VAT Registration and why it’s worth it for small businesses? This guide will tell you more.
Professional tax and accounting services give you peace of mind and make sure you follow the rules.

Claiming Expenses

Every year, a lot of small businesses lose a lot of money because they don’t record all their expenses they’re supposed to, which could have been legitimately deducted through the business. When you hire a professional accounting service, they can:
Find out what costs you can deduct, such as travel, software and home office bills.
Keep exact records as proof.
Do not make false claims, as this could lead to an audit.

One of the best ways to lower your tax bill and keep more cash in your business is to keep track of your costs properly.

Get Expert Accounting Support

From startup to scale-up, our SARS-registered pros handle your tax, bookkeeping, and compliance, so you stay compliant, save money, and focus on what you do best.

Get a FREE Consultation

Managing Cash Flow

Having lots of sales won’t help if you can’t keep track of your money and account for on what it is being spent. Making sure you have enough cash flow to pay your bills, suppliers, rent, and yourself on time is what cash flow is all about.
Expert accountants can help by:
Predicting when cash flow will be good or bad
Allocating money to the right business functions
Telling people when to spend less or more
Assisting with budgeting
Keep track of payments from debtors and creditors

A lot of companies shut down not because they aren’t making money, but because they run out of cash. Managing your cash flow could mean the difference between making money and going out of business.

Accounting Services vs. Doing It Yourself: A Look at the Differences

Feature
DIY Accounting
Company Partners
Cost
Lower upfront, but high risk
Affordable monthly plans
Tax Filing
Manually researched
Done by SARS-registered professionals
Bookkeeping
Time-consuming and complex
Automated and accurate
Financial Reports
Often skipped
Professionally prepared
VAT Compliance
Easy to miss deadlines and can be confusing
Regular VAT submissions and alerts
Support
Self-reliant
Access to expert help anytime

DIY Accounting: The Risks of Doing It Alone

You might want to save money by doing your own accounts. What could go wrong, though, is this:

Errors and penalties that cost a lot

It can cost you a lot of money to file your taxes wrong, miss dates, or forget to send in your SARS forms. If you don’t file your SARS tax returns by the due date, you could face criminal charges, large fines, and even interest charges on penalties. Find out more about the seriousness and how costly it can be if you miss tax deadlines in this article.

Not Knowing How to Save on Taxes

You might be paying too much tax if you don’t get help from a professional. Small businesses in South Africa can use accounting services to make sure they’re getting all of their tax breaks and deductions.

Not Knowing Enough About Business Taxes

When you do your own accounting, you often end up with records that are out of date or missing information. This means you don’t have enough information to make business choices like setting prices, hiring people, or asking for money.

Reasons why accounting services are very important for small businesses

A lot of small business owners think they don’t need small business tax services because their companies aren’t making any money yet. That story is not true and is very dangerous.
It’s more important to get financial and tax help when your business is small:

Don't make costly mistakes at the start

When taxes are set up wrong or rules aren’t followed, problems can quickly get out of hand. You might have to pay back taxes and interest, or you might not be able to apply for contracts or money anymore.

Get ready for growth

As your company grows, you’ll need:
Correct business information for investors
Compliance with SARS for bids
Payroll handling for staff

Early on, working with a company like Company Partners can save you time and money in the long run.

You have more time to work on your business

You can work on growth, new ideas, and customer service when you’re not busy matching up records or stressing out about VAT.

Why Should You Hire Company Partners for Monthly Accounting Services?

It’s not just a nice thing to do to hire a professional team to do your monthly budgeting; it’s also a smart business move. This is why so many South African business owners choose Company Partners:

1. SARS Compliance Made easy

If you need help with SARS, Company Partners can do everything for you, from filing your company and individual tax returns to being your registered SARS representative. You won’t have to wait in queue or worry about anything.
They also help you get your Tax Clearance Certificate, also known as a Tax Clearance Pin Certificate, which you need for:
The government tenders
Getting funding
Building trust with customers

2. Transparent and Affordable Accounting Services Prices

You might be wondering, “What is the cost of accounting services?” It’s a common concern, especially for entrepreneurs just starting out or running lean operations. The good news is, with Company Partners, you don’t need to choose between quality and affordability.
We understand that monthly accounting fees for small business owners in South Africa can feel like a grudge purchase. That’s why our accounting services prices are structured with transparency and flexibility in mind. No confusing billing structures. No inflated hourly rates.

