Who fancies an IR audit?

IRD have been allocated extra money in the budget to increase audit activity. It's been a while coming and mostly been on hold since the Covid years. As accountants we welcome this - our professional ethics are to uphold the integrity of the tax system and it irks all of those who do pay our taxes to read headlines about those who don't.

Do you have anything to worry about? Not if you aren't hiding anything! And not if you have all your paperwork in place (we have hammered that message a lot).

But they can be costly - they generally start with a request for more information, which most times falls on us to provide. Then things go on from there. Which is why we are offering all our clients AuditShield. For a small annual premium you are covered for our time and the time for any specialists we need to bring in if necessary. We highly recommend it for any clients in the businesses that IRD are targetting, but all clients can benefit. Better than a bill from us.