The tax man is closing in on Pauanui.

While the Lexuses still glide round the streets at the weekend, things aren't rosy at the ritzy beach resort on the Coromandel Peninsula.

Only $146,000 separates Paunanui Lakes Resort and the taxman but the taxman wants his money.

Two companies related to the residential section development of the resort and its associated golf course have been given until May 6 to pay the $146,000 they jointly owe to Inland Revenue or face being wound up. The companies are Pauanui Lakes Properties and the Lakes Resort Golf and Country Club.

The second Pauanui Lakes Resort company this month has been put into liquidation, contradicting owners' comments that everything is fine at the development.

Lake Resort Villas, which had changed its name to Villa Management on Wednesday, was put into liquidation in the High Court at Auckland today.

An Inland Revenue application to have this company put into liquidation was unopposed and Associate Judge David Robinson said the evidence satisfied him that the company was insolvent.