Provisional Tax Payment Options
We are aware that a number of our clients are facing a problem with paying their Provisional Tax due today.
We have looked at the options available to us to assist you with this problem. The Inland Revenue has reached out to all taxpayers and is trying to offer ways to assist us through this difficult time.
Please consider the options introduced below and contact us to make to necessary arrangements.
Keep well. We are here to assist you.
The Strawbridge Team
Provisional Tax Payments Due 7 May 2020 – Assistance Available
Are you having trouble making the Provisional Tax payment due today? The current instalment of Provisional Tax has fallen due at a time when many businesses have not traded for several weeks and their financial resources are stressed. The good news is you do have options:
- Inland Revenue Payment Arrangement
- Tax Pooling Arrangements
- Inland Revenue Hardship Application for Remission
We are here to assist you and explain the options available to you if you are finding it difficult or impossible to pay Provisional Tax. Just give us a call and we discuss the options and can help you to come up with a plan that works for you and your cashflow requirements.
We understand that while the Inland Revenue is offering attractive terms for making Payment Arrangement, these do not necessarily work for everyone. We have made an arrangement with a Tax Pooling Agency and so can now offer you an additional tool to assist you to meet your tax obligations through this difficult time. This provides you with additional options which could be a mixture of any of the methods mentioned above:
- A Payment Arrangement with Inland Revenue to defer payments,
- Tax Pooling to pay Provisional Tax now and repay the Tax Pooling Agency at a later date, and
- If your circumstances mean that paying tax now will lead to financial “hardship”, requesting remission of the taxes payable.
If you are finding it difficult or impossible to pay your Provisional Tax now, please give us a call and we can explain these options and discuss how they can apply to your situation.
We are here to help.