Need Help with Your Tax Arrears?
At TDM we help businesses and individuals negotiate and manage their tax arrears. It doesn’t go away by itself, and the penalties you may incur for late payments can often be severe.
How We Can Help
- We are experts in this area, having helped many individuals and businesses with their tax issues. At the very start, we will take the time to discuss your situation and get clarity of the full picture. This will help us determine and advise you on the best approach for your circumstances.
- At TDM we understand the ins and outs of tax legislation, and the processes and procedure that Inland Revenue follow.
- We can directly represent you to Inland Revenue on your behalf taking away your pressure and stress.
- We can prepare the appropriate and necessary documentation to present your situation in the best light to support a more likely favourable outcome.
- This includes providing a detailed submission based on case law and tax legislation.
- With our expertise, we can talk to Inland Revenue, giving you the best chance of avoiding penalties and sanctions.
- We help a range of trading entities to clear their tax arrears. This includes individuals, trusts, sole traders, self employed, and companies.
Payment of Your Tax Arrears – The Options
Once the outstanding amount of tax has been determined, we will act quickly and effectively progress the process, to lock in and contain your situation.
This includes:
- Liaising with the IRD and getting you tax account placed under ‘arrangement’.
- Negotiating and determining an agreed repayment plan with the IRD, that is appropriate for your financial circumstances. This is a common option, with regular repayment and instalment plans set up for 3 years, if not a bit longer, depending on the size of the amount and your repayment capabilities.
- For more extreme cases, discussing with Inland Revenue the option to write off your amount due, in part or full.
- Where IRD agrees, we will aim to reduce the principal and/or total amount owing, based on an agreed repayment approach. This also includes, exploring any options to reduce interest and penalties.
- Remember, the sooner you start to address your situation, the greater the number of options you have.
- Our approach from the start is to find a suitable path for both parties, yourself (or your business) and Inland Revenue. This includes where possible avoiding the situation of needing to declare bankruptcy or having your business placed in liquidation.
Our Tax Negotiation Services
Our experienced team of specialists, accountants and lawyers will represent you in negotiating a settlement with Inland Revenue.
We help clients confront and clear tax arrears, even the most challenging, complex and difficult problems.
Contact Us today to discuss your circumstances, so that we can then advise and guide you on your best options.
