How to delay an upcoming payment
If you know in advance of a provisional date that your client is unable to make a deposit or full payment of the tax amount due, or they wish to retain cash in their business, you can set up a finance arrangement through Tax Traders to pay the provisional tax. When you put something in place in advance, Tax Traders is able to offer you a significantly lower interest rate so it is well worth talking to us if your client is looking for some flexibility. This option is particularly helpful in industries where income is seasonal or for businesses that are growing and therefore need to reinvest, allowing cashflow to be managed more effectively throughout the tax year.
- Eliminate late payment penalties and use of money interest charges.
- Retain working capital in your business.
- Less expensive than buying tax.
- Easy to set up – no security or financial disclosures are required.
- Guaranteed availability of tax credits.
- Only pay the principal amount that you need, even if this is less than you originally booked.
- Pay the amount at maturity or by instalment.
- No establishment fees or charges.
- All finance arrangements must be completed and transferred to IRD within 75 days of your client’s terminal tax date.
- Income tax is the only tax type that can be delayed in this manner.
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