Our Relationship with Inland Revenue

We always act in the best interests of our clients. And, we also maintain a professional and constructive working relationship with Inland Revenue (IRD). This balance is critical in the cryptocurrency tax space, where rules are still developing and interpretation is often required.

We are Chartered Accountants with more than 15 years of experience, and we have been filing cryptocurrency tax returns since 2017. Over this time, IRD has reviewed our internal working papers on site, which has given them confidence in the quality of our processes and the robustness of our approach.

Our team is trusted to handle some of the most complex crypto tax situations in New Zealand. We deal directly with IRD’s key crypto compliance officers and policy makers, often speaking with them every week or two. These relationships mean we are able to resolve issues quickly, clarify grey areas, and ensure our clients are protected.

What we do with Inland Revenue

While the majority of our clients’ work is compliance (financial statements and tax returns), IRD occasionally undertakes more detailed integrity reviews (or, in recent cases, audits). An integrity review usually arises when a client’s tax position is materially different from what IRD expects. For example, a significant refund or liability that does not align with their historical income profile. Our role is to prepare robust evidence and explanations to ensure these reviews are resolved efficiently.

We also lodge one to three voluntary disclosures each week, where past tax returns are amended to include previously unreported cryptocurrency transactions. Thanks to the thoroughness of our documentation, IRD typically accepts these disclosures without further queries.

Policy Work with Regulators & Professionals

Beyond day-to-day work, we are regularly involved at a policy level. In 2021, Tim Doyle co-presented at the Chartered Accountants Australia and New Zealand national tax conference alongside an IRD crypto technical policy advisor. We have submitted several binding rulings with IRD on cryptocurrency transactions, shaping how uncertain areas of tax law are applied in practice. Tim also has ongoing informal discussions with IRD on cutting-edge scenarios, ensuring both we and our clients remain at the forefront of developments.

Importantly, IRD frequently requests our input on the issues we are seeing across our client base. We view this as recognition of our position as one of the leading firms in New Zealand for crypto accounting. It also reinforces that while our responsibility is always to our clients, we are trusted by IRD as a source of insight and practical knowledge.

Confidentiality and integrity underpin everything we do. Our clients can be assured that while we maintain open lines of communication with IRD, our duty of care is to protect their position and advocate for them in every interaction.