If you’d like your refund (“the credit”) transferred to another account or to arrears you’re paying off by an instalment arrangement, you’ll need to tell Inland Revenue what date you’d like it transferred. The date you choose depends on what tax has been overpaid and whose account you want the credit transferred to.

If the transfer is to arrears being paid off through an instalment arrangement, you’ll need to include a note with your return, authorising the transfer. Please clearly state:

• that the transfer is to arrears currently under an instalment arrangement

• the name and IRD number of the taxpayer the transfer should be made to

• whether the taxpayer is an “associated taxpayer”

• the tax type period

• the date you’d like the transfer to take place.

When transferring overpaid tax, “associated taxpayers” means a:

• company you’re a shareholder-employee in

• partner in the same partnership

• relative (for example, child, parent, spouse, or partner)

• trustee of a family trust you’re a beneficiary of.

You can ask for your credit to be transferred at any date as long as it’s not before the relevant date shown below.

For credit transferred:

• to your account/an associated person’s account

If the credit is from excess tax deducted (for example, PAYE deducted) it’s the day after your balance date (or 1 April if your balance date is before 31 March). If the credit is from overpaid provisional tax it’s the day you overpaid it.

• to a non-associated person’s account

It’s the later of:

• the day you requested the transfer, or
• the day after you file your return.

If you’d like your credit transferred at a date in the future, attach a note to the front of your return with details of the:

• amount you want transferred

• account you want it transferred to, and if it’s the account of an associated person

• date you’d like it transferred.

If you don’t tell Inland Revenue the date you’d like your credit transferred, they will transfer it at a date they think gives you the greatest advantage. Contact Inland Revenue if you’d like to change the transfer date and tell them if this transfer is to cover a debt.

See Bank account number for more information on how to have your refund direct credited to your bank account.