VAT return tips and tricks for the fourth quarter

The fourth quarter VAT return is due again. It’s the last VAT return of 2023 and so with it, you close the VAT year. The deadline is 31 january 2024, which means you have to file the return by this day at the latest, and any payments must also be paid. Because this is the last return of the year, it also works a little differently than the other three returns. We provide some tips to ensure that you can complete the VAT return without any worries!

1. Check, check, double check

When doing this VAT return, it’s wise to check your entire 2023 return. Are the other returns correct and have you not accidentally entered something twice? Suppose there is an error in one of the earlier returns, a forgotten invoice or a case that was entered twice, for example, you can still correct it. You can include it in this fourth VAT return as long as the amount to be corrected is under €1000. If the amount is higher than this, you must report it via the VAT supplementary return. This is easy to find on the website of the Dutch tax authorities.

2. Don’t forget about your car

It happens often enough. You own a car that you use both for business and personal reasons, but you forget that there are costs deductible here on your VAT return! Just like expenses for business laptops and similar office items, you can also deduct (part of) the VAT for the car. Keep in mind, only the VAT for the business use of the car is deductible. You do have to pay the VAT for private use as usual. Don’t know how to calculate this difference? Feel free to contact us!

3. Invoices that were not (fully) paid

Unfortunately, it can happen that a customer doesn’t pay an invoice (in full). Customers are given one year to pay this. Of course, you’ve already had to pay VAT on this invoice before that time, which obviously makes the situation even more annoying. You haven’t received any money, but you’ve already had to pay VAT on it. Fortunately, the tax authorities also understand that this doesn’t work for independent entrepreneurs. When it’s certain that the client is not going to pay, you can reclaim your VAT (partially) on this fourth quarter VAT return.

We are happy to help!

Just to recap everything. Check not only if this latest return is accurate, but also if the previous ones are complete and correct. Remember that office supplies and the VAT for your car can be deductible, and reclaim VAT on invoices that should have been paid at least a year ago. Do you have any questions about specific tax issues or doubts? Let us know. Without a doubt, we can help! Fill in the contact form or call us at 020-217012.

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