Module 120 min2252 wordsFree — no account
Who has to keep books, and from when that duty really applies
The module’s worked examples, then cases to attempt before revealing their solution · 1 section · 171 words · 2 min
Practical case
From when must this business keep books?
A sole trader runs a trading business. For 2025 he reports total turnover of 910,000 euros and a profit of 52,000 euros. In October 2026 he receives a notification from the tax office pointing out the beginning of the bookkeeping duty. His financial year matches the calendar year. From when must he keep books?
Hint: Examine separately whether the conditions are met and from what point the obligation has to be performed. Those are two different questions in two different subsections.
Show the solution
The conditions are met: total turnover exceeds 800,000 euros, and because the two quantities are joined by or it does not matter that profit stays below 80,000 euros at 52,000. For the timing, subsection 2 applies: the obligation is to be performed from the start of the financial year following notice of the notification. The notification is given in October 2026, so the running financial year 2026 is untouched. For 2026 he still determines profit by a cash-basis income statement.
Answer: from 1 January 2027
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