IBBZ Accounting

Chartered Accountants & Tax Specialist

 

Voluntary disclosure

 

Problem: Voluntary disclosure is a way that business used to reduce their shortfall penalties and in many cases avoid the risk of prosecution. Most people want to disclosure their tax voluntarily because they want a fresh start on their tax affair. Thus, a voluntary disclosure must be made carefully and precisely, as it is verified by the IRD and it can be followed by a full investigation.

If a voluntary disclosure is made before notification of a pending investigation, the penalty is reduced by 100% where the shortfall penalty is for not taking reasonable care, for taking an unacceptable tax position or for an unacceptable interpretation. For all other cases the penalty is reduced by 75%. 

Solution: IBBZ accountants will help you to understand voluntary disclosures and advice when you need to make one. We will also assist you with your voluntary disclosures and negotiate settlements with the IRD on the best terms possible. 

Google Reviews

 

Testimonials

Jayyleeh
25-September-2019
Awesome people to work with, we were done over by so many accountants, we finally found people who actually helped us, i would definitely recommend... really helpful you wont be disappointed
Jack Jevas
20-September-2019
My wife and I are very grateful to Saurav and his excellent team at IBBZ Accounting for providing us with an impressive service. We were 5 years overdue with our income tax returns, which was due to circumstances well beyond our control. Our overseas incomes were actually still being taxed in the UK, and we were genuinely unaware of the 'Double Tax Agreement' between NZ and the UK, and its implications. However, we are delighted that Saurav and Ravi managed to exercise their superb negotiation skills and expertise to provide us with the desired outcome. Ravi's determination and perseverance in getting the job done is highly commendable. We therefore recommend IBBZ Accounting to anyone who happens to be faced with a similar problematic tax … read more
Anthony Mason
15-September-2019
Needed a clean start with tax returns. Got great results from this professional team, feels like l have known these guys forever -would like to recommend them to anyone with tax issues,many thanks