Our monthly accounting services start at highly accessible rates, with packages designed to grow with your business. These packages include:
Bookkeeping services to track all your transactions
Tax submissions to keep you compliant with SARS
Payroll processing (optional) for teams big or small
VAT returns for businesses required to register or already VAT-compliant
Monthly financial reports so you always know where your business stands

It’s not enough to just tick the boxes to be compliant. It’s about giving you information and power without spending a lot of money.
One of our specialists will speak to you, determine your needs and based on your needs calculate a competitive monthly accounting quote.

The answer is yes to business owners who ask, “Can you help me with my accounting?” The best part is that our prices are clear from the start. There won’t be any hidden costs or extras. You’ll know exactly what you’re getting and how much it costs. Knowing what will happen ahead of time is very helpful for small business owners who need to carefully plan their cash flow.
Our goal is simple: to make top-notch business accounting available to small businesses, individuals, and startups that need it the most. “I don’t make much money, so why should I hire accountants?” is a good question until you miss a SARS deadline or don’t file your VAT return, which will cost you thousands of dollars in fines.

Missed a Tax Deadline? We’ll Fix It Before SARS Finds Out

We handle the submission of missing SARS tax returns, because failing to file can lead to expensive penalties and unwanted SARS scrutiny. Let us help with proactive planning and ongoing support.

Get a FREE Consultation

3. Full-Service Help with Taxes, Accounting, and Bookkeeping

When you choose Company Partners, you don’t just get one piece of the puzzle. You get a full range of tax and accounting services that take care of all your compliance and money management needs in one place.
We’ve made our process more streamlined so you don’t have to deal with multiple service providers, accounting apps, or bookkeepers and tax experts who don’t talk to each other.
When you sign up for one of our monthly accounting services, you get the following:

Accounting Services tailored for small businesses, from reporting to strategy
Bookkeeping Services to keep your financial records in perfect order
Tax & Accounting support, from individual tax returns to company tax returns
VAT Registration for Small Businesses, if your business earns more than R1 million annually or wants to claim VAT inputs
Annual Financial Statements prepared by professionals
SARS Registered Representative services for official SARS correspondence
Tax Clearance Certificate assistance, including Tax Clearance Pin Certificates, essential for tenders or government work

Make use our FREE tax Backlog Review to find out if you have outstanding tax returns.

Smart Tax Support That Helps You Make Better Business Decisions

You’ll be able to talk to a specialised team that gets feedback from relevant departments. This makes sure that the service and advice you get are in line with the latest SARS rules and internal best practices. It’s not just entering info; this is about helping the business make decisions.
We’re here to help you make your financial life easier, whether you’re a worker, a small business that’s growing, or someone who’s just going through a rough patch. You’ll get information in real time, help from experts, and services that save you time and stress.
We help you run your business, which is what you do best, while we take care of the numbers.

In Conclusion, Get professional help or you could fall behind.

It’s not easy to run a business in South Africa, especially when you have to deal with SARS, compliance, wages, and VAT. At first, doing your own books might not seem too hard, but the risks can quickly become greater than the benefits.
If you’ve ever said:
“Can you help with my accounting?”
“I don’t make a lot of money, why should I get accountants?”
“I have a small business, do I need accounting and tax services?”

Then now’s the time to switch to professional help.
Let Company Partners handle your accounting and bookkeeping services, file your business tax returns, and act as your SARS Registered Representative—so you can focus on what you do best: running your business.

Get a unique accounting plan that grows with your business by contacting Company Partners right now.

Contact us today!

The post Business Accounting: Monthly Accounting Services vs Doing It Yourself appeared first on Company Partners.

VAT Registration for Small Businesses: Is It Worth It?

Gert — Fri, 04 Apr 2025 06:00:23 +0000

Table of Contents

Tax & Accounting

VAT Registration for Small Businesses: Is It Worth It?

