IRD cracks down on residential property investors not paying tax on sales profits
1 December 2020
Credit: 1 News
Inland Revenue is cracking down on residential property investors who have sold without paying tax on the profits.
COMPANY OVERVIEW
Accountancy Insurance
Accountancy Insurance was established in 2003, specialising in Audit Shield – a comprehensive tax audit insurance product which covers the professional fees incurred as a result of an official audit, enquiry, investigation, review or examination instigated by Inland Revenue (IR) or other New Zealand government authority.
New Zealand operations of Accountancy Insurance were established in 2011 with the Auckland based office opening its doors. Today Accountancy Insurance provide Audit Shield to thousands accounting firms across metropolitan and rural areas of New Zealand, Australia and Canada.
Powered by knowledge
We work solely with accounting firms, so we understand what is happening in the industry, and also how precious your time is.
Client centric
Our success has been gained as a result of our collective passion for customer service and ensuring our offerings always reflect our client’s needs.
DISCOVER AUDIT SHIELD
We truly take the risk and the hassle out of government initiated tax audits – freeing you to offer better service to your clients and to grow your business.
SUCCESSFUL CUSTOMER
At Accountancy Insurance our vision is to be the pre-eminent provider of tax audit insurance to accounting firms across Commonwealth countries.
We partner with thousands of accounting firms throughout New Zealand, Australia and Canada to provide an end-to-end solution that best suits the needs of accounting firms and their clients.
Greg Millar
Director, Alliott NZ Ltd., Auckland
Audit Shield provides our practice with another value-add service giving our clients further peace-of-mind. Accountancy Insurance provides excellent assistance implementing the product; they made the process very easy and cost effective for us.
Paul Hodson
Director, BDO, Tauranga
Our accounting firm started to provide Audit Shield to clients in 2013. It was well timed as Inland Revenue audit activity has increased significantly since then.
Scott Mason
Managing Principal of Taxation Consulting, Crowe Horwath, New Zealand
We were the first firm to introduce Audit Shield in New Zealand, and we believe it demonstrates to our clients that we are always on the lookout for new ways to continue to provide them with great service.
Stuart Yarndley
Business Manager, Gener8, Te Awamutu
Audit Shield is very user-friendly and easy to implement. Accountancy Insurance handles the production and mailing of invoices and letters; our time has been minimal in relation to the perceived value to our clients.
Cal Rogers
Director, HWI Limited, Auckland
Clients are certainly happier that they're 'not on the clock' if an audit eventuates. Audit Shield offers our clients 'certainty' - a certainty that they won't be getting a bill from us when battling away IRD enquiries.
Bill Mancer
Director, Rise Accountants, Auckland
Offering Audit Shield, as an additional value-add service, actually educated our clients about the risks involved with filing inaccurate tax returns. Typical feedback from our clients has been that the Audit Shield coverage is a positive response to a tougher auditing climate and gives further peace-of-mind.
Andrew Hayes
Director, Andrew P Hayes Ltd, Oamaru
With Audit Shield the service is great. The online portal is simple to operate and the team at Accountancy Insurance is really helpful and supportive. Our increasing client take up of the Audit Shield cover indirectly tells us that our clients value the Audit Shield service and appreciate the additional support we provide by offering the cover.
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Audit Shield is underwritten by certain underwriters at Lloyd’s. Accountancy Insurance New Zealand Limited Partnership [AI] issues the product under an agency with certain underwriters at Lloyd’s. We normally receive a commission from the insurer. We may alternatively, or in addition, receive a fee for our services we provide. The price we quote will be inclusive of commission and any additional fee. Insurance will not cover every event or loss. Limits apply to cover. Cover provided by an insurance policy is subject to the terms, conditions and exclusions described in the relevant policy. Contact us for a copy.