Tax pooling and finance

Helping you manage your provisional tax obligations

PwC tax pooling solutions can save you use of money interest (UOMI) charged by Inland Revenue on underpayments of provisional tax and increase returns on overpayments of provisional tax. To assist businesses with variable cash flow, or get access to additional funding arrangements, PwC tax pooling solutions can also finance your provisional tax payments at very competitive rates with no security or guarantees required.

Here's how PwC tax pooling solutions is used by our clients and clients of other firms

Estimating your provisional tax can be difficult: pay too little and you will be hit with UOMI and other penalties; pay too much and valuable working capital is locked up at the IRD earning a minimal return.

The solution is to deposit your provisional tax payments into the PwC tax pool held at Inland Revenue to reduce your exposure to UOMI and increase your return on overpayments.

  • Underpaid?
    Save up to 30% on your UOMI bill by buying the tax you need from the PwC tax pool instead of paying Inland Revenue UOMI.
  • Overpaid?
    Increase your return on overpayments by selling excess tax for up to double what Inland Revenue will pay you in UOMI.
  • Cashflow tight?
    Treat your tax payments as a pre-approved overdraft facility - the funds can be withdrawn and financed at competitive rates at any time.
  • Tax on the right dates?
    Swap excess tax payments for tax on a later or earlier date you require and maximise your return.
  • Estimated correctly?
    PwC tax pooling solutions will transfer your tax payments from the pool to your taxpayer account at Inland Revenue at no charge.

An additional benefit of using PwC tax pooling solutions is that if you have an amount of income tax to pay for a prior year due to a reassessment by Inland Revenue, you can purchase back dated tax from PwC tax pooling solutions at interest rates that are up to 30% cheaper than Inland Revenue's UOMI rate. By purchasing back dated tax on the correct payment date, Inland Revenue will not charge you UOMI. This can be used for most tax types, not just income tax.

Depositing into the tax pool is free and you'll never pay more than if you had paid directly to the Inland Revenue. Don't pass up this opportunity to improve your bottom line.

Why PwC tax pooling solutions?

  • We offer competitive prices for tax pooling and financing services.
  • Our friendly team provides a solution focused and responsive service and are backed by New Zealand's leading professional tax advisers.
  • We are well placed to sell your overpaid tax due to PwC's large client base through our seven offices across New Zealand.
  • Unlike some of our competitors, we have no minimum deposit, purchase or finance amount.
  • Our online system has a reporting system that exports to Microsoft Excel.
  • Payments into the PwC tax pool can be refunded at any time – no need to wait until your tax return is filed.
  • PwC's trustee is Public Trust which is owned by the New Zealand Government so you can be sure that tax payments are handled by a secure and trustworthy entity.
  • PwC's structure, operations and business systems have been reviewed and approved by Inland Revenue.
  • Free registration and no membership fees.

How do you use PwC tax pooling solutions?

Or you can contact us to find out more about how PwC tax pooling solutions can help you:

Email taxpooling@nz.pwc.com
Phone +64 9 948 8833

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Matt Rama

Executive Director, Auckland, PwC New Zealand

+64 21 984 929

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