Published on 4 April, 2025

Is the possibility that your small business might benefit from VAT registration something you’ve been thinking about? Especially now that Value-Added Tax will possibly be increased to 15.5% from May 2025? Many small business owners make the strategic choice to register for VAT for various reasons. Better cash flow, more credibility, and bigger contracts are all possible outcomes. But is it the right choice for your business? Let’s explore the benefits and practical steps to walk you through the VAT Registration process.

What does it mean to register your small business for VAT?

You must register your company for Value-Added Tax (VAT) if the total value of taxable goods or services exceeds R1 million in 12 months or is projected to exceed this amount. Small businesses earning less than R1 million annually can still apply for voluntary VAT registration, provided their taxable income exceeds R50,000 per year.
VAT registration is the process by which businesses register with the South African Revenue Service (SARS) to charge VAT on taxable goods and services. Businesses that register for VAT are required to submit VAT returns and remit VAT collected to SARS. To put it simply, VAT deductions need to be kept apart from your normal turnover/revenue and paid over to SARS within the allocated timeframe as set out here.
Now, let’s look at the different benefits of VAT registration for small businesses.

Main Reasons You Should Consider Registering for VAT as an SME

“Is VAT registration worth it?” is a subject that many small company owners wonder about. Consider you have a small catering business that frequently makes big purchases of products, equipment, and supplies. Without VAT registration, your business could be missing out on increasing your financial position by claiming back relevant expenses that attracted VAT. This is called VAT refunds. So, when should you seriously consider registering for VAT?

1. Landing Bigger Contracts

Companies that have registered for Value-Added Tax tend to attract larger clients. Important contracts could be lost due to a lack of VAT registration. The reason being that the client is unable to try and claim back the VAT if you are not registered. Registering for VAT might be a good idea if you are worried about missing out on a big contract because you aren’t registered yet.

2. Making a VAT Claim for Company Expenses

You might be losing out on potential revenue if your company often makes purchases of goods or incurs costs that are subject to Value-Added Tax. You can improve your financial position by registering and then claiming VAT on these expenses through VAT returns. If you have consistent expenses running your company that qualify for VAT refunds, this would be a good reason to think about it.

3. Increasing the Credibility of Your Company

In many cases, customers and vendors will take your company more seriously because your business seems legitimate and tax-compliant if it is VAT-registered. By improving your company’s image, it can also make your business more attractive to potential investors.

4. Improved Cash Flow

Businesses can improve their short-term cash flow by strategically claiming VAT on qualifying purchases, which allows them to regain some of the money they spend.

What Are the Advantages of Voluntary VAT Registration?

The biggest motivator for companies is the ability to claim start-up VAT on operations expenses and beginning costs. Before you make this decision, it’s important to look at how many expenses and operation costs can be VAT-refunded. If it’s minimal, you may want to wait.

Before taking any further action, carefully assess your client base and cash flow. However, there are very good reasons for Voluntary VAT Registration if you want to grow your business. The key benefits are gaining access to bigger contracts with VAT-registered clients and, in turn, expanding your business.

Need assistance with your VAT Registration at SARS?

Get a FREE Consultation with a trusted VAT Specialist today and see how we can help you!

Get a FREE Consultation

General List of Items That Can Count Towards VAT Refunds

One question our VAT experts often get is, “What are the main expenses or costs that can be deducted from VAT?” Before we explore the list, it is important to know that in order to get a VAT rebate, the cost MUST directly help the business make money.

8 Common Business Expenses Eligible for VAT Deductions

When a business buys office supplies like stationery, printing, and office equipment, they can deduct VAT on these items.
Business operations: Things that are used for running a business, like rent for a building, utilities for the business, and insurance payments for the business, are all VAT-deductible.
Professional services: Legal fees, accounting and financial services, and consulting fees are all examples of professional services that allow you to deduct VAT.
Travel and accommodation: You can subtract VAT on business travel and lodging costs when you go on business trips.
For marketing and advertising, you can deduct the costs of advertising as well as the costs of marketing products and services.
Technology: You can deduct for VAT the cost of computers and software used for business purposes, as well as the costs of building and running a website.
When it comes to cars and transportation, you can deduct VAT on business vehicles (with some exceptions), fuel for business vehicles, and costs for repairs and maintenance.
Expenses for employees: You can subtract VAT on costs for training and development for employees as well as costs for uniforms or safety gear.

