Taxes - Boratech Administraties en Belastingzaken

10Jun

Legal Services

10 June 2022By admin0 comment

LEGAL ASSISTANCE

Why Legal Advice?

Entrepreneurs are keen to protect the trade and labor relations within their companies. Employees want fair deals and value for their efforts. The ambitions of one often intersect with the ambitions of another. Choose clarity. Pleasurable cooperation with customers, partners and employees does not have to clash with the fundamental principles. Everyone wants to get the most out of it, but should it be at the expense of others?

No, Boratech can help you to set down all the agreements, so that your ambitions can take shape. Will you still face a conflict or legal action? These can be very large cases that are being fought in front of a judge. These can include very small discussions about a clause in a contract. Both cases sometimes require legal expertise. Then we will use our accumulated network of specialised lawyers and notaries.

This is how we work

Boratech stands for a personal, practical approach. It is important to us that our services are comprehensible. We come quickly with clear and applicable advice, or directly involve the right professional to get clarity. So you know exactly what you can expect from us. Skilled, practical and at a favorable rate. In cooperation with lawyers, notaries and other colleagues, we offer a wide range of advice.

Legal Service Coverage

When it comes to legal services, you can think of:
Cohabitation Agreements;
Collaborative agreements;
Labor Agreements;
High-risk transactions;
Liabilities;
Business transfer;
Special International Relations;
Rental Agreements;
Termination agreements;
Long-term agreements;
Agreements between the Director and his company

Choose clarity

Boratech is not satisfied until you are. Would you like to get to know us better and see the legal possibilities in your case? Then schedulean appointment for an informal meeting.
For further information regarding legal services, please contact us.

09Jun

Business plan

9 June 2022By admin0 comment

BUSINESS PLAN

Business plan?

Making a good business plan is a lot of work, but it significantly increases your chances of success. This will give you an insight into the position, goals and feasibility of your company. It also gives the bank or other investors a good picture of your business.

What is a business plan?

A business plan describes in detail how you want to start your business. It is also called a company plan, business plan or entrepreneurial plan. Your business plan is a summary of all the parts of your business and what it will look like.

By making a good business plan, you investigate whether your idea is feasible in practice. And whether it is wise to become an entrepreneur. Every year, more than 100,000 Dutch people start their own business. Half of them quit within two years.

Why write a business plan?

For starting entrepreneurs who need financing, it is necessary to write a business plan. Writing a business plan is important even if you do not have an immediate need for financing. It gives you an insight into the viability of your business.

Is a business plan mandatory?

Drawing up a business plan is not compulsory. If you need start-up capital for your business and reach out to the bank or investor, you will have to write a business plan. Without a well-founded financial plan, you will not qualify for any financing whatsoever.

How do I make a business plan?

There are several freebusiness plan examples that you can use to draw up your own business plan. It then explains, step by step, how to put together a business plan. But is it easy? Everything but! Sometimes the terms are so complicated and the explanations so concise that it is difficult to work them out yourself.

Writing a business plan

We offer various toolsto help you do this. Think of examples, fill-in-the-blank templateslike the business plan template or guidanceon writing a business plan.

Boratech can compile a good business plan for you. You can get on with that. Together, we can shape your ideas and provide insights into its content. If you would like a suitable offer, please contact us here.

09Jun

Legalisation and translation services

9 June 2022By admin0 comment

LEGALISATION AND TRANSLATION SERVICES

Why legalise and translate?

Various legal documents that we see every day often also need to be legalised. These documents can then first be translated by one of our sworn translators, after which both the source text and the translation are forwarded to the Ministry of Justice, Foreign Affairs or the Courtfor legalisation. This depends on where the translator in question is registered as a representative of the country for which the document is ultimately intended, often an embassy or consulate.

Legalisation of documents

Legalisation is making an official document suitable for use in another country. For example, a birth certificate, marriage certificate or unmarried certificate. Legalisation involves checking whether your document has been issued by the right organisation. Legalisationis done with a stamp or sticker. Afterwards, your document is ready for use in the Netherlands. Legalisation can take a long time. So start on time.

Translating documents

As a final step, it is possible to have the legalised document translated.

Is your document not in Dutch, English, French or German? Then you should have it translated into one of these languages. You can have the document translated in the Netherlands or abroad.

