Payments made via Flexitax are applied to the oldest tax date first.
For instance, if you had an arrangement in place for 28 August 2016 and 15 January 2017, all Flexitax® payments would be applied to 28 August 2016 until the liability at that date has been cleared. Any payments after that would then go towards the tax owing at 15 January 2017.
We apply Flexitax payments to the oldest tax date first to reduce your cost as this has the longest exposure to interest.
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