Closing down

The first steps have been taken – I have talked with the income tax people, my accountant and the Danish Commerce and Companies Agency; all were incredibly helpful.
It is really very simple, I have to notify the Danish Commerce and Companies Agency of my desire to close my business – the required forms are easy to find on their site. The Inland Revenue person explained that I have to keep records of any work done, just as if I was continuing my present firm. But, of course, no VAT accounting.

 I still have to keep a record of car use, but when I explained that any work would be done from home, it was agreed that I just need to keep a record of the annual kilometres driven with a specific note of any business use. A lot simpler!
A hobby business can deduct genuine expenses -in my case -such as paper and printer ink cartridges, e.g. tax is paid on the profit of any work done. Hobby turnover must not exceed DKK 50,000 annually.