Help when the accounts are urgent

Do not wait. Responsibility for meeting the company's obligations does not disappear because the accounting has been outsourced. Work out which deadline this is, contact the accountant in writing, and check that you still have access to the accounting system, the bank and Altinn.

The situation is serious, but accounts are rarely impossible to rebuild. Much of it can usually be reconstructed from bank data, earlier filings and documentation held by your customers and suppliers. What matters is building on evidence you can show, rather than filling the gaps with guesswork.

Finish the annual accounts and file them complete as quickly as you can. For companies on a calendar year the final deadline is normally 31 July, and the Brønnøysund Register Centre cannot extend it. The fee only stops once complete annual accounts have been received.

This has to be dealt with immediately. There is still a way to put things right, but the deadlines get shorter the further the process has gone. Find the notice in Altinn, check which deadline actually applies, and get complete annual accounts finished.

File as soon as you can. Not filing can lead to an enforcement fine and to Skatteetaten assessing the VAT itself. If you do not have the money to pay the VAT, file the return anyway – filing and paying are two separate obligations.

Correct it as quickly as you can. Errors in the a-melding affect both the company's own taxes and duties and the information NAV, Skatteetaten and Statistics Norway rely on. The deadline is normally the 5th of the month after the month being reported.

First establish whether the invoice itself is wrong, or whether the invoice is right and the error is only in the accounts. The two are handled differently: the first calls for a credit note, while in the second you should normally not credit the customer at all.

Act quickly. An enforcement fine is not primarily a punishment for something you have already done – it exists to force a filing through. If the fine has started to run, file what is missing first and consider the appeal alongside it.

Get a quick overview of what the audit covers and make sure the accounts and the documentation are available. What used to be called a «bokettersyn» is today usually just called a kontroll, and an audit does not in itself mean Skatteetaten has concluded that anything is wrong.

A discretionary assessment means the authorities have set all or part of the tax base themselves because they lacked sufficient information. It does not mean Skatteetaten can freely pick a high figure – the assessment has to be set at what appears to be correct.

A notice does not mean the case is decided. Before additional tax is imposed the business must normally be given a chance to comment, and the deadline must as a general rule be at least three weeks. Excusable circumstances and voluntary disclosure can remove it entirely.

The appeal goes to Skatteetaten first, not straight to the Tax Appeals Board. The deadline is normally six weeks from the date the decision arrived. A good appeal shows specifically what you say is wrong, what the correct outcome should be, and what documentation supports it.

If you have found income, wealth, VAT or other tax information that was previously reported wrongly, it can in some cases be corrected without additional tax. What decides it is whether the correction is genuinely voluntary and gives Skatteetaten enough information to assess the correct tax.

The auditor does not sign the annual accounts. The board and the general manager sign, the general meeting approves, and the auditor then issues a separate auditor's report. Ask the auditor to be specific about which points are still open.

Start by establishing which specific service you need and which authorisation is actually missing. During 2026 Altinn is moving from its old roles to new access packages, so many businesses have to grant authorisations again. Missing access does not mean the right to represent yourself has gone.

From 2026, advance tax deductions have to be paid directly to Skatteetaten by the first working day after the salary is paid. They carry stricter rules than most other running liabilities, and the money withheld must not be used as working capital. Pay the missing amount as soon as you can.

If the company has filed correct returns but has no money when they fall due, that is first and foremost a cash problem. It does not automatically mean the company is insolvent. But the board should establish quickly whether the problem is temporary – or whether continuing to trade could cause creditors fresh losses.

A bankruptcy petition does not mean the company is already bankrupt. It means a creditor has asked the district court to consider whether the conditions are met. Deal with it immediately – read the petition, check that the claim is correct, and establish whether the company is actually solvent.

Notice of attachment means a creditor has moved from ordinary collection to enforcement. It does not necessarily mean assets will be sold straight away. In 2026 it is particularly important to read the letter carefully – Norway is midway through a transition to new rules.

