End-of-year tax tips: prepared for 2018 in

1. VAT return every quarter
Are you currently still in the agricultural scheme? Please note, because this expires on January 1, 2018. This means that from January 1, you are obliged to submit a VAT return on your company every quarter. 

2. Check your provisional assessment
At the beginning of the financial year you will receive a provisional assessment from the tax authorities. The amount of this assessment has been calculated based on data from previous years. Do you expect a higher or lower taxable profit than stated in your assessment? Then make sure you request a change to the provisional assessment. Even if you do not agree with the provisional assessment.

3. Avoid interest on taxes
Do you expect that the taxable profit will be higher than the profit on which the provisional assessment is based? Then make sure that you have the provisional assessment increased no later than early April 2018. This prevents you from owing tax interest on the additional tax to be paid. The tax authorities charge an interest of 1% from July 2018, 4. 

4. Optimize investment deductions
If you invested in business assets in 2017, you are entitled to the small-scale investment deduction. This deduction is valid for investments between €2.300 and €312.170. If you invested no more than €2.300, then, according to the experts, it may be wise to make an investment before the end of the year.

If the maximum amount is exceeded, it may be wise to postpone (part of) your investment to 2018. You may be eligible for this deduction again in 2018. Please note that not all investments are eligible for this.

If you have used an investment deduction in the past 5 years and you sell it within 5 years, please note that you will have to pay an additional tax. Another option is to postpone this divestment.

5. Use reinvestment reserve
If you made a reservation for a reinvestment for the sale of an asset in 2014, then according to the experts it is wise to make a reinvestment before the end of 2017. If you don't do this, this amount will fall into the company's profits and be taxed.

However, in certain special circumstances the period may be extended. You must then be able to demonstrate that there is an intention to reinvest at the end of 2017.

6. Deductible losses: don't let them evaporate
Check whether you have any deductible losses from the past that you could still offset now. Losses can be offset against the profits of the 3 previous years and the 9 following years. This term may be shortened to 6 years in the Rutte III cabinet.

7. No VAT on unpaid invoices
If you have sent invoices that have remained (partially) unpaid, you can reclaim the VAT paid. However, this is only possible if it has been definitively established that this amount will not be paid to you.

8. Repent
Do you have black money in a secret bank account? Turning back still pays off. Fine-free disclosure is no longer possible for a long time, but anyone who still reports black money in 2017 will get away with a fine of 120% of the tax due. As of January 1, 2018, this fine is 300%.

9. Avoid too much power in box 3
Do you have a large capital in box 3, where the fixed tax burden is high? Then you can reduce the tax burden by contributing assets from box 1 to, for example, a private company before January 2018, 3.

10. Avoid strike profits
Are you discontinuing a business in 2017? Then avoid an immediate settlement and convert the discontinuation profit into an annuity. This is still possible in 2018. The premium is then still deductible in 2017, provided it is paid before July 1, 2018.

11. Consider an old-age reserve
If you are younger than 1 years and 2017 months on January 65, 9, you can make a contribution to the old age reserve. This is only possible if the hours criterion is met in 2017. This allocation amounts to 2017% of your profit for 9,8, with a maximum of € 8.946.