1. Check the agreements with your partners
Have you and your partners made oral or written agreements? If you have a partnership agreement, this includes agreements on the distribution of profits and liability for losses and debts when the vof is dissolved. Partners will need to pay part of the debts and may get their share back in cash or in kind (such as products).
2. Dissolving the vof
In order to cancel your partnership, you must dissolve it. There is no notice period. It is wise, however, to lay down the conditions of the dissolution in a contract and to have it signed by all partners.
Dissolving a vof with outstanding debts
Are you forced to end your general partnership because your company is in debt? Investigate whether you qualify for . For temporary debts, you can first request a postponement ().
3. Check the financial consequences
When you end your general partnership, you and your partners draw up a (or have it drawn up). This is a final overview of the assets of your vof. The capital must be settled (vereffening) and divided.
Also pay attention to the following points:
4. Inform your staff and customers
Do you have staff? Tell them in time that you are going to end your business. This way your staff can look for different work in the meantime. Also check which contracts or agreements you have with customers and suppliers. Do this before you tell them you are ending your business.
5. Dismissing staff
There are rules that you must adhere to if you employ staff. If you , you must apply for a dismissal permit. You must also lay down agreements in a , such as a and job counseling. Also notify the Dutch tax authorities of the dismissal.
6. Deregister your general partnership from the Business Register
Deregister your vof from the Dutch Business Register. To deregister your general partnership, you must first dissolve it (see step 2). The Netherlands Chamber of Commerce KVK informs the Dutch Tax and Customs Administration about the termination. You will receive a letter from the Dutch tax authorities about the consequences for income tax and VAT. Do you want to apply for a benefit? Do this before deregistering (see step 3).
7. Submit your final VAT return
After the Dutch Tax and Customs Administration has been informed that your general partnership has been deregistered, all partners will receive a letter stating that you must submit a final .
8. Pay income tax
The Dutch Tax and Customs Administration will send you a letter confirming the deregistration from the Business Register and the tax settlement. Each partner must file a final .
9. Check what to cancel
Make sure you cancel contracts and insurance policies of your vof. For instance:
10. Keep your records
After ending your general partnership, you must keep business records for at least 7 years. You may also scan the records to keep them digitally.