Are You Paying Too Much in ACC Levies
We recently reviewed an ACC levy invoice for a client company where the shareholders receive both shareholder salaries from the company but also receive PAYE income from other sources. For three of the shareholders, the total income liable for ACC was over the maximum level of $120,070.
Upon checking the invoice, we identified that the clients should have been charged less, as the PAYE wages should have been taken into account. When we contacted ACC they advised that they do not receive this information from Inland Revenue.
As a result, we were able to obtain a significant reduction in the ACC levies which saved the client thousands of dollars.
Sudburys can review your ACC levy invoices for both your employees and for the shareholders and manage your ACC relationship for a fixed annual fee. If you are interested in having us complete an initial review of your ACC levies and acting for you in the future with regard to your ACC, please contact us to discuss this.
There are also opportunities for you to obtain a different form of ACC cover called ACC CoverPlus Extra. This cover allows you to agree a level of cover you would receive should you go under claim. This can be useful when your annual income allocation varies from year to year. It can also be used to reduce the amount of ACC cover you carry if you have income protection insurance as well.