What is a VAT refund?

A VAT refund is the amount of VAT that SARS pays to a vendor when:
The total amount of VAT charged to the vendor on buying goods and services (input tax) and on importing goods (which can be deducted) is more than the total amount of VAT charged by the vendor on providing goods or services (output tax) for a calendar year; or
A seller made a mistake and overpaid, which means they paid more VAT than they should have to SARS.

How do I get my VAT back?

When SARS gets a properly filled-out VAT return, they have 21 business days to pay the refund to the vendor if they are entitled to it. This is how long SARS has to pay interest to the seller if the refund isn’t paid by this date. There are a few situations where SARS may not give a return or extend the 21-business day period without interest being paid.
Please keep in mind that SARS can also refuse to give you your return if any of the following happens, as explained here.
Now that you know the pros, cons, and what can be deducted, let’s look at the process of VAT Registration at SARS.

Online VAT Registration Process (via E-filling)

Although it’s still quite a process, SARS has made it easier for small businesses to register for VAT online by streamlining the process.

Here is the step-by-step guide to online VAT Registration at SARS using the eFiling platform:

Create or Access Your eFiling Account

Make an eFiling username or sign in to an existing one.

Go to the SARS Registered Details section

To get to the SARS Registered Details feature on the left side of the Individual portfolio, go to Home and pick it.
Below the Organisations menu tab on the Tax Practitioner and Organisations eFiling portfolio is where you can find the SARS Registered Details tab.

Navigate to 'Maintain SARS Registered Details

On the left side of the screen, choose “Maintain SARS Registered Details.

Confirm Access to Maintain SARS Registered Details

The screen that says “Maintain SARS Registered Details” will show up. Click on “I Agree” to confirm that you are allowed to make changes to the vendor’s listed information.

Go to My Tax Goods, then Revenue, and select VAT

Go to the left menu and choose My tax goods > Revenue. Then, choose VAT.

Add a New VAT Branch Registration

Click “Add new product registration” to add a new or extra VAT branch registration.

Fill out the following in the VAT container

Registered information, if not already filled in
Shopping As the name, if necessary
Date of Liability
Choose the code for your business activity

You can find the codes in the VAT 403 Vendors and Employers Trade Classification Guide.
If there is a Farming Activity Code, choose it.

Keep in mind that you will get the following error message if you choose a different business activity code after getting the containers for diesel concession: Check this box if you get money from farming in addition to your main business. If you choose this option, you will have to fill out the “Farming Activity Code” field.
Choose the right registration choice.
Value of goods that are taxed
Basis for accounting
The tax year

If not already filled in, complete the following fields:
Contact details
Physical address
Postal Address
Bank information

How Long Does the VAT Registration Process Take?

It can take anywhere from 10 days to 2 months to register for VAT at SARS. It depends on whether you already have a trading CIPC-registered business and how long it takes SARS to process your application. To verify information about your company, SARS may contact you for more details or even visit your location. If you work with SARS directly, getting registered for VAT usually takes a month. However, it could take up to two months to register for VAT if you don’t already have a business. This is because you need a registered business before you can register for VAT.

In most cases for VAT registration for small businesses, the SME struggles to provide proof of consistent revenue when applying for Voluntary VAT Registration. SARS is well aware of all the VAT fraud thus you need to ensure your paperwork is 100% accurate.

Simplify Your VAT Registration

Let Company Partners handle the VAT process for you fast, online, and hassle-free. We’ve helped 168 businesses register in just 3 months. From paperwork to compliance, we take care of it all so you can focus on growing your business.

Get a FREE Consultation

Want a faster and easier way to register your company for VAT?

Leave it to Company Partners to get it done Online, Easy and Fast wherever you are in South Africa! Here are some ways we can be of service:
By completing the VAT registration procedure with the assistance of Company Partners, you will be able to meet all of SARS’s requirements. Thanks to Company Partners’ professional assistance, 168 business owners were able to register for VAT quickly and easily in the last 3 months. This success opened their doors to bigger contracts and improved their cash flow in a matter of months.
To avoid any delays, we will help you compile and submit the necessary paperwork at SARS.
To keep you in compliance at all times, we offer a wide range of services, including the completion of VAT returns and assistance in meeting SARS deadlines.

