The taxpayer can apply for the hold-over on the following grounds: The actual profits are likely less than 90% of the provisional assessable profits assessed. On this ground, the taxpayer has to provide certified management accounts covering at least 8 months of the basis period.

Loss brought forward is omitted or incorrect.

The taxpayer has ceased trading.

The taxpayer (who is a sole-proprietor or a partner) elects for Personal Assessment.

The person has objected to the prior-year assessment.

Notice of hold-over should be given to IRD at least 28 days before the due date or 14 days after the date of the demand for payment, whichever is the later.