Check the corona measures by the Dutch government
Most corona support measures have ended, but there are still some in place.
See which schemes are still available.
Tax and Customs Administration corona measures
If you got a special payment extension for taxes, you have to start paying the outstanding taxes from 1 October 2022. If this proves difficult for you, you may come to a repayment arrangement with the Dutch Tax Administration.
TOA: Time-Out Arrangement
The government has set up a collection of measures aimed at helping businesses that are in danger of going bankrupt. The Time-Out Arrangement, or TOA, offers help, credits and advice for businesses that are at heart sound, but going through difficulties. So far, two measures are in place under the TOA umbrella:
WHOA: avoid bankruptcy
Business is not going well. You have many debts, and you or your creditors are thinking about filing for bankruptcy. There may be something you can do to prevent that. If you and your creditors can reach an agreement for settling your debts, you can make use of the new Court Approval of a Private Composition (Prevention of Insolvency) Act (WHOA). The WHOA allows you to reach a binding agreement with your creditors, ratified by court, that they as well as you must honour. Even if not all your creditors agree. By making use of the WHOA, you may be able to save your business.
Re-launch credit for SMEs
Businesses that are making use of the WHOA to reach payment agreements with their creditors can make use of the Re-launch credit for SMEs. Businesses can apply for this credit up to 31 May 2024. Qredits extends credits of up to €100,000 to SMEs to help them get their business going again after they have either had to close due to the corona measures, or have had a significant loss in turnover. Qredits also offers advice to companies making use of the arrangement. Read more about the Re-launch credit for SMEs.
Ending your business: the most important steps
If there are no ways left to save your business, you can choose to end your business.
Keep your administration up-to-date
It is important to keep your administration up-to-date to gain quick and clear insight into your current financial situation. Also provide an report with expected turnover and sales of the coming year.
Here are the 10 most important steps to end your business:
- Inform your customers and suppliers that you are going to end your business.
- Apply for a dismissal permit if you have personnel.
- Check whether you are eligible for discontinuation relief.
- Check whether you are entitled to benefits such as the Financial support for self-employed professionals (Bbz) or Older and Partially Disabled Self-Employed Income Support (IOAZ).
- Deregister from the Dutch Business Register.
- Verify that your VAT ID and VAT tax number have been discontinued.
- Submit a final VAT return.
- Cancel your business insurance and subscriptions.
- Cancel the domain name of your website.
- Keep your business records.
Read more about ending your business.
Apply for debt restructuring
If you can no longer pay your debts, you can request debt restructuring. There are 2 types of debt restructuring:
- an amicable settlement (a voluntary payment scheme)
- the legal procedure Wsnp (the Debt Restructuring for natural persons Act) which follows if an amicable settlement fails.
Filing for bankruptcy
Can you no longer pay off your debts? Then the court may declare you bankrupt. Read how you can file for bankruptcy and more on bankruptcy procedure.
Contact the KVK Financing Desk
Would you like advice about your personal situation? Contact the KVK Financing Desk and you will be directed to an advisor.