What Are Schedular Payments? Schedular payments are a type of income subject to withholding tax. They are typically made to contractors or businesses for specific services, such as construction, IT, or consulting work. If your company has received schedular payments, the Inland Revenue Department (IRD) will provide a summary of these payments to help you complete your tax return accurately. Reporting Schedular Payments in the IR4 Form Any such payments your company has received during the tax year needs to be declared in the IR4 form. It's important to note that if your company is a close company (a company with five or fewer shareholders), there are special rules that may apply. In some cases, tax deducted from schedular payments can be transferred (attributed) directly to the company’s shareholder-employees. This can help simplify the tax process for both the company and its shareholders. The Attribution Rule: A Key Anti-Avoidance Measure The attribution rule is designed to preve...