Practical accounting insight: Companies with a June financial year-end should confirm their 2026 ITR14 filing position now rather than waiting for December. SARS’s October SMME guidance notes that some companies with a June financial year-end may need to submit their Company Income Tax Return by 31 December 2026. The exact obligation depends on the company’s financial year-end and SARS filing requirements.

For companies, the official 2026 notice generally provides for income tax returns to be submitted within 12 months after the end of the financial year. The notice also confirms that company returns must be submitted electronically through SARS eFiling. Businesses should therefore verify the deadline applicable to their own accounting period before relying on a general calendar reminder. Read the SARS notice on 2026 return submissions.

What companies should prepare

An ITR14 should be supported by reliable accounting records and a clear tax computation. Finance teams should begin by closing the relevant financial year in the accounting system and ensuring that the trial balance agrees to the underlying ledgers.

  • Reconcile bank accounts, debtors, creditors and loan balances.
  • Review fixed-asset additions, disposals, depreciation and supporting invoices.
  • Check shareholder, director and related-party balances.
  • Separate accounting adjustments from tax adjustments.
  • Confirm that prior-year assessments, objections, payments and outstanding SARS correspondence are on file.
  • Investigate unusual movements in revenue, gross margins, expenses and provisions before the return is prepared.

This preparation is not only about meeting a deadline. A clean year-end file gives the company a stronger basis for reviewing taxable income, identifying potential supporting-document gaps and responding to a SARS verification or audit request.

Who is affected?

The immediate focus is on companies whose financial year ended in June 2026 and whose filing deadline falls on or around 31 December 2026. Other companies may have different deadlines because the company return period is linked to the financial year-end. A company with a non-standard year-end should not assume that the June timetable applies.

SARS’s October 2026 SMME communication also reminds businesses to confirm the dates that apply to them rather than treating the published checklist as a substitute for checking their own tax profile. See the SARS SMME compliance reminders.

Practical next steps before December

Assign responsibility for the ITR14 file, create a list of missing schedules and set an internal completion date earlier than the SARS deadline. Management should review significant tax judgements, including deductions, allowances, provisions and related-party transactions, before final submission.

Businesses that use a tax practitioner should provide the completed accounting records and supporting schedules early enough for review. SARS states that taxpayers remain responsible for information submitted on their behalf, so the company should review the final return and retain evidence supporting material figures.

For assistance with year-end accounting records, tax preparation and compliance planning, businesses can explore YFP’s accounting and advisory services.