Payment FAQs

Paid IR by accident? Missed a payment? Early settlement or outstanding balances? Read on.

I put an arrangement in place for my client to purchase tax but they have accidentally paid IR instead. How can I fix this?

As long as we are still within the tax pooling window for the period of tax being purchased, IR is happy to assist with arranging a refund of the amount paid back to the client so they can then correctly settle their invoice. It is important to make contact with IR quickly to get the refund process in place, particularly if the amount exceeds $100,000. We are happy for you to provide a copy of the clients invoice to IR in support of the request if it is required, to evidence the payment has gone to IR in error and was intended for a tax purchase payment. Depending on the time period between the due date of the invoice and the payment being returned and then paid to settle the invoice, we may need to make adjustments to the invoice payment date. Please get in touch with our team to discuss your situation as needed.

I set up an arrangement for my client but they need a different payment date. Can I adjust this?

Yes, if the client hasn't made any payments towards their arrangement you can click on the transaction under "Transaction Details" in our portal and can then use the "Edit Order" or "Change Payment Date" buttons on the right-hand side to access the transaction, edit to suit and submit again for a new invoice. The prior transaction and invoice will be overridden by your new inputs. If your client has already made a payment towards the arrangement, then these options will disappear and you just need to contact us so we can assist.

My client has been making payments against an order, where do I find details of the dates and amounts they have paid?

On your taxpayer's dashboard, click on the current transaction. Towards the bottom of the page we provide a list of all payments made by the client towards their order, including the date of receipt, the name of account the funds originated from, the reference provided on the payment, and the amount of each payment.

Do you send out reminders for payments being due or overdue?

Yes, for most transaction types one or more reminders will be issued. The type of notification received and when this is issued will depend on the type of arrangement put in place. For finance arrangements, you will receive a reminder that the client has a core tax principal amount due date approaching, and you will also receive a further notification if the principal is not received within two working days of its due date.

For single payment purchase arrangements you will not get an initial reminder payment is approaching, however, you will get a notification if the payment is overdue by two working days. Please note we do not issue reminders on instalment payments or Pay as You Go arrangements. Summary notifications will be issued only when payments are received and processed to the arrangement.

I had an instalment plan / Pay as You Go plan in place for my taxpayer, but they have told me they wish to settle the balance now as one payment. How do I go about working out what remains and what still needs to be paid?

Please get in touch with our team in this scenario. We can check what balance of core tax remains from their existing arrangement (taking into account the amounts of tax already achieved from prior payments) and can set up a single payment arrangement on the settlement date requested prior to removing the balance of the previous arrangement for you. Before getting in touch, please confirm with your client the date they would like to make settlement on so we can set this up correctly for them.

I set up an interest upfront instalment arrangement for my client, but they have told me they can't make one of the instalments. Can I extend this to a new date?

Yes, if the interest is paid upfront with instalments of core tax planned thereafter, each instalment line acts like an independent finance transaction. As the instalment comes due, if your client is unable to make payment of part or all of the amount due, you can click on the transaction line on your dashboard and extend the maturity date just for that instalment out to a new date. A new interest charge will be invoiced for the extended period for the specific instalment which is extended.

My client just paid their finance fee and first instalment but only the finance fee is showing on the account. Why is the instalment not showing yet?

On interest upfront arrangements, our trustee has to authorise a status change following receipt and allocation of the finance fee. Depending on how close together we receive the finance fee and initial instalment, we may have to hold your client's instalment payment until the status is amended by Public Trust. Once cleared, we will update the instalment payment records to reflect the payments made. If you are ever concerned that a payment is missing or not yet assigned, please feel free to contact us.

We sent a purchase estimate to the client but didn't receive a response from our client, and have now received a purchase receipt from Tax Traders. What will happen with the purchased funds?

When we receive a payment to our purchase account which does not automatically match against an invoiced transaction, we will check the client's file to see if any saved estimates exist for an amount matching the payment received. If no estimate exists, we will either contact you directly to clarify how to proceed, or we will move the funds to our deposit account so they can be date stamped and retained on the client's account for their future use. If a saved estimate amount matches the amount received, we will submit the invoice for you and assign the funds received against the invoice.

Note: initially on submission we will set the purchase to be held in the pool, as we need to confirm with you prior that a liability exists at IR for the amount purchased before the funds can be set to transfer out to IR. We will normally be in touch with you to confirm however in all cases where this is not confirmed, following processing being completed the funds will become available at the tax date purchased on the taxpayers tax pooling account. You can then set up a transfer of these funds through the Manage Tax > Transfer to IR option on your dashboard.