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Although most of us are busy decorating the Christmas tree and arranging the Christmas menu, for some it is still hard work in the final weeks of the year. With 2022 fast approaching its end, it is good to take stock and see if there are still things you need to take care of this year. Therefore, we have listed the most important tips and points of interest for you.
Possibly still invest in the purchase of business assets
You are entitled to the small-scale investment deduction (KIA) if you purchase business assets worth more than € 2,400 during the financial year. It may be interesting to possibly invest this year to take advantage of this deduction. The KIA percentage decreases as the total investment exceeds an amount of € 110,998. In that case, it may actually be interesting to postpone investments until 2023.
Check the amount of the provisional assessment
Check one last time whether the provisional assessment is in line with the taxable profit you expect for 2022. Adjust the provisional assessment no later than December 31 and avoid owing additional tax interest next year. If the provisional assessment is set far too high, reducing it results in an additional liquidity benefit.
Re-consider the fiscal unity
The corporate income tax rate is 15% up to a profit of €395,000. Next year, a rate of 19% will apply up to €200,000. Above these profits, the rate is 25.8%. So you will pay more tax in the first bracket in 2023. In addition, this bracket is a lot shorter and profits fall faster into the 25.8% rate.
If you own more than one PLC, you can offset profits and losses among yourselves through the fiscal unity. This advantage is offset by the disadvantage that you only benefit from the low rate bracket once. Although the tax benefit as of 2023 is a lot less than in 2022 (maximum € 13,600 as of 2023 versus € 42,660 in 2022), you may still want to reconsider the fiscal unity.
If you want to realize a breakup as of 2023, the request to do so must be received by the tax authorities before January 1, 2023. Do have an assessment made of whether the breakup of the fiscal unity does not have other undesirable tax consequences.
Use the free room in the WKR
The free margin for 2022 is 1.7% of the total wage bill. If you still have room in the free space, you can consider the possibility of giving a tax-friendly extra to your employee. Here you can think of a Christmas package, a drink or even a bonus.
Take advantage of the gift exemption for your own home this year
The so-called jubilee exemption will be reduced to € 28,947 as of January 1, 2023, and even abolished as of January 1, 2024. If you still want to take advantage of the high gift exemption in the context of your own home (2022: € 106,671), you still need to take action in 2022. The exemption applies to gifts to individuals between the ages of 18 and 40 and must be used for the purchase, maintenance and/or improvement of your own home or to pay off existing mortgages.
Use your annual allowance and reserve margin
If you have or plan to take out a bank savings product or an annuity policy, use your annual and reserve margin to save for your old age in a tax-friendly manner. Paying the premiums as late as 2022 can give you a tax advantage.
Optimize the composition of your assets in Box 3.
If you make planned private expenses still in 2022, you will pay up to a maximum of 1.97% of the amount paid less income tax in Box 3 in 2023.
This savings occurs provided the repayment is charged to assets other than bank and savings deposits. In the new regulations for box 3, bank and savings balances are hardly taxed, because a low notional return is used in comparison to that on 'other assets'.
With this knowledge in mind, you can also optimize the composition of your box 3 assets. Thing is, in a continuous three-month period beginning before and ending after the reference date (Jan. 1), shifting assets back and forth can be ignored by anti-abuse legislation.
Consider the periodic settlement clause
Are you married under a prenuptial agreement and does this agreement contain a so-called periodic settlement clause? Then settle at the end of this year. If you do not do this consistently it can be argued in a divorce that you are married in community of property.
Therefore, list the income and expenses to be settled at the end of the year and settle the difference. If necessary, immediately agree on the settlement in all previous years if you have not done so before.
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