Here are some ways in which we can help you:

Tax Returns: Company Partners can help businesses prepare and file their tax returns. Our team of skilled SAIBA and SAIT-registered accountants guarantees that all relevant information will be reported correctly in line with current tax regulations.
Monthly Accounting Services: Our monthly accounting services will keep your financial records correct and up to date. We offer many important accounting services, such as tracking, bank reconciliations, and making financial statements. This will help you keep an eye on your money and help you make smart business choices.

Get a Tax Clearance Certificate: By law, businesses need to get a Tax Clearance Certificate to show that they have taken care of their tax obligations. We can help you get all the paperwork you need and make sure you follow all the rules set by SARS. We have streamlined the process to get it issued fast so that your business can run smoothly and be eligible for government contracts.
Tax Compliance: SARS actively enforces tax compliance to ensure businesses adhere to VAT regulations. Ignoring VAT registration when required may lead to penalties, audits, and reputational damage. Learn more about SARS compliance here.
Navigating misconceptions surrounding VAT Registration. There are 10 common misconceptions regarding VAT Registration that you may find helpful in making your final decision. Learn more about them here.

What Happens After VAT Registration?

You will be issued a VAT registration number upon completion of VAT registration. This is a crucial number for your company since it enables you to deduct VAT from sales and claim VAT from purchases.
In addition to making sure you’re in compliance with VAT requirements, keeping precise records of your purchases and sales is essential.
Any time there is a change in VAT legislation that can have an impact on your company’s operations, you should be aware of them.

After VAT Registration the following is important:

All taxable sales must be subject to VAT.
Ensure your VAT invoices are compliant with SARS rules.
Submit your VAT return to SARS at least once every two months.
Maintain accurate financial records to facilitate the submission of VAT claims and calculations.

You can better manage these tasks if you work with our monthly accounting services. Accurate VAT calculations, on-time VAT returns, and well-maintained financial records to back up claims are all things they guarantee. By taking this preventative measure, you can rest assured that your company will not only avoid fines but will also maximise any possible VAT refunds.

Final Thoughts

Determining whether VAT registration is worth it for your small business depends on your financial position, growth plans, and client base. If you frequently incur VAT on expenses or seek larger contracts, VAT registration may hold valuable financial benefits.

Ready to unlock financial advantages for your business? Contact Company Partners today for expert VAT registration assistance.

Contact us today!

The post VAT Registration for Small Businesses: Is It Worth It? appeared first on Company Partners.

Benefit	What It Means for Your Business
Claim input VAT	Save money on business expenses
Access bigger clients	Gain access to tender opportunities
Improve credibility	Strengthen brand perception
Possible VAT refunds	Boost cash flow in early growth
Professional bookkeeping	Build a stronger financial foundation

Benefit	Impact on Your Business
Time saved	Focus on clients and growth instead of admin.
Tax efficiency	Proper deductions and structuring mean lower tax bills.
SARS protection	Accountants handle audits, disputes, and submissions.
Compliance peace of mind	Avoid penalties and legal issues, which can take years to resolve with SARS.
Smarter decisions	Reports & forecasts guide growth and funding.
Business growth	Up-to-date books unlock funding, contracts, and tenders.

Approach	DIY (Google & Software)	Traditional Accountant	Company Partners
Cost	Low upfront, but high risk of penalties	Often very expensive	Affordable monthly packages
Time	Owner spends 10+ hrs/month	Accountant-driven	Done-for-you
Compliance	Easy to miss SARS deadlines	Usually compliant	Always compliant, with reminders
Growth support	Limited (no forecasting)	Sometimes included	Forecasting + compliance + growth focus
Accessibility	Online tools only	Often office-based	Digital, national reach, quick turnaround

1^stProvisional tax return	2025/08/30	2024/08/31
2^ndProvisional tax return	2026/02/28	2025/02/29
Top-up payment (Optional)	2026/09/30	2025/09/28
Income tax return	2027/01/23	2026/01/23

