IRD has confirmed it is stepping up collection activity on overdue GST and employer (EMP) payments. If you have outstanding debt and don’t respond to IRD reminders, they may take stronger action, including deductions directly from your bank account or wages.
If you cannot pay in full, the most important step is to set up a payment plan in myIR. Having an instalment arrangement in place shows good faith and may prevent further collection action. Interest and penalties can still apply, but acting early helps reduce the impact.
IRD is also expanding its collection tools so more taxpayers can be offered instalment options sooner, including for smaller and more recent debts. The earlier you engage, the more options you have.
What you should do:
• Check any IRD notices and pay by the due date.
• If full payment isn’t possible, apply for a payment plan in myIR straight away.
• Keep filing on time to avoid further penalties and interest.
We can help you set up payment arrangements or discuss the options with you.
If you’re unsure about what’s owed or need help setting up an arrangement, get in touch with us.
We can work with IRD on your behalf and make sure you have a plan in place.
Disclaimer: This blog has been carefully prepared, but it has been written in general terms only. The blog should not be relied upon to provide specific information without also obtaining appropriate professional advice after detailed examination of your particular situation.
