AIM Method of Calculating Provisional Tax
Many of our clients may have seen or received information from IRD about the AIM method of Provisional Tax calculation
This method will become available for use on 1st April 2018. We are not recommending it to our clients for the following reasons:
- Most SMEs (Small Medium Enterprises) qualify to use Standard Provisional Payments without any Use of Money Interest
- Depending on your business you may have to do things such as a physical stock take every two months
- While IRD are promoting that this is an easy method to use in fact, in our opinion, it is not and also the option is not available through Xero and MYOB for clients to use – it is only available to firms such as ours to use.
If you want to discuss the AIM option please give Sari or Anna a call.