A limited company being unable to pay its debts does not automatically mean the board, the general manager or the shareholders have to pay out of their own pockets. Personal liability can still arise where a director acts intentionally or negligently and that causes a loss to the company, a shareholder or a creditor.

A company going bankrupt does not automatically disqualify the chair, the directors or the general manager. Disqualification requires its own assessment and its own ruling from the district court. The general rule is two years.

The purpose of due diligence is simple: the buyer wants to check that the business really earns what it appears to earn, that the balance sheet holds up, and that there are no financial surprises waiting to surface after completion. The tidier things are before the process starts, the easier the value is to document.

There is rarely one right answer. Value depends on how much the business earns, how predictable the income is, how dependent it is on the owner, how much capital it needs – and what a buyer is actually willing to pay. The accounts are the starting point, but valuation is about the future.

It is easy to think the task is just agreeing a price. In practice you have to settle several questions at once: what the shares are worth, who is buying them, whether the whole price is paid now, whether there are shareholder loans or a declared dividend, whether the transfer needs consent – and what the tax will be. The order matters.

A share issue is something quite different from an existing owner selling some of their own shares. In an issue the company creates new shares, the investor pays the company, and the company gains new equity. In return the number of shares rises and existing owners are diluted.

Succession is about much more than moving shares from one owner to another. Who should own, who should run it, should the shares be given or sold, should the children own personally or through a holding company – and how are siblings who will not join the business treated? Take the decisions together, before the shares move.

Where one or both of you own a business, there are two separate settlements to handle: the position between you privately, and the position with the company. The first question is whether you are married or cohabiting – the rules are very different.

There is no single answer, but for most owners a combination works best: salary up to the level that gives the cash and the National Insurance rights you want, and dividends once further salary carries a high marginal cost. Salary is deductible in the company and builds sick pay and pension rights, but costs employer's contributions. A dividend does neither.

Money in the account is not the same as distributable capacity. The company has to have headroom under section 8-1 of the Companies Act, follow the right decision process, and still have adequate equity and liquidity afterwards. The tax normally arises on the date of the resolution, not when the money is paid – a December resolution is income for that year even if payment happens in February.

The Taxation Act treats a loan from a limited company to a personal shareholder as a dividend, however genuine the loan is in private law. You get the tax now and still owe the company the money. The exception is small credits under NOK 100,000 dealt with within 60 days – and the threshold is measured against the total balance, not against each withdrawal.

A company car gives a taxable benefit calculated from the list price, not from what the car actually costs you. A private car is financed with taxed kroner but gives a tax-free mileage allowance of NOK 3.50 per business kilometre in 2026. For a class 2 van there is a third route: an electronic log book at NOK 3.40 per private kilometre, which often beats the standard formula by a wide margin.

For costs tied to the home itself, the room normally has to be used exclusively for earning income – a room that doubles as a guest room does not qualify. An employer can pay NOK 2,240 a year tax-free, or cover documented actual costs. Your own AS can rent a room from you, but only where the tenancy is genuine, and it can make a later sale of the home more expensive.

You can build pension from three sources, and they do not exclude one another: the National Insurance scheme, which builds on salary or personal income and not on dividends; a voluntary defined contribution pension of up to 7% of relevant income up to 12 G; and an IPS account, capped at NOK 25,000 from 2026. A dividend from your own company builds no pension entitlement at all – that is the most important difference between salary and dividends over time.

The duty arises when at least one of three conditions is met: two people each in at least 75% positions, one employee without an ownership interest in at least a 75% position, or people in at least 20% positions who together make up two full-time equivalents. The scheme has to be set up within six months. The minimum contribution is 2% of salary up to 12 G, from the first krone – the old 1 G floor is gone.

