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Can’t pay tax? Options are available 19 Feb 2014

Some people who can’t pay their tax let the problem fester. Our advice: Don’t!

We can help you to do the following:

  • Make a sensible, manageable arrangement with IRD; one you should be able to maintain. This will stop penalties accumulating.    
  • Buy someone else’s over paid tax and so reduce penalties and interest charges.    
  • Budget your personal expenses to provide funds to catch up. 
  • If you’re in deep trouble, persuade IRD you are a suitable candidate to have some of the tax written off.

If you ignore the problem:

  • Penalties compound while you sleep.
  • High interest charges do the same.
  • You get further and further behind.

Getting behind with your tax is a recipe for a disaster. Don’t let this happen. 

It’s usually very light in your  first year in business.  Then there’s a catch-up. You might suddenly be horrified by the amount of tax you have to pay.  Plan for this.

 

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Contact info

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111 Customhouse Quay
Wellington

T: 04 499 3903
F: 04 499 3913
E: info@pgpaccounting.co.nz