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What happens if you don't correct your tax return?

Aske Buemann

CEO & Co-founder

The consequences of not correcting your withholding tax return

There are several good reasons to keep track of your tax return. If your tax return is not updated, you may experience the following:

1. Too high or too low tax:
If you don't correct your tax return, you may end up paying either too much or too little tax during the year. If you overpay, you will find that your monthly income is lower than necessary as you are overpaying tax. Conversely, if you pay too little, you could end up with a nasty tax bill at the end of the year.

2. Interest and fees: If you underpay your taxes and end up with a tax bill, you may also be charged interest and fees on the amount owed. This can quickly become an expensive affair and an unpleasant surprise.

3. Loss of deductions and financial benefit: If you have changes in your financial situation, such as marriage, divorce, children or buying a house, it can affect your tax situation. By not updating your tax return, you risk missing out on potential deductions and financial benefits that could have been available to you.

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3 tips for getting your tax return in order

1. Check your tax return regularly
The first step towards avoiding problems with your tax return is to check it regularly. Whenever there are changes in your financial situation, such as marriage, divorce, or changes in income, you should update your tax return immediately. This ensures that your tax deductions are up to date.

2. Get help
There are a number of online tools and resources available to help you calculate your taxes correctly. You may also consider consulting a tax advisor or accountant, especially if your financial situation is complex. They can provide you with professional guidance and ensure your tax return is accurate. You can also make use of TaxHelper+. TaxHelper+ updates your tax return monthly for you without you having to do anything yourself. This means that you will receive an average of DKK 4,006 extra this year.

3. Don't do nothing
There are continuous changes in life that affect your tax deductions or income. Make sure you keep track of your tax return on a regular basis. By being aware of the tax rules and their impact on your finances, you can avoid unpleasant surprises later on, such as a tax break. It's important to be proactive and ensure that your tax situation is properly updated.

See if you can get a tax refund in just 15 minutes.

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.

Start here

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