The general rule is that any economic benefit you receive because of your employment is taxable unless a specific exemption applies. The exemptions are specific and have limits: gifts NOK 5,000, staff discount NOK 10,000, overtime meals NOK 200 per day, electronic communication a maximum income addition of NOK 4,392. The benefit can also come from a customer or a supplier.

As a general rule they cannot. Section 5-10 of the Taxation Act makes remuneration for a board appointment a benefit earned through work, including where the role is carried out as part of the recipient's own business. The fee therefore has to be handled personally, with withholding, the a-melding and employer's contributions – and it is exempt from VAT. Genuine consultancy outside the board role can be invoiced separately.

Both give a tax deferral, but they solve different problems. A share savings account (ASK) suits private, already-taxed money in listed EEA shares and qualifying equity funds, and needs almost no administration. A holding company suits capital already in the corporate sector, or where you own unlisted companies. For many the answer is both – each for its own kind of capital.

The shielding deduction lets you receive a calculated normal return on invested capital without shareholder tax. It is calculated per share you own on 31 December, as the shielding basis times the shielding rate, and unused shielding carries forward and increases next year's basis. It can be used against dividends and against a gain on a sale – but it can never create a loss.

This has to be in place: a written contract of employment no later than seven days after the start, occupational injury insurance, health and safety routines, a tax card, and an assessment of whether the hire triggers the occupational pension duty. From 1 January 2026 the separate tax withholding account is gone: the advance deduction goes directly to Skatteetaten by the first working day after payday. Budget around 30% on top of gross salary.

It is decided by how the arrangement actually works, not by what the contract is called. An employee is marked by a personal duty to work, direction and control by the business, and little risk of their own. A self-employed contractor by responsibility for the result, their own equipment and real economic risk. From 1 January 2024 an employment relationship is presumed unless the engager makes it clearly more likely than not that there is none.

Holiday pay is calculated on the previous year's holiday pay basis, at 10.2% under the Holidays Act or 12% where a fifth holiday week has been agreed. Employees over 60 get an extra 2.3 percentage points, but only on basis up to 6 G. Holiday and holiday pay are two different things: the money was earned last year, the holiday is taken this year, and for monthly-paid staff, pay for the holiday days is deducted in the settlement.

The employer pays sick pay for up to 16 calendar days where the conditions are met, including the employee having worked for you for at least four weeks. After day 16 NAV pays the employee directly, or the employer advances the pay and claims reimbursement. Reimbursement is normally given only up to three months back, so it has to be followed up as you go.

In 2026 the rate is 14.1% in zone I, 10.6% in zone II, 7.9% in zone IVa, 6.4% in zone III, 5.1% in zone IV and nil in zone V. The zone is set by where the business has to be registered, not by where the employee lives – so home working does not give a lower rate. The contribution is reported monthly but paid every two months.

Hiring from a staffing agency is now permitted only in particular cases, including covering for an absent employee, work placements and hiring agreed with a trade union. The agency has to be approved by the Labour Inspection Authority, and in Oslo, Akershus, Buskerud, Østfold and Vestfold hiring for building work on construction sites is prohibited. Continuous hiring for more than three years gives a right to permanent employment with the hirer.

It depends on whether the travel is business travel or a private commute, how it is documented, and what rate is paid. The withholding-free mileage rate is NOK 3.50 per kilometre in 2026. Documented actual business expenses can normally be reimbursed free of withholding. Where you pay at a higher agreed rate, the excess is withholding-liable pay.

A lay-off requires proper, temporary grounds connected to the business. The general rule is 14 calendar days' notice, after which the employer pays lay-off pay for 15 working days. After that the employer can be released from the pay obligation for up to 26 weeks within 18 months, and the employee can claim unemployment benefit at 62.4% of previous income up to 6 G.

Tax, social security, employer's contributions and reporting have to be assessed separately – they do not always give the same answer. An A1 decides which country's social security rules apply, and continued Norwegian membership normally means continued Norwegian employer's contributions. For foreign employees in Norway, PAYE withholding tax is 25% in 2026, or 17.4% with an exemption from Norwegian national insurance, with an income limit of NOK 725,050.

