Changes in life happen all the time. It could be a new job opportunity, starting a self-employed business or moving into a new home. Whatever the reason, such changes can affect your taxes. That's why it's important to keep your withholding tax statement up to date so that you don't pay too much or too little tax. But what is an advance statement and how do you use it to record changes in your life?
An advance tax assessment is a calculation of how much tax you will have to pay during the year and is a budget prepared by SKAT based on the previous year. It is based on the income you are expected to receive in that year and the deductions you are entitled to. It is important to remember that an advance tax assessment is only a calculation and that the actual amount of tax you will have to pay may differ depending on how your financial situation changes during the year.
Is an advance statement the same as an annual statement?
No, an advance statement is different from an annual statement. An advance statement is a statement of your expected tax payment during the year, while an annual statement is a statement of your actual tax payment for the whole year.
The annual statement is generated by the Tax Administration the following year and shows whether you are due a tax refund or whether you have to pay tax arrears. The annual statement takes into account all the changes that have occurred during the year and shows whether you have paid the correct amount of tax during the year.
It only takes 15 minutes to try TaxHelper and you'll get an average of DKK 2,704 extra back in tax
At the same time, you only pay if you get a tax saving.
There are a number of situations where you may need to make changes to your tax return. Here are some of the most common ones:
Remember that it is important to keep your tax return up to date if there are changes in your life that may affect your taxes. If you don't, you risk paying too much or too little tax, which can have consequences for your finances. If you pay too little tax, you may have a tax penalty that you will have to pay back later. On the other hand, if you pay too much tax, you miss out on money that would otherwise have been paid to you during the year.
Changing your withholding tax statement can help you make sure you are paying the correct amount of tax. It can also give you a better overview of your finances and help you plan your budget.
Then TaxHelper+ could be for you! TaxHelper+ works as follows:
Our more than 1,000 members have already received an average of DKK 4,006 more this year.
You can change your withholding tax return by logging in to TastSelv on the Tax Agency's website. Here you can view your current withholding tax statement and change it if necessary. Here are the steps to change your withholding tax return:
Remember that you can change your tax return as many times as you need to during the year, so you can adjust it as your life changes.
In TaxHelper, we help you find the deductions you're entitled to. You answer a few simple questions that take just 15 minutes to complete.
Then we report the deductions, and you get an extra DKK 2,704 back in tax. At the same time, you only pay if you get a tax saving.