How do you close the financial year as an entrepreneur? We’ve listed the most frequently asked questions about this procedure (and their answers).
I’m unable to submit my complete financial administration before February 1. Is that a problem?
Don’t worry! After you’ve submitted your complete financial administration, we aim to file your income tax return within three months. If you submit your business administration after the 1st of February, we may not be able to meet the deadline of May 1. This isn’t much of a problem, because in that case we’ll automatically request an extension for you. Do keep in mind that the Dutch Tax and Customs Administration can charge tax interest when your income tax return is submitted after May 1.
We can also request a provisional assessment for you. In that case, you pay a deposit on your income tax (and healthcare insurance premium) based on an estimate of your profit. This amount is set off against the final tax calculation, meaning that you’ll pay less or no tax interest.
When will my tax return be submitted?
Our aim is to file your income tax return within three months after you’ve submitted your complete business administration to us. We handle all administrations in order of submission.
Will my tax return be submitted before May 1?
If you’ve submitted your administration to us before February 1, we aim to file your income tax return before May 1.
Will you request an extension for me?
Like any other accountant, Kees de Boekhouder will request extensions for all customers, if necessary. So, should you have other priorities at the beginning of the year, you’ll still be able to hand in your business administration later in the year.
What is tax interest?
If you receive an assessment from the Dutch Tax and Customs Administration after July 1, you’ll be charged tax interest over the payable amount. You need to pay this interest because you’ve had access to the money for a longer period of time and the tax authorities have not. That’s why tax interest is charged.
Can you also file my partner’s tax return?
Yes, we can! In order to do so, we first need your partner’s details. You can enter them in our online system with your personal data. Then submit the required documents for your fiscal partner. The costs for filing your partner’s tax return are not included in the standard Kees de Boekhouder package. We’ll therefore charge 120 Euros including VAT for the handling of your partner’s tax return.
Can you also request an extension for my partner?
If you have a tax partner, make sure that your partner’s details are registered in our system and up-to-date. You can add them to your personal details in our online system. If you want us to handle your partner’s tax return as well as yours, we’ll charge 120 Euros including VAT for this. You’ll receive a separate invoice for this service.
You can use the questions for income tax as a checklist for your tax partner as well. We’ll also need the relevant documents from your partner. You can upload these under deadlines at question six of the questions about the income tax return.
