The title of this thesis is ”The business taxation scheme, by operation of several businesses, and conditions on termination of a business. The main purpose of the thesis is to give the reader secment an insight into how the business taxation scheme is used in the operation of several business, when running a personal business. To achieve this goal, the thesis will, among other things, be treated through theory as well as practically examples. Operating af business in Denmark, can legally be carried out, either as a company or as a personal business, in accordance with the danish legislation. When running a personal business in Denmark, the self-employed can choose to be taxed, either by the personal taxation law or by the business taxation law. The business taxation law could be used by self-employed for the first time i 1987. The business taxation scheme, gives the self-employed a tax calculation method, which in some points is similar to rules for taxing corporations. The business taxation law ensures full deduction for interest, from personal owned enterprises, and ensure a return on capital, when investments in own company is made by the self-employed. Investment in own business is taxed more gradually, and thereby treated as investments, such as bonds. Furthermore the business taxation scheme allows the self-employed to put aside profit, generated in the business, by paying an initial business tax (25 % in 2011). Thereby the self-employed have the opportunity to smoothen the income, and avoid the progressive income taxation. To use the business taxation scheme, you have to comply with some rules. Among other things, you have to be taxpayer in Denmark, and be characterized as a self-employed person. Furthermore the self-employed have to comply with the accounting requirements, and make sure that a strict separation of the business and private economy is met. When using the business taxation scheme, the self-employed have to prepare different specifications, including; order of withdrawals, account of accumulated profit, account for provisions for later withdrawal, a basis of return of capital, ect. These specifications, together with the order of withdrawals, ensures that profit for the financial year i taxed correctly, as personal income, capital income, and business income. When operating several businesses, using the business taxation scheme, the above mentioned, specifications have to be made for all business together, as if the self-employed was running one big business. After reading this thesis, the reader secment should have been given the knowledge to understand how to use the the business taxation scheme, when operating several businesses, and understand the conditions on termination of one business.
|Uddannelser||Cand.merc.aud Regnskab og Revision, (Kandidatuddannelse) Afsluttende afhandling|