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Specialised Services - Complicated Financial Situations, Separation of Relationship Property, IRD Debt Negotiation

Often we have clients coming to us that are in quite complicated and stressful situations, and have tried to get help from their lawyer or accountant to find a solution and way out, but with no luck.

We have the ability to look at your whole situation and delve deeper and at a much affordable rate, referring back to your lawyer and accountant when needed.  Thus coming up with more sustainable solutions at a sustainable cost.

IRD Debt Negotiation and Tax Write Offs

If you have high levels of IRD debt, which are ever increasing with penalties and interest and have no idea how to go about paying the tax debt, we can do the negotiation on your behalf to come up with a sustainable payment plan.  Depending on your situation we may be able to negotiate tax write offs of  some or all of your IRD debt.

We will look at your whole situation, private and business, work out a realistic budget based on your private costs, profit from your business and cashflow, and determine if and how much you can afford to pay back to IRD as a lump sum and/or ongoing payment.   We will then present this as a report to IRD outlining the factors that lead to your debt, mitigating circumstances, current situation and proposal.

We will provide you with advice on how to structure your business and private assets and liabilities, set targets and an action plan to increase your profit from your business and work with you to manage your cash flow to ensure that you can afford to keep up with your on going tax and GST obligations, and pay back your tax debt.

If you choose to ignore your IRD debt, then IRD can just take money from your bank accounts or PAYE earnings, or put you or your business into bankruptcy/liquidation.

Contact us to have a free chat about how we can help you to avoid this happening to you.

Separation of Relationship Property

Emotions often run high in relationship breakups, and it can be tempting to either walk away or incur high legal bills out of spite. Relationship separation is one of the most common causes of bankruptcy and we often see people a year or two after a relationship separation facing this situation.

Therefore it is important to be sensible and take stock of your options and ensure that you can survive financially after the fact, and get your fair share of the relationship property.

It is also important to realise what relationship property is (generally anything used for the common use or benefit of both of you), and that that also can include debt as well.

We can look into your situation leading up to a separation, or following a separation, to ensure that both parties can survive financially on their own depending what path they take, and that interim upkeep payments are fair. Then we can look at the options for seperating the relationship property in an amicable way, if possible.

Then you can get this put in writing and signed off from your lawyer, rather than having to pay for an expensive legal battle which may end up using all your funds you were entitled to anyway.

Complicated Financial, Business or Family Situations

If you are finding your financial situation is all too much, and are facing multiple life and financial issues and are not sure where to turn too, we can and do help people work through these situations.

Such situations will probably include at least two of the following situations:

  1. You have particularly high levels of debt, combined with irregular or a loss of income;
  2. You work for yourself or have a business, and are unable to pay yourself a regular wage
  3. You have been through or are going through a separation
  4. You are looking to expand your business or get back into the job force
  5. You have extra family commitments such as being a single parent or looking after sick family members

Because these situations are likely to involve extra time gathering all the information and presenting options, the package deals may not be applicable. Please Contact us to discuss whether your situation requires a top up of the packages, in order to provide more focus in one area.

Tauranga, Auckland,Budgeting advice,Financial hardship, Independent Financial Advice, Retirement advice

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