Accountancy Insurance

Did you know you are able to take out an insurance policy to cover some of those unexpected accounting fees?

At Epplett & Co we prefer to ensure our clients understand the work we do for them and the value we provide prior to invoicing you. Unfortunately sometimes, IRD asks for information back from us, and this time spent needs to be charged additionally.

Under our Master Audit Shield Policy (underwritten by Vero) we are able to offer our clients cover for such queries, whether they be further details on an income tax or GST return, a risk review or full scale audit.

You will be receiving a letter of offer relating to this in the coming month.

It may seem odd insuring against IRD audit, as we and you both know you aren’t doing anything “dodgy”, the reality is that most queries from IRD result in no audit, however there comes time and cost related to proving otherwise!

This is an optional cover, however we are seeing increased IRD activity, and of the requests last month, the average fee to clients to respond to these requests was approximately $200, more than the cost of most cover plans.

Client cover benefits:

  • All your entities under one policy
  • Covers all tax types, even those Epplett & Co doesn’t prepare (e.g Payroll, RWT etc)
  • Retrospective cover – includes all old returns irrespective of year filed
  • Includes any additional charges incurred that may be required such as tax specialists, lawyers etc

If you’d like to find out more, call us on 06 878 8824 or email tax@epplett.co.nz