Submitting a tax return for a new small business?

By Marc Sevitz · Updated

I registered my business last year and started trading officially as a (Pty) Ltd in October 2013. I registered with SARS and submit my EMP201 via e filing on the 7th of each month. I have been advised that as I have not operated for a full 12 months, I am not required to submit a tax return at the end of February 2014? My registered financial year is the end of February. Is this correct and if so, will I submit my first tax return at the end of February 2015? If this is the case then my return will be for an extended period to include these past 5 months?

TaxTim Marc

TaxTim Marc said:
24 February 2014 at 11:55

Your final return for companies - ITR14 - is only due 1 year after year end so that would then be February 2015. You would only submit the return showing details for the period October 2013 - February 2014.