Then the legalisation stamp for translation should not be overlooked. For fees for our legalisation services, please contactone of our employees.

Outsourcing

Boratech will be able to provide the translation and legalisation of your documents as an additional part of our service offering. In general, only the hourly rate is charged. If you would like a suitable offer, please contact us here.

09Jun

Child benefits

9 June 2022By admin0 comment

CHILD BENEFIT: AM I ENTITLED TO?

Child benefit, what is it?

If you live or work in the Netherlands and you are younger than 18, your parents will receive child benefit. With the child benefit, the government contributes to the costs associated with raising a child. The Social Insurance Bank (SVB) pays the child benefit.
Working students aged 16 and 17, who still live at home and earn less than €1,240 net per quarter, are also still eligible for child benefit. For more information, you can consult the website of the Social Insurance Bank or contact the Social Insurance Bank in your area.

Child benefit: How can I apply?

If you or your partner declare your newbornbaby at the town hall, the Social Insurance Bank (SVB), the organization that makes the payment, will automatically be notified. About two to four weeks after the birth of your baby you will receive a letter with instructions to apply for child benefit online with your DigiD. If you haven’t received it yet, you can do so here.

If you have had a second or subsequent child, you do not need to do anything. Then the amount will be automatically adjusted and you will be paid a higher amount in the next quarter that you were entitled to it.

Read more about child benefit for a second or third child here.

Child benefit 2022

The amount of child benefit is independent of your income. Actually, everyone receives the same amount, which depends on the age of your child. The amount will increase when your child turns six. There is another increase when your child turns twelve. Child benefit stops when your child turns eighteen or becomes entitled to student finance. The amount is paid quarterly by the SVB.

The amounts per child from 1 January 2022 are as follows:

0 to 5 years: 230.69 euros per quarter
Ages 6 to 11: 280.13 euros per quarter
Ages 12 to 17: 329.56 euros per quarter

The Consumers’ Association has calculated these amounts on the basis of the Budget Day documents. De precieze bedragen worden op 1 januari en 1 juli geïndexeerd door de SVB.

The SVB transfers the child benefit to your account four times a year, at the end of each quarter (in January, April, July and October). In other words: you will receive child benefit for the first time after a full quarter. If your child is born somewhere in the middle of a quarter, you will unfortunately not receive anything at the next payment moment. You pay no tax on the child benefit.

Payment days

The paydays in 2022 are:

January 3, 2022: child benefit for the fourth quarter of 2021
April 1, 2022: child benefit for the first quarter of 2022
July 1, 2022: child benefit for the second quarter of 2022
October 1, 2022: child benefit for the third quarter of 2022
January 2, 2023: child benefit for the fourth quarter of 2022

Your bank will deposit the money into your account on the same day. But it differs per bank at what time of the day this is exactly.

When does the child benefit stop?

When your child turns eighteen, the child benefit will expire in the new quarter. Also as soon as a child receives a student grant, the child benefit will be stopped in the next quarter. If, nevertheless, student grants and child benefits have been received at the same time, because, for example, the study has not been passed on, the child benefits will be reclaimed.

Boratech will be able to request child benefit as part of the subscription package at your request. There are no additional costs involved.

If you would like more information, you can leave your details in the main menu via CONTACT.

08Jun

Request VAT Number

8 June 2022By admin0 comment

REQUEST VAT NUMBER

VAT number, what is that?

A VAT number or VAT identification number is a unique number for your company. You can apply for it by registering with the Chamber of Commerce. You can also request a VAT number from your accountant. Since January 1, 2020, sole proprietorships have a new VAT identification number from the Tax Authorities . This new number is no longer linked to the citizen service number (BSN). The numbers have been changed due to privacy protection and identity theft.

The Tax Authorities will also give you a different VAT number if you are registered as an entrepreneur for turnover tax (VAT).

VAT number on invoice

It is mandatory to put the VAT number on your invoices. Your customers can then check it and vice versa you can do that with your customers.

Construction of a VAT number

A VAT number has a fixed structure. First of all, the country code NL for the Netherlands. Then 9 digits for the RSIN/tax number or citizen service number. And finally the letter B and a two-digit check digit.

