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Are "cashies" killing your business?

With the IRD signalling that they will be targeting “cashies” and take a harder view of overdue tax debt for construction sector businesses, it’s never been more vital to get your cashflow sorted.

The IRD release suggests they are aware of an increasing number of construction businesses doing “cashies” and will be looking to crackdown on these businesses, threatening legal action and pursuing those with overdue tax debt.

Their parting message to tradies was “Do the right thing and get your outstanding debt and returns sorted now.”

While cashies may seem like a harmless way of boosting cash in your pocket, the real effect on your businesses cashflow can be devastating.

You see for every job you do as a “cashy” your business misses out on cashflow to pay for materials & labour (and tax), you can’t credit check the individual or company you are doing work for, and you can’t send unpaid “cashies” for collection if things go wrong.

This can quickly lead to a debt spiral and the lack of cashflow can kill a business.

While tax compliance is not our business, we can help with your cashflow. Which in turn can help you meet your compliance obligations.


Our recommendations are;

  1. Ensure you have robust terms of trade

Your terms should clearly set out what happens if there’s a dispute, cover your costs for collection if things go wrong and give you permission to complete a credit check on your new customer.

  1. Credit check your new customers

Take the guesswork out of onboarding new customers. Our credit reports will give you everything you need to know to make an informed decision as to the credit worthiness of your new customers.

  1. Lodge your overdue debts early

Lodge your overdue debts at 90 days. Our experience suggests that the earlier a debt is loaded for collection the higher the chance we can collect it for you and get cash back in your bank account.


What you need to do;

  1. Register online to load debts and run credit checks on new customers
  2. Book a meeting with your local business support specialist and get your terms sorted

Get more information

Your local business support specialist can assess your situation and provide recommendations on the best credit management solution for you.

Call us today at 0800 324 768 or fill in the form and we will get in touch as soon as possible.

See what our clients are saying:

Colin Parkinson
Colin Parkinson
12. April, 2024.
Quick action from request - sorted
Heather Finlayson-Drower
Heather Finlayson-Drower
21. March, 2024.
EC Credit Control were amazing to deal with Quick and Efficient, I sent a email, I was emailed back saying they had forwarded within 30 minutes of sending it and within minutes of that email I had a call. From there it was easy, I explained what I needed what industry I required it for and they sorted everything.
AutostopAutomotive Limited
AutostopAutomotive Limited
19. March, 2024.
Awesome and easy to deal with thanks..
jan Tasker
jan Tasker
11. March, 2024.
EC Credit are always able to answer questions and give advice on Debt collection and PPS Registration matters. They respond quickly and professionally.
Queenstown Engineering
Queenstown Engineering
26. February, 2024.
Great working with EC Credit Control and having that support to keep our Terms of trade up to date, advice and registering applications with PPS. Makes running the business easier as one less thing to worry about.
Faye Thomas
Faye Thomas
20. February, 2024.
Super helpful, easy to deal with. Platform is easy to navigate. 10/10
Andrea Bracey
Andrea Bracey
15. February, 2024.
Very helpful and explained the process very well