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Tax Pooling Solutions can save you use of money interest (UOMI) and late payment penalties charged by Inland Revenue on underpayments of provisional tax and increase returns on overpayments of provisional tax.
We assist businesses with variable cashflow get access to additional funding arrangements. Tax Pooling Solutions can also finance your provisional tax payments at very competitive interest rates with no security or guarantees required.
Save up to 30% on use of money interest charges with IRD. Buying tax is simple and easy with Tax Pooling Solutions. Purchasing tax puts a stop to the use of money interest and helps get the correct amount of tax on the right date. Tax purchases can be completed for current and open tax years and need to be transferred to your IRD account within 75 days of terminal tax due date
Sell overpaid tax with Tax Pooling Solutions allowing you to get better terms than IRD in most cases. Excess tax in the pool is easy to get refunded, subject to providing information to meet our Anti-Money Laundering obligations. No need to wait until the returns are finalised.
If you are unsure about your liability, use the tax pool to deposit your provisional tax payments. Deposit tax in the pool to satisfy future tax obligations.
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An introduction to easy tax tool
With EasyTax you have full control on your provisional tax repayments, pay what you can when you can. Have full transparency on total interest costs with an EasyTax arrangement that suits you. (Maximum term available is for up to 75 days of terminal tax due)
Learn more on how to set up an EasyTax arrangement with tax pooling solutions.
Tax pooling assists businesses with variable cash flow to get access and save interest on underpaid provisional tax, end-of-year tax and from reassessments of tax.
Interest rates are lower than borrowing from institutions and don't require the high level of security that many do. It's all about making your business run smoother.
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In most cases, the interest rate charged by TPS is significantly lower than that charged under business banking facilities.
Provides you with an alternative means of financing.
Is your cashflow lumpy or seasonal? TPS lets you settle your tax when you want. If you don’t quite get the timing right, roll the finance – only paying interest to the next maturity.
If you finance more than you need then we sell the excess and transfer a cash interest return to you without needing to settle the excess principal amount.
Public Trust protects your interests by holding all payments and tax deposits and authorising all transfers.