Completing your IT14SD? Make sure you have these five documents on hand

Simangele Mzizi, Fsp Business, 21 Oct. 2014

Tags: it14sd form, supplementary declaration form, sars

Most company owners panic when SARS asks them to complete the Supplementary
Declaration (IT14SD form) in order to reconcile annual financial statements and to verify eFiling submissions for the company.

Most of the panic is caused by the fact that these company owners don’t know where to start. For example, they don’t know which documents they need to complete the IT14SD form.

Don’t panic like these employers.

Take a look at the five documents you must have on hand when completing your IT14SD.

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SARS has confirmed that it will be compulsory for all companies to complete their IT14SD forms very soon.

So why not get your copy of How to successfully complete you IT14SD form now and start preparing in advance so you’re not caught off guard.


Here are the five documents you need to have on hand to fill out your IT14SD form

The Practical Tax Loose Leaf Service says you must have the following documentation available to complete your IT14SD form:
  1. Your IT14 (company Income Tax) return showing income for your company in the year of assessment;
  1. Your trial balance;
  1. Signed financial statements;
  1. General ledger; and
  1. Employer reconciliation declaration (the EMP201 and EMP501 forms).
It’s also a good idea to have SARS’ employee tax codes available. You can find these in your copy of the Practical Tax Loose Leaf Service.
Remember, you don’t need to submit the documents, SARS just wants to check your calculations.
Be sure to check out this article. It contains five sections you must complete when filling in your IT14SD form.
Having these five documents on hand will make it easier to complete your IT14SD form.
Recommended Product: How to successfully complete your IT14SD form e-book. The e-book will not only help you understand the sections you must fill in, but will give you the step-by-step process for each section taking the headaches and stress out of completing the form.
Alternatively, if you have questions about the IT14SD form, ask our experts at the Accounting & Tax Club.



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