For businesses and employers: Ceasing to operate a business
Employer tax obligations
This information applies to you if you were registered as an employer while running your business.
If you stop employing but continue in business
You may decide to permanently stop being an employer, but to continue in business. If so:
- contact us to inform us of the change
- show a finish date for each employee on your Employer monthly schedule (IR348).
| Note | |
|---|---|
| From 1 April 2008, employees who received a redundancy payment on or after 1 December 2006 may be able to claim a 6% redundancy tax credit, up to a maximum of $3,600. Find out how your employees can make the claim and what documentation you will need to give them. | |
If you stop business altogether
You may be ceasing to operate your business altogether. If so fill in and send us:
- a Business cessation form (IR315)
- an Employer monthly schedule (IR348).
Retaining records
When you stop operating your business, you must keep your business records for seven years from the year when they were created.
Date published: 27 Mar 2008
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