Example of a VAT number
An example in the Netherlands is:
NL001234567B01

Difference from other registrational numbers

As an entrepreneur you have to deal with many different numbers. Go crazy with different ID numbers? This is the difference between all other numbers:

Citizen service number
Everyone who is registered with the Municipal Personal Records Database (BRP) receives a citizen service number or BSN. In the past, this was the social security number.

Just like for VAT, this is a unique number, but the difference is that a citizen service number (BSN) is linked to a natural person.

RSIN or tax number
The abbreviation RSIN stands for Legal Entities and Partnerships Information Number. As the name implies, it is a number for legal entities and partnerships. Examples of this are private limited companies, associations, foundations, general partnerships and partnerships. The identification number is personal and neutral and it is recorded in a database of the National Tax Authorities.

In the past this was the tax number. This old name is sometimes still used. The reason that the tax number has been entered has to do with the fact that it makes automated processing of payroll tax data possible for the National Tax Authorities. This prevents errors and saves a lot of time.

VAT identification number
This is just another name. So there is no difference.

Check VAT number

You can check a company’s VAT number in two ways, depending on the country:

Check VAT number in the Netherlands
Do you want to check a customer’s Dutch VAT number? Then you can do this via VIES , a website of the European Commission.

Check VAT number in Europe
If you want to check a VAT number from another EU member state, read the explanation from the tax authorities first.

Boratech can help you to apply for a VAT number at your request, as part of the subscription package. There are no additional costs involved.

If you would like more information, you can leave your details in the main menu via CONTACT.

08Jun

Child budget

8 June 2022By admin0 comment

CHILD BUDGET (KGB)

What is child support budget?

Child budget is a contribution to the costs for your children up to the age of 18.
To inquire about childcare, please fill out the following form:

Child benefit inquiry form

You can get it, if you and your benefits partner meet certain requirements:

One or more of your children are under the age of 18.
You receive child benefit from the Social Insurance Bank (SVB).
Your (joint) income is not too high. How high it may be depends on the composition of your family. Make a sample estimate to see if you can get child support.
Possess Dutch nationality or reside legally in the Netherlands.
The (joint) family wealth is not too high.
If you are entitled to a child budget, you will usually be notified automatically by the Tax Administration (Belastingdienst Toeslagen).

Do you receive child support and is your joint income with your partner not too high? Then you may receive a child budget from the tax authorities. This is an extra contribution for families with children. This is paid every month.

More child budget for single parents

Are you a single parent? Then you get more child support than families with 2 parents. This extra amount is a living allowance. You can see how much you get by doing a trial estimate.

The child budget starts after the birth of your child. From the first day of the following month.

Increase in benefit for children over 12 years of age

Does your child turn 12 or 16? Then you’ll get more child support. This extra amount is a contribution to the school costs. The increase takes effect after the month your child turns 12 or 16 and depends on the value of your income.

Make a trial calculation to see how much you get.

Foreign allowances also count

Do you or your partner live abroad? Then the tax authorities will calculate how much child budget you are eligible to receive. It considers the Dutch benefits you already receive, and foreign allowances for your family (family benefits). Think of child benefit and foreign variants thereof. Per child, you will never receive more than the highest amount of family benefits to which you are entitled. The tax authorities apply the Dutch rules and the rules of the country in which you live.

You need a Citizen's Service Number

If you or your partner live abroad? To apply for child budget, you both need a Citizen’s Service Number (BSN). Read more about this at Burgerservicenummer if you, your partner or your child live outside the Netherlands.

Payout

You will usually receive the child budget from the tax authorities. But sometimes the SVB pays the allowance. The SVB looks at all family benefits that you already receive. How much you get depends on your situation. After each year you will receive a final calculation from the tax authorities. Did you get too much or too little? Then it will be recalculated.

Boratech can, at your request, apply for the allowances to which you are entitled as part of the subscription package. There are no additional costs involved.

If you want more information, you can leave your details in the main menu via CONTACT.

06Jun

Trade name research

6 June 2022By admin0 comment

TRADE NAME RESEARCH

When you start a new business, you need to come up with a trade name (company name). This name must meet the requirements of the Trade Names Act. In short, you need to choose a name that is unique in the industry and region in which you operate. You provide the trade name to the Tax Authorities (BD) and the Chamber of Commerce (KvK) when you register. Boratech can conduct a nationwide trade name research at your request. This research not only looks at names that are written the same, but also at trade names that sound the same.

