ACC is currently undertaking reviews of the business classifications in some industries in order to confirm that your business is using the correct classification.
A business industry classification is a way of classifying a business by the main activity it is involved in. Each classification consists of a description (the ‘business industry description’) and an associated code (the ‘BIC code’). ACC uses business industry descriptions and their related BIC codes to determine which of ACC’s classification units will apply for levy invoicing.
Tracey Harper runs Monteck Carter’s ACC Management Service and has commented that over the past few weeks, several clients have received a letter from ACC requesting further information on their businesses activity. In most cases, the classification relates to the services provided or goods produced:
Employers – the classification is based on the business activity, not the tasks of individual shareholders, directors or employees
Self Employed – the classification refers to the nature of the work done, rather than the setting in which the work takes place.
Information gathering is done using current information or from other sources such as:
- Advertising in local newspapers
- Social media
- Business websites
If you are not sure or do not respond to any request from ACC you will automatically have your business classification changed to what ACC feels is appropriate for your business.
This may or may not be correct and can be extremely hard to determine especially if you have several different business roles in your industry. If your levy classifications are changed, invoices from ACC are reassessed which may result in a further debit on your account and can be backdated for 1 or 2 years.
Do you need your ACC Classification checking?
As part of our compliance services we look after all aspects for ACC for your business.
- Determine whether cover is correct
- Apply for Cover Plus Extra cover is necessary
- ACC Invoices are sent direct to us for checking classifications and levies charges
- Information is updated directly with ACC – no need for you to contact them
- Payment arrangements are made on your behalf include extension of time if required
- No need for you to send ACC information in with annual accounts – we have access to it!
If you would like further information or require us to manage your ACC account for an annual fee, please contact Tracey Harper to discuss. 09 273 3682