Overdue tax

Key information

Only income tax can be settled in this manner for an initial assessment.
Your client has up to 75 days past their terminal tax date to pay the additional income tax they owe via Tax Traders.
Tax Traders can help with other tax types if your client has a reassessment from Inland Revenue. See audits and voluntary disclosures for more information as different criteria applies.

How it works

Tax Traders has tax available in our account at Inland Revenue going back several years. This tax has been paid by different taxpayers at different tax dates and their payments were date stamped at the time they were made.

Once these taxpayers have finalised their tax return and settled their residual income tax, they are able to earn a better interest return by selling any overpaid tax they have to a taxpayer who has underpaid.

Your client would be ‘buying’ this surplus tax and applying it against their own liability.

1
Your client pays the tax amount, plus our interest cost to Tax Traders.
2
Tax Traders arranges for the date-stamped tax your client requires to be transferred to their Inland Revenue account.
3
Inland Revenue treats it as if your client has paid on time once it processes this transfer, removing interest and late payment penalties showing on your client’s account.

Why Tax Traders

Reduce your client’s interest cost and eliminate late payment penalties
No minimum amount to buy
Immediate confirmation of requests
Transactions processed weekly, so you and your client don’t experience a long wait.
World-class service
Training and support

Overdue tax

If your client has missed a payment or their tax has been miscalculated, Tax Traders provides a way to reduce the interest they need to pay and remove any late payment penalties.

Key information

How it works

Why Tax Traders

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