With a catchy company name, your company is immediately on the map. A name like that sticks and attracts customers. That is why it is important to come up with a good company name. Your name must also comply with a number of rules.

Boratech will be able to perform a trade name search for you at your request, as part of the subscription package. There are no additional costs involved.

If you would like more information, you can leave your details in the main menu via CONTACT.

06Jun

Income tax return

6 June 2022By admin0 comment

Income tax return

Taking care of your income tax return at our office works as follows:

When you have collected all the necessary data, you can bring it to us. If this is not possible for you, we can of course also collect it from your home.

Your data will then be processed at our office. After processing, you will receive a letter from us with a calculation of the tax amounts due or to be received, as well as a printout of the (profit) return to be submitted and authorized.

When you agree with the declaration to be submitted, return the signed authorization to us. We then ensure that the return is sent electronically to the tax authorities.

When you receive the assessment from the Tax Authorities, we will ask you for a copy of this assessment for checking. We use a fixed price for the Income Tax return for customers without a subscription.

If you would like more information, you can leave your details in the main menu via CONTACT. We will then contact you as soon as possible.

06Jun

Turnover Tax Declaration

6 June 2022By admin0 comment

TURNOVER TAX DECLARATION

VAT (sales tax)

Sales tax is an indirect tax imposed by a government on the sale of products or services. Are you an entrepreneur, independently practicing a business or profession? Then you usually pay VAT (sales tax) on your sales. The legal form (e.g., bv or nv) is not important for paying VAT. A foundation or association also pays VAT if the tax authorities consider it a business. You do not pay VAT if you only perform exempt work or use the small business scheme (KOR).

When are you an entrepreneur for VAT purposes?

The tax authorities do not automatically consider you to be an entrepreneur for VAT purposes. The conditions for VAT are different than for income tax. Thus, you may be an entrepreneur for VAT purposes, but not for income tax purposes. Are you an entrepreneur for VAT purposes? Then you will get a sales tax number and a VAT identification number (VAT ID). You are required to put your VAT identification number on your invoices. You should also keep a record of all invoices sent and received.

VAT declaration

You have been required to file your VAT return digitally since 2012. Did you declare too much or too little VAT this year or over the past 5 years? Then you must correct your VAT return.
You can choose to send in your tax return via the Tax Administration’s website or with special tax return software. On the site of the tax authorities you can read how to fill in and send in your VAT declaration. It is possible, under certain conditions, to offset a VAT refund against a payroll tax return.

When do I need to file VAT returns?

The rules for filing a tax return are set by the Tax Administration:
If you file a quarterly or monthly return, you must file your return no later than the last day of the next month following the filing period
Do you file a tax return per year? Then file your tax return before April 1 of the next year.

It is important to file a tax return on time. If you do this too late, you will receive an additional assessment and may have to pay a fine to the tax authorities.

VAT when outsourcing work (reverse charge)

Are you outsourcing work to another entrepreneur? If so, it must pay the VAT for this to the tax authorities. In some cases, a reverse charge mechanism applies. The VAT will then be “shifted” to you. That means you have to declare and pay the VAT yourself. The entrepreneur indicates this on the invoice.

No VAT with the small entrepreneurs scheme (KOR)

Does your business have a turnover of up to €20,000 per year? If so, you may be able to take advantage of the small business rule (KOR). If you use the KOR, you do not charge VAT to your customers. In addition, you no longer file a VAT return, with a few exceptions. Participating in the KOR also means that you cannot deduct VAT on business expenses and investments.

VAT on goods and services to foreign countries

Do you supply goods or services abroad that are not exempt from VAT? Then different rules apply, depending on the country where your customer is located and your turnover. You calculate the Dutch or foreign VAT. And you must file VAT returns in the Netherlands or abroad. Use the Goods Abroad and Services in and out of the country tools to determine what you need to do for VAT.

Paying or reclaiming VAT

After you have completed the return, you will see in your return the amount of VAT you have to pay or that you will get back. You will not receive an assessment, but you must transfer the VAT amount to tax authorities yourself. With us you get a clear overview sent by mail which shows in the easiest way where, how and how much to pay. It’s a piece of cake.

Not clear enough?

If you do have any questions or concerns, or would like to know more, click here to book an appointment with us. If you would like to get in touch, or if you would like to file your sales tax return with us, we are of course ready to assist you.