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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.
When will I receive my excess tax?
The Danish Tax Agency will start paying out excess tax to your NemKonto from April 19, after any offsetting. Normally, the amounts will be deposited into your NemKonto in mid-April, but there may be cases where the Danish Tax Agency withholds the amount to investigate your or your spouse's debt.
What if I haven't received a payout date?
If you have debts to the government, the National Debt Management Agency can use your excess tax to reduce these debts. This is called offsetting.
When and how to offset?
The set-off takes place in a specific order, where debts collected by the public authority you owe money to are prioritized first. This is followed by debts for collection at the National Debt Collection Agency and then debts under collection registered with the National Debt Collection Agency.
Communication about offsetting
You will be informed directly by the Danish National Debt Agency if a set-off is made against your excess tax. If there is no basis for a set-off, the amount will be paid directly to your NemKonto.
What if I'm already paying off my debt?
Even if you are in the process of paying off your debt through an installment plan or similar, the National Debt Management Agency may still choose to offset your excess tax.
Contact options
If you have questions or concerns about offsetting or your debt, it is recommended that you contact the National Debt Management Agency directly for personalized guidance and assistance.
In some cases, your annual tax return may show that you owe tax, also known as tax arrears. Here's a guide on how to deal with this situation:
Why do I owe money back to SKAT?
There can be several reasons why you end up owing back taxes. This can include changes in interest expenses, employment deductions, mileage deductions, property value tax, changes in pension, gains on shares, and other situations that differ from your tax return.
When should the tax arrears be paid?
If you owe back taxes, it's important to be aware of the payment deadlines. For 2023, the deadline is July 1, 2024, for voluntary payment of tax arrears Various payment options, including Dankort and online banking, are available to make this payment.
What if I don't pay?
For tax arrears below a certain amount (e.g. DKK 22,503 in 2023) that are not paid by the deadline, the tax arrears will be included in your tax for the next year. Amounts above this will have to be paid in installments in the autumn.
Interest and percentage surcharges
Interest and percentage surcharges are added to the tax arrears if you do not pay by the payment deadline. After the deadline, a surcharge is applied, which in 2023 was 3.7%. So, for example, if you owed DKK 10,000, your tax arrears would increase to DKK 10,370 and you would receive DKK 864 less per month for the next year if you don't pay your tax arrears by the deadline.
Consequences of not paying tax arrears
If you don't pay your tax arrears on time, a surcharge will be added to your tax for the following year. This will result in a smaller deduction and thus a higher tax in that year.
Can I pay off my tax arrears?
If you are having difficulties paying your tax arrears, you can contact the Danish Tax Agency to explore the possibility of a payment agreement. This may be relevant if, for example, you owe a large amount of tax arrears that will be collected in installments.
It's important to take tax arrears seriously and act proactively to avoid further costs and consequences. By being aware of the relevant deadlines and payment options, you can effectively manage any tax arrears.
For the self-employed, the annual tax return involves some special considerations and obligations. It's important to be aware of these to ensure your tax affairs are handled correctly. Here are some key points worth noting:
Reporting the Company's Result
As a self-employed person, you must report your company's profit or loss for the income year 2023. This information is essential for an accurate calculation of your tax. The information must be reported no later than July 1, 2024.
The importance of accuracy
It is essential that the figures reported for your business are accurate and complete. Errors or missing information can lead to incorrect tax calculations and potentially result in tax arrears or other tax complications.
Deductions for the self-employed
There are various deductions that the self-employed can take advantage of, including operating expenses, home office expenses, mileage, and professional literature. Make sure to document and declare these deductions correctly in your annual tax return.
Payment of B-Skat
As a self-employed person, you are also responsible for paying B-tax based on an expected income. It's important to ensure that these payments are in line with your actual income to avoid tax arrears.
Advice and Assistance
Being self-employed often comes with complex tax issues. You may want to seek advice from an accountant or a tax advisor to ensure that all aspects of your taxes are handled correctly.
For the self-employed, it's especially important to be proactive and aware of tax-related deadlines and obligations. By being well-informed and prepared, you can avoid unnecessary mistakes and ensure your business complies with all relevant tax rules.
Closing.
In this blog post, we've covered the most important aspects of the 2023 annual tax return, including key dates, processes for receiving excess tax, dealing with tax arrears, and special considerations for the self-employed. It is our hope that this guide has given you a deeper understanding of how to navigate your annual tax return and how to best prepare.
If you need further assistance or have specific questions, it is recommended to contact a tax advisor or the Danish Tax Agency. They can offer personalized guidance and support tailored to your unique circumstances.
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.
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