You operate your company as a partnership, limited partnership company, sole trader, or you have invested in, for example, property for your children or a limited partnership stake. In that case, you are deemed to be a self-employed business-owner.
Self-employed business-owners can choose to use the corporate tax scheme that allows you to:
- Deduct interest expenses from personal income (higher deductible value)
- Get part of the company’s income taxed as capital income
- Defer part of the tax payment in the form of savings in the company
- Apply the rules of succession to a spouse and children
When using the corporate tax scheme, you must keep track of a number of tax statements. We assist more than 1000 clients with the preparation of personal income and wealth statements containing specifications for the corporate tax scheme.
It is essential to optimise the tax payment that you have an overview of deposits and withdrawals for the corporate tax scheme. At Baker Tilly we want to be in close dialogue with our clients to ensure the most optimal tax payments.
Savings in the corporate tax scheme are in our opinion a good supplement to pension savings and savings in corporate form - especially when one considers that the application possibilities in the corporate tax scheme are many, for example, investment in property for your children, accumulative unit trusts, bonds and limited partnership shares.
In our long-term advice, we focus on the assessment of options for the transfer of the corporate tax system with succession to spouses and children.
If you have questions about your specific situation, please contact our specialists.