We’re proud to be the exclusive tax pooling Business Partner to CA ANZ

Reduce IRD interest on a reassessment
If you have a reassessment resulting from an audit or voluntary disclosure, tax pooling can help.

How to purchase tax credits to meet IRD reassessments

IRD allows taxpayers to use a tax pool to address audits and voluntary disclosures within certain criteria. Through the pool, a taxpayer can purchase historical tax payments that another taxpayer has made but doesn’t need – saving more than 30% over the cost of use-of-money interest incurred if settled directly with IRD.

Do it all online in few minutes:
  • Talk to us
  • If you’re an individual taxpayer, we recommend you ask your Accountant to contact Tax Traders so we can get the best outcome for you.

    How does it work?

    Tax in Tax Traders’ pool covers liabilities from 2006 onwards and can be used for the following tax types: GST / INC* / FBT / PAYE / RWT* / NRWT / ESCT/ RSCT.

    *Inland Revenue has discretion to consider reassessments here, even if a return has not previously been filed.

    Tax Traders works with you to identify the best strategy to help minimise risk and exposure. Using existing buffer payments first isn’t always the most beneficial solution. We consider the optimal application of existing payments, taking into account:

    • the timing of existing payments at Inland Revenue (IRD) vs the terminal tax date;
    • the size of payments vs accrued interest;
    • and tax pool credits available to augment existing payments.

    If you are under audit or contemplating a voluntary disclosure contact us for a no obligation quote or to discuss strategies.

    Benefits

    • Save more than 30% over the cost of use-of-money interest if the settlement was made directly to IRD.
    • Can be a helpful cost-mitigation strategy as you work through the audit process.

    Criteria

    • With the exception of Income Tax and RWT, you must have previously filed a return for the tax type and period that is the subject of the reassessment, even it if was a nil return.
    • If it is for Income Tax or RWT, IRD has a discretion to allow use of tax pooling, even if no previous return has been filed. You should seek leave of IRD early in the process. Tax Traders can assist with this – please contact us
    • Sometimes it is beneficial to write into settlement deeds that use of tax pooling as part of the settlement is agreed by IRD. Tax Traders can assist with drafting this language for you.

    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

    Do it all online in few minutes

    Get started Talk to us

    If you’re an individual taxpayer, we recommend you ask your Accountant to contact Tax Traders so we can get the best outcome for you.