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Inland Revenue Updates
Recently IRD has updated their website and systems which has led to some confusion and things to be careful of.
IRD is currently doing a lot of advertising about their auto assessments that will occur from 20th May 2019 onwards and how it ‘makes tax easier’.
We are asking that you be wary of any assessments or refunds you receive directly from IRD and speak with us if you get any. There can be errors in the IRD system and unknown information, so please get in touch and we can help ensure your taxes are correct.
IRD’s new system will refund any credit balance within 24 hours of it being paid now – so if you make a payment to IRD and accidently pay to the wrong tax type or the wrong tax period, it is highly likely they will refund that money directly to you and you then have 30 days to get it back to them without penalty.
Refunds can be missed when they are direct credited back into your bank account, so please be vigilant about details of online payments to IRD and call us if you need any assistance.
Accounting & Tax News