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Is your BV company working as intended with the set up?

In case you incorporated a BV company in the past to start up your business, has it brought you what you expected from it? Over time you experience what it is to have a BV company. Regulations as the minimum salary, current account contracts, dividend restrictions and other requirements might have made you realize that the BV company is maybe not such a success as expected.

The requirements plus the fact that you pay more tax and your liability is not so much limited as you expected, you could have the desire to change your business vehicle from a BV company to a one man company.

A one man company is so much easier to maintain

Depending on some aspects such as build up pension right, the BV company can easily be terminated and converted into a one man company. In this company the full profit is taxed, but you are due much less income tax. No risk to have allocated yourself not enough salary under the minimum salary rules. No current account issues. Lower accounting costs.

And in the first years you are regarded a starting entrepreneur, even though you owned already your BV company. Being a starting entrepreneur implies you have an extra tax benefit. The first EUR 24.000 profit is not taxed.

If you need help converting your BV into a one man company, we are happy to assist.

Does this post make you want to get in touch? Go for it!

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