How to purchase a missed payment
If your client hasn’t paid their provisional tax by the due date, you can purchase tax from Tax Traders’ tax pool. Buying tax from the pool will save your client money. It works out to be approximately 35% cheaper than settling a late payment with Inland Revenue (IRD) directly.
- Save approximately 35% over IRD use-of-money interest
- No minimum purchase amount
- Immediate confirmation of purchase requests
- Eliminate late payment penalties and use-of-money interest charges
- Flexible payment options to suit your client’s cashflow and business priorities
- Transactions processed weekly, so you don’t experience a long wait
- Tax purchases must be completed and transferred to IR within 75 days of your client’s terminal tax date.
- Income tax is the only tax type that can be purchased for an initial assessment.
- Other tax types can be purchased if your client has a reassessment from IRD and the initial return was paid and filed: GST, DWT, RWT, NRWT, PAYE, FBT, ESCT, RSCT. Purchases and transfers must be completed within 60 days of the date of issue of the reassessment. Our online tools will guide you through this.
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