In the event that you sell your business or otherwise cease to operate, final taxation of any retained profits in the account will be subject to final taxation.
This final taxation takes place immediately at the time when you cease to operate or sell your business.
However, taxation may be deferred to the subsequent income year or, under certain conditions, indefinitely.
If you ensure that you maintain the application of the company scheme until the end of the sale/termination year, you will be able to defer taxation until the following income year.
Maintain the corporate scheme
If, on the other hand, you seek to maintain the application of the business scheme until the end of the year following the sale/termination year and at the same time establish a new business before the end of the income year following the sale/termination year, you will be able to continue to apply the company scheme and thus defer the tax on cessation until you cease to operate at a later date.
Deferring taxation for one year or longer is conditional on your continuing business and maintaining a complete separation between business and private finances.
We do not accept responsibility for any dispositions that may be made on the basis of the above without prior individual advice. Likewise, we accept no responsibility for any errors and omissions.
Accounting- and taxconsultant
edj@skatteinform.dk