If you run your own small business or are self-employed, keeping track of when your taxes are due can be a bit of a headache. However, proper filing of your returns is a legal requirement and late submissions can lead to fines.
We’ve compiled a useful tax calendar to help you keep track of important submissions dates which you can also download as a PDF.
Provisional and assessed tax
Freelancers, self-employed individuals and anyone who earns an income outside of a normal salary are required to pay provisional tax.
Two payments are required, with tax paid upfront based on your projected earnings. You can also make a voluntary third payment if the amount paid the previous year was less than the payable amount, given what you actually ended up earning.
|
Provisional and assessed tax payments |
Submission deadlines |
|---|---|
|
First payment |
Before 31 August |
|
Second payment |
Before 28 February |
|
Voluntary third payment |
Before 30 September |
|
Annual tax return |
Before 31 January the following year |
Business tax
Businesses are required to submit a number of forms for VAT and employee tax certificates.
|
Business tax payments |
Submission deadlines |
|---|---|
|
VAT |
Manual: by the 25th of each month |
|
Employee tax certificates |
After 1 April |
|
Payment declaration (for businesses that pay PAYE, SDL, UIF and/or receive ETI) |
7th day of the following month or the Friday before this if the 7th falls on a weekend or public holiday |
|
Employer reconciliation declaration (annual) for the full year 1 March to 28/29 February |
Between 1 April and 31 May |
|
Tax certificate cancellation declaration (annual) for the full year 1 March to 28/29 February |
By 31 May |
|
First payment of corporate income tax |
Within six months from the beginning of the year of assessment |
|
First submission of payment advice for turnover tax with first payment |
The last business day of August |
|
Employer reconciliation declaration (interim) for period 1 March to 31 August |
Between 1 September and 31 October |
|
Tax certificate cancellation declaration (interim) for period 1 March to 31 August |
By 31 October |
|
Second submission of payment advice for turnover tax with second payment |
The last business day of February |
|
Second payment of corporate income tax |
Before the last day of the year of assessment |
|
Turnover tax return |
After the end of the tax year |
|
Final payment of turnover tax |
After the annual Turnover Tax Return has been submitted and processed |
|
Third payment of corporate income tax |
Seven months after the year of assessment for taxpayers with February year-end |
|
Return of income |
Within 12 months from company’s financial year end |
The Workspace
Paying taxes is unavoidable, but there are other ways to reduce business costs and avoid stress!
At The Workspace, we offer affordable, fully serviced offices and coworking, and all our members have access to meeting rooms, boardrooms and a range of onsite business services.
For more information or to book a tour of one of our branches, call us on 0861 250 259 or contact us online.
