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Two tips to correctly complete you IT14SD

by , 21 October 2014
If you submit your company's tax return and SARS finds issues on it, it will ask you to complete a IT14SD (The Supplementary Declaration) form.

This form helps it verify any information you might have entered incorrectly the first time round.

But if you get the information on your IT14SD wrong, it could cause even more problems and lead to a full SARS audit.

We can help you prevent this. By using these two tips, you can ensure your IT14SD is 100% correct when you submit it to SARS...

 

Complete your IT14SD target="_blank" class="contextual_links">IT14SD correctly by following these two tips

 
Tip 1: Have these six documents on hand before you even start filling in the form
 
1. Your IT14 (company income tax) return showing income for your company for the year of assessment;
2. Your trial balance;
3. Signed financial statements;
4. General ledger; 
5. Employer reconciliation declaration (the EMP201 and EMP501 forms); and
6. A copy of the SARS employee tax codes. For all the employee tax codes, check out How to Successfully Complete Your IT14SD Form.
 
These documents will ensure you enter all the correct information.
 
Here's the second tip.
 
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Tip 2: Double check the information on the form before you sign it
 
The IT14SD is a legally binding declaration. This means SARS will take whatever you write on the form as the honest, accurate truth about your company.
 
Don't sign it if you've any doubts about what's on the form. Rather double, even triple check, all the information first. SARS will have good reason to penalise and even prosecute you if you misrepresent anything on the form.
 
Once you sign and submit it to SARS, there's no going back. So make sure the information you put on the form is correct.
 
Follow these two tips and you can be sure your IT14SD will form is 100% correct.
 

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