This year again many Dutch people are ready to realize their entrepreneurial dream. During last Saturday’s Chamber of Commerce starters day, starters could go to eight different places in the Netherlands with all their questions as a brand new entrepreneur.
It is certain that a lot is coming their way; for example, in 2017 quite a few things will change for the self-employed. Online accounting platform Rompslomp provides ten most important developments and tips to get off to a flying start as an entrepreneur.
1. The Model Agreement You Knew Was Coming
The much-discussed and controversial model agreement is really going into effect. The transition period will end on 1 May 2017. So make sure you have converted your VAR to a new model agreement on time.
Tip: use it to your advantage and use the agreement to properly record agreements. Do not wait for your client to come up with it, but offer the agreement proactively. If you use an agreement from the Tax Authorities and you act on it, little can happen to you and the client.
2. Disability insurance too expensive? Join a bread fund
On 31 October, the Central Planning Bureau announced that only 7% of self-employed workers insure themselves against incapacity for work. An alternative to this pricey insurance is a bread fund. A bread fund is a kind of collective disability insurance by and for the self-employed.
3. Business car without addition? Keep track of your miles.
If you drive a car from your own company for business, you do not have to pay an addition up to a maximum of 500 private kilometers per year. It seems obvious, but the Tax and Customs Administration will monitor this even more closely in 2017. Therefore, keep your kilometer registration up to date.
4. Make use of the Small Businesses Scheme.
Do you pay less than EUR 1,345 in VAT annually and spend at least 1,225 hours on your own company? Then you don’t have to pay VAT at all. If you are between this amount and EUR 1,883, you can reclaim part of the VAT.
Administrative red tape is part of being an entrepreneur. There are various online services such as Rompslomp where you can easily create quotations, invoices and digitally store receipts.
6. Get a business account where you can arrange everything online
Is a business account required? No, but highly recommended and will save you a lot of administrative hassle. Also inquire carefully at which bank you can arrange online as much as possible. Costs and conditions differ greatly in this regard.
7. Always put your VAT aside
Perhaps an open door, but no less important for that. If you do not qualify for the small business scheme, you do have to pay turnover tax every quarter to the blue envelope brigade. Keep this in your administration and put it separately on your account. For example, you can open a VAT savings account at Knab online bank for free. So with interest, although you don’t have to do it for that these days.
8. Income Tax and Deductions
The same applies to your income tax. You no longer have an HR department that keeps track of this for you and you want to avoid unexpected costs. So keep track of this and check here how it is with tax benefits.
9. Join other entrepreneurs
Self-employed without staff sounds quite lonely. However, that doesn’t mean you’re on your own. There are many workplaces, networks or meetups for freelancers. Also check out Business Angels Networks, where you can find potential investors for your business. In addition to that, they also offer you expertise and make contact for you.
10. Cycle your (company) healthy
Cycling is good for you, the environment and your company! You can simply declare the travel costs, at €0.19 per kilometer, that you cover by bike as costs. This only applies if you did not buy your own bicycle for business.