Frequently Asked Questions

Yugraj Singh Mahil Chartered Accountants Limited provides practical accounting, tax and business support to individuals and organisations throughout New Zealand.

Below are answers to common questions about our services, how we work and what to expect.

Yes. We welcome enquiries from new clients throughout New Zealand.

Before beginning work, we will discuss the services required, the available information and the proposed scope of our engagement.

Yes. We provide online accounting, tax and business support to clients throughout New Zealand.

In-person meetings are also available by appointment at our Whangārei and Auckland offices.

We work with individuals, sole traders, companies, partnerships, trusts, property owners, employers, charities and not-for-profit organisations.

Our services are not limited to any particular industry. We support clients from a wide range of backgrounds and business sectors.

We assist clients across many industries, including:

• Transport, trucking and logistics

• Courier and owner-driver businesses

• Construction and contracting

• Property investment and development

• Hospitality and takeaway businesses

• Retail stores and service businesses

• Medical and dental practices

• Professional services

• Franchises

• Charities and not-for-profit organisations

We provide practical accounting, tax and business support with clear explanations and personal service.

We combine professional accounting knowledge with an understanding of the day-to-day realities of operating a small business.

Support is available in English, Punjabi and Hindi.

Yes. We can help you understand the accounting and tax matters that may apply when starting a business.

This may include:

• Choosing an appropriate business structure

• Inland Revenue and GST registration

• Setting up accounting records

• Xero setup and support

• Understanding tax obligations

• Planning for cash flow and tax payments

The right setup will depend on your circumstances and business plans.

The first meeting gives us an opportunity to understand your situation, the work required and any deadlines or concerns.

It is helpful to bring or provide relevant financial records, Inland Revenue correspondence, previous financial statements and tax returns where available.

After reviewing the information, we can discuss the proposed scope of work and the next steps.

Yes. You can change accountants at any time.

Once you have authorised the change, we can contact your previous accountant and request the professional and financial records required for the handover.

Your previous accountant may need to complete outstanding work or resolve unpaid fees before releasing some records.

Contact us first to discuss your requirements.

We will normally ask you to sign an authority allowing us to communicate with your previous accountant and Inland Revenue.

We will then help manage the transfer of the relevant accounting and tax information.

Yes. We prepare annual financial statements and tax returns for a range of clients, including individuals, sole traders, partnerships, companies, trusts and rental property owners.

The exact work completed will depend on the agreed engagement and the information provided.

Yes. We can assist with GST registration, GST returns, reconciliations and general GST compliance.

We can also help identify missing records, unusual transactions or bookkeeping issues that may affect your GST returns.

Yes. We provide bookkeeping and accounting-record support based on the needs of your business.

This may include:

• Bank reconciliations

• Transaction coding

• Accounts payable and receivable

• GST preparation

• Payroll accounting support

• Xero assistance

• Year-end record preparation

No. The appropriate accounting system depends on the size, needs and complexity of your business.

We work with Xero and can help you decide whether it is suitable for your circumstances.

Yes. We can help with Xero setup, bookkeeping, reconciliations, reporting and general support.

We can also help you understand how to use Xero more effectively for your business.

Yes. We can review the available records and explain what additional information may be required.

Additional work may be needed to reconstruct or correct incomplete records. This could affect the time required and the fees charged.

Yes. We provide payroll accounting and filing support, including assistance with payroll records and Inland Revenue filing obligations.

We do not provide employment-law advice or advice about employment disputes. You may need a lawyer or employment specialist for those matters.

Yes. We can review what is outstanding, help organise the required records and prepare overdue returns where appropriate.

It is usually better to address overdue tax matters early rather than leave them unresolved.

Do not ignore it.

Send us a complete copy of the letter as soon as possible, including all pages and any deadline shown.

We can review the correspondence, explain what it means and assist with the next steps within the scope of our engagement.

We can assist with Inland Revenue matters within the scope of our engagement.

This may include:

• Reviewing Inland Revenue correspondence

• Explaining what information is required

• Preparing responses

• Communicating with Inland Revenue

• Assisting with payment-arrangement requests

Any decision remains with Inland Revenue, and no particular result can be guaranteed.

We can help review your position and assist with a request to Inland Revenue where appropriate.

Approval of any arrangement is decided by Inland Revenue and will depend on the circumstances and information provided.

Yes. We can assist the executor, administrator or family representative with accounting and tax matters relating to a deceased person.

The requirements depend on the circumstances. Current Inland Revenue rules and notification requirements must be checked for each matter.

Legal advice may also be required for estate administration.

Yes. We can assist with accounting and tax compliance for trusts and look-through companies where the work falls within our agreed service scope.

The appropriate structure and tax treatment depend on the particular circumstances. Legal advice may also be required when establishing or changing an entity.

Yes. We assist rental property owners, property investors and property-related businesses with accounting and tax compliance.

Property tax rules can be complex and may change. Advice should be based on your specific circumstances.

We do not provide legal or investment advice.

Yes. We assist charities and not-for-profit organisations with accounting records, financial statements, tax matters and general compliance support.

We do not provide audit or legal services.

Yes. We can help business owners understand their financial position, cash flow, costs, tax obligations and business performance.

We do not guarantee future results, but we can provide practical information to support better-informed decisions.

The information required will depend on the work being completed.

Common items include:

• Bank statements

• Loan statements

• Sales and income records

• Expense invoices and receipts

• GST records

• Payroll information

• Asset purchase or sale documents

• Rental property records

• Previous financial statements and tax returns

• Inland Revenue correspondence

We will let you know what is required for your particular job.

Yes. Records can usually be provided electronically.

Please do not send passwords, login codes or highly sensitive information through an unsecured method.

Documents can also be delivered to:

WOTSO, 31 Hannah Street, Whangārei 0110

Support is available in:

• English

• Punjabi

• Hindi

We welcome clients from all backgrounds.

Fees depend on the type of work, complexity, quality of records, time required and the agreed scope of service.

We will explain the expected work and fees before beginning where practical.

Additional work outside the agreed scope may involve additional fees.

Where practical, we can provide an estimate or agreed fee based on the information available and the expected scope of work.

The fee may need to be revised if the records are incomplete, the work becomes more complex or additional services are requested.

Any change in scope or expected fees will be discussed with you.

Timeframes depend on:

• The type of work

• The complexity of the matter

• Whether all information has been provided

• Inland Revenue or third-party response times

• Current filing deadlines and workload

Providing complete and accurate records early usually helps avoid delays.

We treat client information as confidential and handle it in accordance with our professional obligations and applicable privacy requirements.

Client information is not published or used in testimonials, case studies or marketing without permission.

We provide accounting, tax and business-support services within the scope of the agreed engagement.

We do not provide legal advice, investment advice or financial-product advice. Where needed, we may recommend that you speak with an appropriately qualified professional.

You can contact us by phone, email or through the website contact form.

Phone: 021 0234 6659
Email: ysm@yugrajca.co.nz

Meetings are available online or in person by appointment.

Contact us to discuss your situation and the information we may need.

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