Preliminary income assessment

1. Log on and change your business profits in your preliminary income assessment.

2. Register your business as having closed down: Until mid-September you can tick the field ‘Er du ophørt med virksomhed i år eller tidligere end i år?' (Did you close down your business this year or before this year?). After this time, you cannot tick this field until November when you receive your preliminary income assessment for the new year.

Tax accounts and tax return

You must prepare tax accounts for the year in which you close down your business, irrespective of what time of year the business was closed down. You must calculate gains or losses on the items you have removed from the business or sold to others, e.g. computers, inventories, furniture, vehicles and machinery (statement of gains and losses). If you sell properties, you must also calculate the gain or loss at the time of the sale of the properties.

You must state the gain or loss in your tax return. The deadline is no later than 1 July of the year after your business closes down. If you forget the deadline, you will be fined DKK 200 per day (however, up to a maximum of DKK 5,000).

Change your tax assessment notice/tax return and state your business profits and your financial information.

You must declare and pay VAT up to and including the date you stated as the date of discontinuation when deregistering your business at www.virk.dk. This also applies even if you have not sold any goods or services during the period (then you just write 0). A fee of DKK 800 will be charged if you forget to declare VAT.

Log on to E-tax for businesses (TastSelv Erhverv) and declare your VAT

Selling business assets individually

If you sell computers, inventories, furniture, buildings, vehicles, machinery or other assets of your business to other parties, you must charge VAT if you sell these assets separately.

If you sell the assets to another business which is registered for the same as your business, the other business must refund the VAT.

Sale of the entire business

If you sell the entire business to one buyer, the sale is exclusive of VAT, and you must calculate the total VAT transferred to the buyer. You must state the amount of VAT when you deregister your business at indberet.virk.dk.

Keeping assets from the business for yourself

If you keep assets from the business, you must repay any excess VAT deducted. This VAT is written off over a period of five years at 20% per year.

Even though you deregister your business, you still have to keep accounts and other relevant documents on file for a period of five to ten years after the discontinuation of the business.

Examples of what you must keep on file:

• delivery notes and time sheets
• ledger cards
• Z receipts
• records
• order ledgers
• production ledgers
• inventory counting lists

Real property

If you have purchased real property or renovated the buildings you used in connection with your business registered for VAT, you must keep the accounting records on file for ten years after the date of purchase of the real property or renovation of the buildings.

If and when you close your business, please note that your business NemID will be cancelled and as a result, you will no longer have access to your business digital mailbox.

Set up access to your digital mailbox

Remember to set up access to your business digital mailbox by means of your CPR no. (civil reg. no) and private NemID before you close down your business. Further information on what you need to do before you close down your business. (Link only available in Danish).

Use your private NemID or E-tax password

If, for example, you want to file a VAT return or make any other declaration after you have closed down your business, you can use your private NemID if you have a sole proprietorship or a personally owned small business.

If you cannot use your private NemID, you should use an E-tax password (TastSelv-kode)

Order an E-tax password here

If you need help, please call us on (+45) 72 38 04 00.

You will receive the password by post, and the processing time may be up to six days. As a result, please contact us well in advance to make the filing deadline.