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Understanding the Danish tax system can be difficult. An important part of it is understanding what an advance statement is and how it works.
In November 2023, the Danish Tax Agency opened access to the tax assessment for 2024. Are you sure that your tax assessment is set correctly?
A study from TaxHelper finds that Danes on average have set their interest rates 50% incorrectly. This applies to consumer loans, mortgages, car loans and student loans. And it's not just interest rates that can be wrong. The same study finds that Danes on average have their income set 10% incorrectly, so if, for example, you earn DKK 500,000 a year, it is DKK 50,000 too high or low.
In this blog post, we will explore this very topic and give you three tips to get your tax return in order.
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.
What is an advance payment statement?
A withholding tax statement is an overview of how much tax you have to pay during the year. This statement is the basis for how much tax you pay each month. It is based on your expected income and deductions for the coming year and helps the Danish Tax Agency estimate your taxable income.
How does an advance statement work?
The withholding tax return provides an estimate of your finances for the coming year. When filling out your tax return, you need to list your expected income and expenses, including salary, interest income, and any deductions you are entitled to. Our best advice for your 2024 tax return is to be proactive and keep your information up to date
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.
Getting to grips with your tax return requires a little time and attention, but it can pay off in the form of a smoother tax process and potential savings. By following these three tips, you can increase your understanding of your tax return.
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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