Feature	DIY Accounting	Company Partners
Cost	Lower upfront, but high risk	Affordable monthly plans
Tax Filing	Manually researched	Done by SARS-registered professionals
Bookkeeping	Time-consuming and complex	Automated and accurate
Financial Reports	Often skipped	Professionally prepared
VAT Compliance	Easy to miss deadlines and can be confusing	Regular VAT submissions and alerts
Support	Self-reliant	Access to expert help anytime

Tax & Accounting Archives - Company Partners

IRP6 Company Tax Return: Why Accuracy Matters in 2026

Table of Contents

IRP6 Company Tax Return: Why Accuracy Matters in 2026

February IRP6: The Moment SARS Stops Guessing

Not Sure If Your IRP6Estimate Is Accurate?

Why Under-Estimation Penalties “Explode” in February

SARS Assumes Your Books Are Mostly Done (Even If They Aren’t)

Get Your February IRP6Reviewed by a Tax Expert

Interest Relief: Why It Rarely Applies to February IRP6

Once interest is charged:

Why February IRP6 Errors Trigger Future Audits

Why “We’ll Fix It at IT14” No Longer Works

By the time ITR14 is submitted:

Ensure Your IRP6 SubmissionIs SARS-Compliant

The Smarter Approach to the 27 February IRP6 Deadline

How Company Partners Helps You Get the February IRP6 Right

Final Thoughts: February Is Where Good Businesses Get Tripped Up

Contact Company Partners today to help you submit correctly, confidently, and compliantly before SARS decides for you.

Preparing Your ITR14 Company Tax Return Early Can Save You Thousands

Table of Contents

Preparing Your ITR14 Company Tax Return Early Can Save You Thousands

What is an ITR14?

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

Ensure Your ITR14 Is Compliant

Understanding the Feb 2026 ITR14 Tax Return Deadline

The Consequences of Late or Non-Submission

Daily Administrative Penalties

Increased Audit Risk

SARS’ Access to Third-Party Data

Blocked Business Opportunities

Why Up-to-Date Monthly Accounting Is Essential

Prepare Your ITR14 Correctly

What You Need to Submit an ITR14

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

Log Into SARS eFiling

Ensure Your Accounting Is Finalised

Cenerate and Complete the ITR14

Upload Supporting Documents

Review for Accuracy

Submit and Track Status

How Company Partners Can Assist

Don’t Wait, Secure Your Compliance Now

Take Control of Your ITR14

Voluntary VAT Registration: Who Should Consider It and Why

Table of Contents

Voluntary VAT Registration: Who Should Consider It and Why

VAT Registration vs Voluntary VAT Registration: What’s the Difference?

Who Should Consider Voluntary VAT Registration?

Benefits of Voluntary VAT Registration

Disadvantages of VAT Registration On Your Own

How to Register for VAT with SARS Step-by-Step

Check that you qualify and gather your documents

Register for SARS eFiling and update your Registered Representative

Start the VAT registration on eFiling (RAV01 / VAT101)

Submit the application and upload supporting documents

Wait for SARS verification and your VAT Notice of Registration

How Company Partners Supports Your VAT Journey

Fast VAT Registration

SARS Representative Setup

Monthly VAT Submissions & Accounting

Tax Returns & Ongoing Compliance

FAQs Based on Real SME Questions

Final Word

Make voluntary VAT registration work for your business with step-by-step support from Company Partners.

What do Accounting Services offer SMEs in South Africa?

Table of Contents

What do Accounting Services offer SMEs in South Africa?

Make Your Finances Work Smarter For You

The Core Role: What Does a Small Business Accountant Do?

Why DIY Accounting Isn’t Enough

When Should You Hire an Accountant?

Simplify Accounting. Maximise Results. Start Now.

The Benefits of Having an Accountant in South Africa

Common Questions Entrepreneurs Ask

Accountants as Growth Partners - Not Just Number-Crunchers

Stay Compliant, Stay Confident, Work Smarter

DIY vs Accountant vs Company Partners

Is It Time to Get an Accountant?

Why Company Partners is the Smart Choice

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