Tax pooling solutions

Did you miss or underpay a tax payment?

Buy missed or underpaid tax payments with Tax Pooling Solutions. If you have missed or underpaid a tax payment you can use Tax Pooling Solutions to buy this back dated tax. Purchasing tax from the tax pool will help save up to 30% use of money interest and 100% on late payment penalties. Purchased tax needs to be transferred to IRD within 75 days of the terminal tax due date.

Only income tax can be purchased to satisfy a tax liability for an initial assessment (i.e. a current year). Tax can be purchased for other tax types only if it is to satisfy a reassessment where an original return was filed and paid (see below under reassessments). 

Benefits:

• Save approximately 30% over IRD use-of-money interest
• No minimum purchase amount
• Eliminate late payment penalties and use-of-money interest charges
• Flexible payment options to suit you or your client’s cash flow and business priorities
• Transactions processed regularly, so you don’t experience a long wait

IRD reassessments and voluntary disclosures

Inland Revenue allows taxpayers to use a tax pool to satisfy tax payable (Income Tax, GST, FBT, RWT, PAYE) from audits and voluntary disclosures within certain criteria. Through the pool, a taxpayer can purchase historical tax payments of unpaid tax from prior tax periods – saving more than 30% over the cost of use-of-money interest incurred if settled directly with IRD.

You can settle reassessments of any tax type. When you know the result of a reassessment you can choose to buy back dated tax to cover the increased reassessment liability and reduce your interest costs. You have up to 60 days from the date the reassessment is issued to settle any reassessment using tax pooling.

• Save more than 30% of the use-of-money interest cost compared to settling the liability directly with IRD
• Can be a helpful cost or risk mitigation strategy as you work through the audit process

• Contact us to learn more

IRD payment plans

Are you currently on a plan with the IRD ?

IRD payment plans usually continue to accrue use of money interest. Use Tax Pooling Solutions to finance future provisional tax instalments and use available cash to reduce the IRD payment arrangement - saving overall interest costs.

Get in touch with one of our team to discuss your options today.

EasyTax Purchase

Income tax payments are now made easier, with EasyTax you have full control on your income tax repayments. EasyTax provides you the flexibility to pay your income tax when it suits you, Pay what you can, when you can.

Setup EasyTax arrangement with PwC Tax Pooling Solutions in three simple steps

1. Select Tax Amount
2. Choose your start and end date
3. Submit request

EasyTax arrangements are fully transparent with full visibility on the total interest costs before you set up an arrangement. Giving you a fair and transparent way of keeping on top of your income tax obligations.

Now you don't have to rely on fixed payment dates for provisional tax dates, with EasyTax you have full control on your provisional tax repayments. Quick and easy repayment plans that suit your cash flow.