What should I think about when I deregister my business?
If you decide to close your business, there are a number of things you need to arrange. For example, you have to deregister your business at the Chamber of Commerce. And of course, you have to pay outstanding invoices before you stop, as you as an individual are still liable. Finally, you have to settle with the Tax and Customs Administration for tax purposes. So you can't 'just stop'. What you do have to do, we explain below.
Accounting and The Bookie
Luckily you have a helpline: The Bookie. Since we take care of your bookkeeping and declarations together with you, you can contact us as soon as you want to stop. Here you can read how the subscription works, when and how you can end it and what work we still do for you. Since stopping your business is not part of the regular accounting of your company, additional work has to be done before the deregistering. In consultation, these will be invoiced extra per hour. For this purpose it is useful to discuss with your Bookie what is needed with you. You can easily do that by booking a consultation: https://www.thebookie.nl/afspraak/
Chamber of Commerce and Tax and Customs Administration (De Belastingdienst)
As soon as you deregister from the Chamber of Commerce, this will automatically be communicated to the Tax and Customs Administration. This means that your VAT number for your company will be discontinued and you will no longer be able to send invoices as an entrepreneur (with VAT). If you start again for yourself later on, you register again and you will receive a B02 or B03 number, depending on how many times you have registered a business before.
In some cases you are entitled to a BBZ (Besluit Bijstandsverzekering Zelfstandigen). Read here how that works (Dutch only)
Closing your business (one-man business)
1. Contact your Bookie and discuss what we can do for you. Think about:
- your sales tax returns for the remaining quarters and final VAT returns
- your annual documents and income tax return
- your profit and deduction from deregistering (balance sheet value, actual value, fiscal old-age reserve)
- goods and/or car that may have to be put into private storage (deduct VAT on purchased goods)
- tax settlement with the tax authorities
2. Deregister your company at the Chamber of Commerce
3. Cancel your bank account, contracts, insurances and memberships that's on the company's name.
4. Check any outstanding items, invoices and liability.