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You forgot the VAT, what happens now?

This can happen to many people, especially when you are a business owner acting as an octopus with all the different tasks that are involved.  

However, there is a solution to this and we're going to tell you a lot more about it now.

What happens when you forget to submit a VAT ?

You must always report VAT on time, otherwise you will be charged around DKK 800 in fees. SKAT will then make an estimate of your

turnover and the VAT due. The estimate made by SKAT can end up being expensive for you, as they usually assume a high turnover.

Should this error occur four times in a row, you could lose your VAT registration in the worst case. The delay in reporting may be because

you need money and want to apply for an interest-free VAT loan. Therefore, you should pay particular attention to reporting on time, as you

cannot get an interest-free VAT loan if your reports have not been on time.

How to solve this problem?

Fortunately, this can be resolved, but you can't escape the approximately DKK 800 you've been charged for late reporting.

You always have the option of contacting SKAT directly. You can tell them why the error occurred, that you will correct it immediately

and that you will always report on time in the future. This will initially be a good barrier to break with the tax officer and they will then do their best to help you through.

At the same time, it is important that you have your VAT figures ready when you talk to SKAT. This is partly because you may not have the money to pay it

all immediately and may therefore be able to work out an instalment plan, and partly because it shows that you have your figures in order.  

How do you prevent this in the future?  

We learn fastest when we make mistakes

You now have the opportunity to improve for the next VAT reporting, and you can do this in many ways.

We've created a Financial Calender that gives you all the important deadlines, you can write these down on your phone so you're always updated.

In addition, you now know that you will never have to deal with your VAT return at the last minute, which is why outsourcing the accounting function

can be a good investment, this way you will never have to go through the same hurdles again. You can now focus on running your business, knowing

that your deadlines and figures are always up to date.

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