Mistakes that cost you money
Every year we see the same tax mistakes return. The good news: most of them are avoidable if you know what to look for.
1. Forgetting deductions
The most common mistake is simply missing deductions. Mortgage interest, healthcare costs, and charitable donations are classic examples. Always review the full list that may apply to your situation.
2. Poor records
No receipts usually means no support for your deduction. Keep your paperwork and digital files organised.
3. Filing too late
Late filing can trigger a penalty. The Belastingdienst can impose a default penalty of EUR 469. Make sure you file on time or request an extension in time.
4. Entering incorrect information
A typo in your IBAN or a wrong amount can delay a refund or lead to an additional assessment. Check everything carefully before submitting.
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5. Not using the right tax credits
You may be entitled to tax credits such as the general tax credit, employment tax credit, and depending on your situation possibly the income-dependent combination credit, old-age tax credit, or young disabled person's tax credit. Make sure you check which credits actually apply to you.
Tip: If you are unsure whether everything is correct, have your return reviewed by a professional.
