As an accountant whose small business is based around family and friends, being able to provide flexible tax solutions that save his clients money has been of significant benefit in strengthening relationships.
Paul Donnell of Bona Fide Accounting Ltd has been an accountant for around 40 years. For most of those 40 years, he worked in a medium sized firm. But the time came to move on. When a client of the firm offered him a part-time position with his company, they encouraged him to set up his own small accountancy practice working out of their premises.
With his partner Wayne Freeman, another chartered accountant, they brought together around 100 clients, mainly family and friends that they’d serviced over a long period, including some reasonable-sized companies and trusts.
Paul first learned of TMNZ’s service in late 2006 at a presentation given at an Auckland branch Tax Special Interest Group meeting. “It was new to me and I thought it was something that could really help our clients.
“Some clients, from time to time, have cashflow issues and are unable to meet their tax liabilities. Either they can’t pay on time or they have better years than expected resulting in a tax bill that is greater than they’d anticipated.
“TMNZ offered a solution that could help them pay less interest and avoid having to pay the IRD’s late penalties on overdue tax.”
Now, Paul purchases tax through TMNZ to help his clients make payments on time. He says knowing he has this facility takes pressure off his clients. They can pay later than the due payment to IRD and they’re not hit with late payment penalties and high interest rates. TMNZ offers a much better interest rate than IRD charges.
“With TMNZ, our clients can manage their tax better and they’re not limited to specific payment dates which helps their cashflow. They pay what they want, when they want. It makes it simple for both us and the client.”
He also finds the process of purchasing tax easy. “Any feedback I’ve given on their website, they’ve been very quick to respond.
“Our clients are very satisfied they’re saving money. It shows them we’re looking after their best interests.”
For Bona Fide clients, TMNZ’s Flexitax® saves money and adds a flexible way to manage their taxes. For Bona Fide Accounting, TMNZ offers another great solution which keeps Paul’s clients happy and allows his business to stay strong.