This newsletter contains detailed information about your tax return(s) for the year 2023, answering questions about deferral, documentation, rates, deductions and our tips for ensuring that we receive the right information from you, in the right form. In our point of view your tax return is a good starting point for a complete financial advice. We will take an accurate look to your financial products. In this way your tax return can lead to easy savings!
The process in 6 steps (explanation is below);
- We request a deferral for you;
- We request a VIA code for you – you must forward the code(s) to us;
- Then we ask you to submit any documentation we need;
- The codes will be activated and the documents will be registered. We will then schedule in the tax return;
- Once the tax return forms have been completed, these will be sent to you for your approval;
- After the returns have been filed, you can usually expect to receive the tax assessment within 3 months.
Please read this newsletter carefully. As in previous years, we remain committed to providing you with financial security.
Tax advice
A personal meeting to discuss changes in your personal and professional circumstances
Preparing your income tax returns is an excellent opportunity for you and your Poundwise advisor to take the time to reflect on your personal and financial affairs. Any changes in your professional or personal life this past year, or those that you may be expecting for the coming year, can impact your income tax returns, but also your other ongoing financial products. We look forward to scheduling a personal meeting with you to discuss your financial affairs. So that we can keep your financial house in order. To plan an appointment, please contact: secretariaat@poundwise.nl, or call: +31(0)20-3057555.
Timely, accurate and complete delivery of information
You are kindly requested to provide us with the necessary information for your tax return 2023 in the prescribed manner. Timely and accurate delivery can lead to significant savings for you, and will in all cases prevent unnecessary additional expenses. We have provided more information below.
Deferral
Poundwise will apply for deferral for all its tax advice clients. The tax authorities will not confirm this with you. In the unlikely event that the tax authorities send you a reminder to file your tax return(s), please contact one of our advisors immediately. Without deferral, tax returns must be filed before May 1, 2024, and if deferral is granted the due date is exactly 1 year later.
Poundwise serves a large number of clients for whom we draft and file tax returns, which is why we spread the work out over the deferral period. Some of our clients prefer to file their returns as quickly as possible, others want to postpone as long as possible. Poundwise will always make an effort to take your personal preferences into account.
Delivery
You can send us your documents by email: belastingaangiften@poundwise.nl.
We prefer to receive all documents in a single email (where possible).
Of course, you do not need to send us documents that you have already provided. On our website you can find a document listing all necessary information and documents. Click here for the Income Tax checklist 2023.
Rate for private tax returns
If you have a Comfort subscription with us, the costs for drafting your tax return(s) is/are included in your monthly subscription charges (you are entitled to one return per full calendar year). For more information about our service subscriptions, please contact us. If you have not yet subscribed, the costs for a tax return for 1 person amount to € 445, and if we can combine that return with that of your fiscal partner, the costs for both these returns will amount to € 545 (for a conventional tax return for domestic private persons, not including additional work).
These costs presume that the documents will be delivered to us in full and in one email, and that you will provide immediate approval for the filing of the return. This rate does not include charges for additional investigations, reviews, extra reminders or further fiscal work. Such additional work will be charged at the hourly rate of the advisor in question. If you would like to have an advance quote, please let us know. Applicable rates for entrepreneurs and migration forms are not the same as those given above. Should you have any questions about these rates, please contact one of our tax advisors, tel: +31(0)20-3057555.
Deductions
For the year 2023, there are several deductions that apply under specific conditions, for example costs for mortgage interest. These deductions are listed on page 5 of the tax return form checklist 2023.
We recommend that you check this list and provide us with the documents relevant to your situation. Should you have any relevant documents that are not mentioned on this list, we kindly request that you also send these to us.
Under specific conditions, certain expenses may also be deducted as personal deductions.
Personal deductions amount to the total of:
- Partner alimony
- Expenses for pension settlement
- Expenses for specific health care expenses
- Expenses for temporary accommodation at home of seriously handicapped persons
- Education expenses (only in very specific situations)
- Donations
- Remainder of personal deductions from the previous years
For your information, we note that as of 2023, study or other training expenses are in principle no longer deductible, unless the performance scholarship has not been converted into a gift.
In addition to these personal deductions, there are also other potential deductions (e.g. public transportation commute expenses / life annuities etc.). These costs can be deducted from the income for which the costs are incurred. You cannot deduct all costs – sometimes specific costs are not deductible, or the deduction is limited. If you are not sure whether certain expenses are deductible, please send us a specification of these costs along with your other documents.
Tax return processing
When we have completed your tax return(s), we will send this/these to you via email. Upon your request, we can schedule an appointment at our office to discuss the tax returns, in some cases we will ask you to meet with us. You are kindly requested to approve the tax return(s) as soon as possible following receipt. When we have received your approval, we will file the tax return(s) with the tax authorities.
Once the return(s) has/have been filed, the tax authorities will need approximately 3 months to issue the final assessment. Poundwise has no control over the processing time of tax return(s) by tax authorities..
Provisional assessments/ refunds
A provisional assessment is a document describing how much tax is due or how much you will receive. This amount is based on a provisional calculation. You cannot derive any rights from this provisional assessment.
Should you have forgotten to list a deduction in the past, Poundwise can always submit a request with the tax authorities to still grant the deduction. This is not a guarantee, but it is often worth the effort!
Taxes due: If you make a profit or if you receive income from multiple sources or asset components, it is likely that you will have to pay taxes. You can choose to pay taxes in advance. We can change, cancel or apply for the provisional tax payment for 2023/2024. Please realize that there are costs associated with this service (unless you have a service subscription).
Interest
The assessment also lists any tax interest due or receivable. If you are entitled to payment from the tax authorities, in specific cases you will also receive interest. However, in most cases you will not receive interest. Do you have to pay an amount? Then you will pay interest. Tax interest is not a penalty.
Tax interest will only be calculated following the end of the tax year. This means that no interest is calculated during the course of the year. The period for which the interest is calculated spans from July 1, 2024 until the date given on the assessment.
Electronic copy assessments (EKA)/ Service messages assessments (SBA)
Poundwise will only receive digital copies of assessments from the tax authorities if an active EKA/SBA request for those assessments is in place. We do not receive copies of any other assessments. The tax authorities will send you a letter to confirm that digital copies are sent to our office. It is your decision whether or not to agree. You will receive a letter every year to remind you that copies of your assessments are forwarded to us. You may retract your authorization at all times. If you are unsure whether an assessment is correct, or if you are uncertain about what action to take, please contact our office.
Information from the tax authorities
We can request a pre-completed tax return form (VIA) from the tax authorities. We will check and, where necessary, complete or amend this information. Despite the VIA, we may still need information from you. The tax authorities will send you an activation code that Poundwise can use to activate the registration (this authorization is valid only for 1 year and one specific client). You are kindly requested to share this code with Poundwise. Please send it to us by email to: belastingaangiften@poundwise.nl (referencing your full name or BSN number). You may retract your authorization at any time.
We look forward to receiving your documents!
If you have any further questions, please call us at: .+31(0)20-3057555.
Get acquainted?
Daphne Alon
Tax advisor/financial planner
