Running a small business in South Africa is an adventure filled with passion, innovation, and hard work. But let's be honest—managing the numbers can often feel more like a challenge than a triumph. If you're feeling overwhelmed by financial jargon and the looming pressure of SARS compliance, you're not alone. This guide is here to change that. We will break down small business accounting into simple, actionable steps, helping you manage your finances with confidence and focus on what you do best: growing your business.
What is the difference between a bookkeeper and an accountant?
A bookkeeper is responsible for recording daily financial transactions, such as sales, purchases, and payments. An accountant takes that data, analyses it, prepares financial statements, handles tax compliance, and provides strategic financial advice to help you grow your business.
As a small business owner, you wear many hats - visionary, salesperson, marketer, and manager. But when the role of accountant is added to the list, it often comes at the expense of what truly drives your business forward. Discover how our expert accounting services can simplify your finances, ensure SARS compliance, and free you up to focus on growing your business.
Bookkeeping is the process of recording the financial transactions of your business - every sale, every purchase, every payment, and every bill. Good bookkeeping helps you:
Learn everything you need to know about SARS 2025 tax season; from auto-assessments and self‑filing details to deadlines, refund tips, and frequently asked questions. Get your SARS tax returns filed accurately and on time.
What’s New in the 2025 SARS Tax Season?
Season Opening: SARS officially opened the 2025 tax season at the start of July 2025. Auto‑Assessments: Many taxpayers received auto‑assessments in their eFiling profiles – saving time on manual filing. Self‑Filing Launch: For those who didn’t get auto‑assessed, SARS enabled self‑filing from 21 July 2025.
Whether you’re auto‑assessed or preparing to self-file, it’s essential to understand the process, key dates, and how to maximise your refund.
Auto‑Assessments Explained | What Is an Auto‑Assessment?
An auto‑assessment is SARS’s preliminary calculation of your taxable income and provisional refund, based on data already on file (e.g., IRP5 certificates, UIF, medical tax credits).
Who Qualifies?
Salaried employees with straightforward tax affairs.
Taxpayers whose employers submitted complete IRP5/IT3(a) certificates on time.
Why It Matters:
Time‑saving: No need to compile and upload supporting documents unless SARS flags discrepancies.
Quick Refunds: If your auto‑assessment shows you’re due a refund, you could receive it faster – often within 16 business days.
How to Self‑File Your 2025 Tax Return
If you didn’t receive an auto‑assessment, follow these steps to file:
1. Register or Log In to eFiling:
– Visit the SARS eFiling portal.
– Use your existing username and password or register as a new user.
2. Gather Your Documents:
– IRP5/IT3(a) Certificates: From all employers.
– Medical Tax Credits: Medical aid certificates.
– Retirement Annuities: Proof of contributions.
– Investment Income Statements: Dividends, interest certificates.
– Business or Rental Income: Statements and Schedules.
– Follow the guided sections: Personal Details, Income, Deductions, Assessments.
4. Review & Submit:
– Double‑check entries against your source documents.
– SARS will flag missing or inconsistent fields.
– Submit before the deadline to avoid penalties.
Key Deadlines & Penalties
Filing Type
Submission Window
Late‑Filing Penalty
eFiling (non‑provisional)
1 July – 23 November 2025
R250 – R16,000 (depending on delay)
Non‑eFiling (paper)
1 July – 31 October 2025
Higher fees & longer processing times
Tip: Set calendar reminders well ahead of 23 November 2025 to ensure your SARS tax returns are submitted on time.
Maximising Your SARS Tax Refund
Declare All Qualifying Deductions: Retirement annuities, travel expenses (if you’re an employer‑reimbursed contractor), and medical expenses (above the medical scheme fees tax credit).
Verify Tax Credits: Ensure your employer has correctly applied unemployment insurance (UIF) and skills development levies.
Keep Accurate Records: Upload digital copies of all certificates and supporting documents directly in eFiling.
Top FAQs for 2025 Tax Season
1. Why didn’t I get an auto‑assessment? You may have complex income sources (e.g., freelance, rental, capital gains) or missing employer certificates on SARS systems.
2. Can I still file after 23 November 2025? Yes, but you’ll face late‑filing penalties and your refund will be delayed until SARS processes older returns.
3. How long until I receive my refund? Once SARS approves your assessment, refunds are typically paid within 16 business days for eFiling submissions.
4. What if SARS queries my return? Respond promptly via your eFiling inbox, providing any requested supporting documentation to resolve issues quickly.
Final Checklist Before Hitting “Submit”
All personal and bank details are up to date.
Source documents match the figures entered.
You’ve claimed every eligible deduction and tax credit.
Return is submitted before the deadline.
Filing your SARS tax returns doesn’t have to be stressful. Whether auto‑assessed or self‑filing, following these steps and keeping organised records will help ensure a seamless 2025 tax season, and maximise your refund!
Learn everything you need to know about SARS 2025 tax season; from auto-assessments and self‑filing details to deadlines, refund tips, and frequently asked questions. Get your SARS tax returns filed accurately and on time.
Taxation forms the backbone of public administration and infrastructure funding in South Africa. For every individual, understanding personal income tax is not merely academic - it’s essential for sound financial planning and compliance. In this article, TickBirds Certified Business Accountants breaks down the concept of personal income tax, explains why it is collected, details what the government does with the revenue, and offers practical tools to leverage tax credits, reduce liability, and even secure a refund from SARS.
Capital Gains Tax (CGT) is an integral component of South Africa’s taxation system, affecting the financial outcomes of disposing of assets. At its core, CGT is the tax levied on the profit - or “capital gain” - realized when you sell, donate, or otherwise dispose of an asset. This tax is calculated as the difference between the asset’s base cost (what you paid or its market value on acquisition) and the proceeds received at disposal. The rules governing CGT are set out in the Income Tax Act No. 58 of 1962 (as amended) and administered by the South African Revenue Service (SARS).
Insights by TickBirds Certified Business Accountants
Budgeting is not merely about tracking expenses—it’s a cornerstone for financial stability and growth. In today’s dynamic economic landscape, an effective budget is the strategic blueprint that guides businesses and individuals alike towards sound decision making and optimal resource allocation.
On 12th March 2025, South Africa’s Finance Minister delivered a ground breaking budget speech that has reshaped the fiscal landscape. For businesses, this national budget is more than just a financial statement - it's a roadmap full of opportunities to optimize tax strategies, streamline finances, and strengthen overall competitiveness.
