How to finance tax

Access the taxpayers account

If you are wanting to finance a tax purchase for a client, the first step is to access the account for the taxpayer you are wanting to purchase tax for. This can be done within the My taxpayers section as below, by clicking on the IRD number or Taxpayer name:

Create a quote

To finance the tax, you can select either the Delay an upcoming payment box or select Manage tax > Finance. Both options will get you to the same section within Tax Traders.

or

Select your tax period

Select each option within the Tax period/tax year section. Note that through the finance calculator, you will only be able to select upcoming tax dates. 

Each option will impact the way our finance calculator calculates the potential options within the subsequent steps of purchasing the tax.

💡TIP: if wanting to send tax to an associated taxpayer, check Transfer to IRD when order is complete to choose the correct taxpayer for the purchase to be sent to.

Interest upfront

The finance calculator by default utilises the Interest upfront option within the Tax Traders platform. This will always be the lowest rate tax purchase within Tax Traders.

You can customise this section to allow for the tax to be paid in instalments once the interest component has been paid. 

Summary

The summary page will now show you all details of the order. This will also include a comparison between the cost with Tax Traders and the cost with IRD. This can be printed and sent to your client, saved for later use or click on submit request to get the order confirmed on the account. 

What next?

Once the tax is paid, the funds will be sent to IRD (if this was selected during the purchase) or held in the pool for a later date. 

You can see all upcoming arrangements and purchases within the transaction history.