The process for using Taxi is straightforward and detailed below:
- Your client creates an account with Taxi. No financial disclosures or credit checks are required, apart from a standard AML check.
- Your client pays their provisional tax through Taxi. These payments are held on their behalf, by Public Trust, at Inland Revenue.
- Taxi allows these payments to be used as security to access affordable funding and meet their tax obligations at the same time.
- When your client requires funding, they can access an amount equal to 90% of the provisional tax paid through Taxi or Tax Traders in the last 12 months.
- Access is straightforward and funds are in their bank account within 3 working days, without further application or documentation. Repayment is flexible and works with your client’s business.
- Following your client’s terminal tax date, we transfer their tax payments to IRD, within the legislative time frame.