When do you file my income tax return?
Once the fiscal year is over, i.e. after December 31, we can prepare your company's annual figures and file your income tax return in the new year.
In short, this process goes through three steps (and one extra for general explanation):
STEP 1. you complete the Income Tax Questionnaire in The Bookie Webapp, providing us with the additional information we need and instructing us to file your return (possibly for your partner)
STEP 2. you join the Queue and once it's your turn we will prepare a draft version. If we have any questions, we will contact you.
STEP 3. you receive the draft version and as soon as you approve it, we file your tax return.
4. you only pay when the tax authorities send you the final assessment.
Now this is the short version. We went into more detail below.
1. Questionnaire
If you've done your paperwork with us, we recommend that on February 14 (we set the questionnaire up for you on Valentine's Day every year) you immediately follow the questionnaire via the Start Income Tax Return button and provide all the needed information. Not sure what information is relevant to the Income Tax Return? Then read this handy overview. In addition, we always have online explanations.
Do you have a tax partner and do you want us to file his/her tax return as well? Notify your Bookie before May 1. Then we will apply for an extension for her/him too. Costs for a joint declaration with a salaried tax partner are € 95 ex VAT per year extra.
2. Postponement and Queue: front of the queue (urgent) / back of the queue
Normally, an income tax return must be filed before May 1. That is why accounting firms always request an extension. That way we have 1 more year. So for the 2022 return, we have until May 1, 2024. You can submit your questionnaire until October 31, 2023. If you file later, you don't have to pay your income tax until later, but you have to pay tax interest.
After completing the questionnaire and submitting the required information in full, you will join our queue. If we miss anything, we will email you. So the sooner your information is complete, the sooner we can get started. Whoever fills out the form and provides their documents first will be first in line. Read the blog Tim wrote about the Queue.
We can only see the Pre-Filled Return (the information known to the tax authorities) starting in March. This authorization is sometimes ongoing and sometimes needs to be forwarded. That is the QR code. Since it is impossible for us to complete all income tax returns by May 1 also given the first quarterly month in April, we (as is customary) request an extension for filing your income tax return.
However, we can arrange to schedule extra hours so that you receive your annual returns sooner or we file your return before May 1. You request a spot in the Queue and pay 25% extra for a quick delivery.
This way you avoid paying tax interest. Mail or call if you want this.
3. Approve draft and submit tax return
You will receive an email with the draft version of your income tax return, including the annual figures for your company.
We ask you to check this. Of course we understand that you are not an accountant. That's why we have an explanation here on what to look out for and you can always schedule a consultation if you want more detailed information or have questions.