Inland Revenue (IRD) audits and reviews can strike any taxpayer — even when everything has been filed correctly. Unfortunately, responding to an audit can involve significant time, stress, and unexpected professional fees.
That’s where Audit Shield comes in.
What Is Audit Shield?
Audit Shield is a tax audit insurance policy that covers the cost of professional fees incurred when IRD initiates an audit, review, enquiry, or investigation. That includes our accounting time, and if needed, the fees of tax lawyers, bookkeepers, and other specialists — all up to a prescribed limit.
It’s a simple, optional insurance solution that gives individuals, businesses, trusts, and partnerships peace of mind when dealing with IRD.
What’s Covered
Audit Shield applies to most IRD-initiated activity, including:
- Income tax
- GST
- PAYE and employer returns
- Fringe Benefit Tax (FBT)
- Withholding tax (resident and non-resident)
- Imputation credit accounts
- Record-keeping reviews
It even covers previously filed returns, and there’s no excess if you need to claim.
Why Choose Audit Shield
No surprise costs – Avoid unplanned fees during IRD audits or reviews
Comprehensive coverage – One policy can cover multiple entities
Simple claims process – We manage everything on your behalf
Reputable backing – Underwritten by Lloyd’s and used by 600+ firms across NZ
Tax deductible – The premium is typically deductible for businesses and sole traders
Audit activity is on the rise, and many reviews begin without warning. Whether you’re a small business, property investor or self-employed, Audit Shield helps you stay protected from financial disruption.
Audit Shield has helped thousands of New Zealand businesses manage unexpected audit costs. For a snapshot of recent claims activity across the country, check out this Audit Shield Claims Summary.
Traktion clients receive a letter annually but if you’d like to opt in or learn more, just get in touch with us — we’re happy to walk you through it.
