Our standard transfer schedules go to Inland Revenue (IR) each Friday.
Transfer lines which are automatically processed by IR’s system could show up on the IR statements within a few hours. Automatic processing can therefore be completed as early as that Friday evening, with the rest coming through by the Tuesday or Wednesday of the following week.
If you are finding some transfers are taking longer than this to show on your client's IR account, please do not be concerned. It is most likely the transfer has been assigned to a manual processing queue for review and processing by a team member in the tax pooling team at IR.
Where this occurs, IR has 15 working days from the date of transfer to process or otherwise query the transfer with us. During this time, your normal IR representatives do not have a view of the pending transactions.
If you have any concerns, please contact us.
Note: We can only action follow-ups with IR on transfers which are pending once the 15-working day period has lapsed.
No matter how long transfers take to get processed through IR's system, the time it takes to process has no adverse effect on the transaction itself. When it arrives, it will be assigned to the tax date you require, removing any late payment penalties and use of money interest.