There are many possible reasons you may have for ending your business. There are also some obligations you need to fulfil. Use this 10-step checklist to find out what you need to do.
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This checklist serves merely as a guideline. You may need to fulfil other obligations as well. Several steps can be carried out at the same time. Please note: This checklist is not meant for entrepreneurs who change their legal structure. Also, if you want to sell or transfer your business or if your business goes bankrupt, different rules apply.
1. Inform your clients and suppliersContact your clients and suppliers. Make sure to check the agreements you have with them before informing them.
2. Dismiss your staffIf you employ staff, you must terminate their employment contracts. You require a dismissal permit from the Employee Insurance Agency (UWV). Do you still owe your employees wages, but cannot pay them due to insolvency? Having a dismissal permit will allow you to transmit part of your paying obligations to the UWV. Your employees can claim insolvency benefit from the UWV. You must notify the Dutch Tax and Customs Administration about dismissing your employees.
3. Check whether you are eligible for business discontinuation reliefIf you end your business, you may be eligible for discontinuation relief (stakingsaftrek). If you use this facility, you will pay less tax on profits on suspension of business.
4. Check whether you are eligible for benefitsAre you a self-employed professional and do you wish to cease trading? You may be eligible for financial support from your municipality. There are two options:
- the Self-Employed Persons (Provision of Assistance) Decree (Besluit bijstandverlening zelfstandigen, Bbz);
- the Older and Partially Disabled (Formerly Self-Employed) Persons Income Support (Inkomensvoorziening oudere en gedeeltelijk arbeidsongeschikte zelfstandigen, IOAZ).
5. Deregister from the Dutch Commercial RegisterYou must deregister from the Dutch Commercial Register. You can send the deregistration form to the Netherlands Chamber of Commerce (KVK) or hand it in personally.
6. Submit a final VAT returnKVK will pass on your notification of deregistration to the Dutch Tax and Customs Administration. You therefore do not have to deregister separately from their registers. Are you an entrepreneur according to the Dutch Tax and Customs Administration? Then they will send you a letter. If you have to make a final calculation and submit a final VAT return, it will say so in this letter.
7. Settle matters fiscallyYou have to draw up a final balance sheet and settle with the Dutch Tax and Customs Administration fiscally. You must send in final tax returns with regard to all relevant taxes, such as for example income tax. If you have built up a retirement reserve, you must settle this with your income tax. If you withdraw goods from your business for private use, you must pay VAT on these goods.
8. Cancel contracts, permits and business insurancesRemember to cancel your business insurances, permits, telephone numbers and subscriptions and to terminate running contracts, for example, for office space.
9. Discontinue using the domain name of your websiteContact your domain name registrar to discontinue use of the domain name(s) you have registered. The registrar will pass on the change to the Foundation for Internet Domain Registration in the Netherlands (SIDN).
10. Keep your business administrationAfter your business has ended, you must keep your administration for at least another 7 years. You may save your paper administration digitally.
Statistics: business closures
Number of business closures