If you’re self-employed or a contractor, you have two options for your ACC cover: standard CoverPlus or CoverPlus Extra. From the 2020 levy year, ACC is making changes to how you pay your CoverPlus. Here’s what you need to know.
If you're self-employed or a contractor, you'll automatically be on CoverPlus.
Until now, those on CoverPlus have paid ACC levies in advance. ACC has estimated the amount of your levy based on your previous year’s earnings. From 2020, you’ll pay levies for the financial year just finished and your levy will reflect your actual earnings as filed with Inland Revenue. This means you'll receive your 2020 CoverPlus invoice starting around July/August 2020 instead of July/August 2019, like you might be used to.
These changes will make the CoverPlus levy simpler, both for you and for ACC.
If you’ve recently stopped trading, you’ve probably paid a CoverPlus levy based on your 2018 earnings. Let ACC know what your actual earnings were for the financial year ending 31 March 2019 and they’ll send you a reassessment.
If you stop trading in the year ahead, you can either:
Contact Accident Compensation Corporation on 0800 222 776 or email firstname.lastname@example.org.
The levy for CoverPlus Extra is based on an agreed level of cover, so it won’t be affected. If you have CoverPlus Extra, you’ll continue to pay your levies in advance and will receive an invoice this year.
If you join or leave CoverPlus Extra part way through a levy year, you’ll pay a CoverPlus levy for the remaining part of the year. ACC will calculate this and invoice you for it.
Types of cover for self-employed people (external link) – Accident Compensation Corporation
Find out if CoverPlus Extra is a good option for you (external link) – Accident Compensation Corporation