Finalise the tax year using our Residual Income Tax (RIT) tool
By using our RIT tool – the most advanced tool on the market – you can optimise your client's tax position in minutes. You no longer have to figure out how much tax is needed at each date; the online calculator will do it all for you.
Plus, with Inland Revenue data connectivity, you'll save even more time. Automatically optimise your client's RIT position (including payment options) based on data in their myIR account.
- Ensures amounts transferred to IR are the right amount and at the right date - we stand behind our calculators.
- Prevents use-of-money interest charges and late payment penalties being applied.
- Completes swaps automatically online – quickly, efficiently and accurately.
- All debit and credit interest is removed, leaving you with a single easy payment.
- When swapping a deposit, you are selling the surplus deposit tax credits and purchasing tax credits at the correct date. The swapped funds become purchased funds as a result and can only be used to satisfy income tax obligations for current periods.
- Purchased tax credits must be completed and transferred to IR within 75 days of your client’s terminal tax date.
Greater protection with Tax Traders
- 100% IRD approved
- Public Trust holds and approves all payments and transactions
- Independently audited
- Money back guarantee if Inland Revenue decline your request