Do you have provisional tax headaches?
If you pay provisional tax you will know how hard it is to get it right. Tax pooling is one of the few options Inland Revenue provides taxpayers to lessen the burden.
How it works: Taxpayers pay their provisional tax into a tax pool instead of to Inland Revenue. Once taxpayers know exactly what they need to pay in provisional tax, they transfer this out of the tax pool and sell any surplus to someone else (typically for a return greater than the Inland Revenue credit interest rate they would otherwise receive). A taxpayer faced with an underpayment can then acquire those surpluses for a fee less than the Inland Revenue debit interest rate.
We exclusively use Tax Traders for clients who wish to use this service. Give us a call 07 823 4900 or email us and we can help you evaluate whether Tax Pooling is right for you.