The payroll run has seven steps each month: gather the payroll data, calculate pay and deductions, pay out, pay the advance deduction by the first working day after payment, file the a-melding by the 5th, check the response and book it, and pay employer's contributions on the two-monthly due date. From 2026 the tax withholding account is gone, so several payroll runs in the same month mean several payment deadlines.

There is no turnover threshold at which a limited company suddenly becomes right. What decides it is how much risk the business carries, how much of the profit you need privately, whether you will have employees or co-owners, and how much employee rights matter. A sole proprietorship is taxed on the owner in the year the profit is earned whether or not the money stays in; a limited company pays 22% and can leave the rest.

The move becomes relevant when the business takes on more risk, earns more than the owner needs privately, gets employees, needs capital, or plans co-owners and a sale. The conversion can be carried out without immediate tax under section 11-20 of the Taxation Act, but it requires a newly formed company, tax continuity – and that the company is formed and the registration notice sent before 1 July if it is to take effect from 1 January the same year.

Settle the ownership and the board, draw up the memorandum of association and the articles, sign, pay in at least NOK 30,000 of share capital, have the payment confirmed and register the company. Section 2-18 of the Companies Act gives three months from the memorandum being signed, and the share contribution has to be paid in full before the notice is sent. Remember beneficial owners within 14 days of registration.

After registration the money can be used in the business. Share capital is not an amount that has to sit untouched in an account – it is a restricted part of the equity that cannot simply be distributed to shareholders. What matters is not the bank balance but that the company has adequate equity and liquidity at all times under sections 3-4 and 3-5 of the Companies Act.

Yes, such assets can be used. Section 2-7 of the Companies Act requires the asset to be capable of being recognised in the balance sheet under the Accounting Act and, as a general rule, valued at fair value at the date of contribution. A car, machinery, equipment and a whole business can all be used. Your own labour, an idea or a promise of future work cannot. The contribution is documented in a statement under section 2-6, confirmed by an auditor.

A NUF is the Norwegian registration of a foreign enterprise, not a company in its own right. It therefore does not give the limited liability a Norwegian AS gives – the foreign enterprise remains the legal person. A NUF makes most sense where an established foreign company is to operate in Norway. For a Norwegian founder the arguments have largely gone: a company needs only NOK 30,000 and can normally opt out of an audit.

In an ANS each partner has unlimited personal liability for the whole of the partnership's debt. In a DA the liability is split by agreed shares – hold 10% and you answer for 10% of the obligations. A creditor has to claim against the partnership first, and where the claim is not met within 14 days of demand it can be made directly against the partners under section 2-4 of the Partnerships Act.

The first year has its own order: the share register at formation, beneficial owners within 14 days of registration, the right invoice set-up before the first invoice, VAT registration once turnover passes NOK 50,000 over twelve months, employer obligations with the first employee, and then the shareholder register statement on 31 January and the tax return and annual accounts the following year.

You need one as soon as the company has more than one owner. It governs the relationship between the shareholders: roles and workload, board seats, which decisions need broad agreement, dividend policy, what happens when someone wants to sell or leaves, and how the shares are valued. But it binds only the parties – for a majority requirement to apply as a matter of company law, it has to be in the articles.

No law requires the accounts to be outsourced. With few transactions, no employees, simple VAT and a real grip on the deadlines, you can keep them yourself. The value of an external accountant grows with employees, VAT complications, inventory or projects, and with how expensive a mistake would be. What decides it is the division of work – not how much is outsourced.

The general meeting resolves to dissolve, the resolution is notified to the Register of Business Enterprises, and creditors get six weeks from the announcement to lodge claims. Assets and debts are then settled, the tax positions resolved and an advance assessment requested before the company is deleted. A liquidation distribution can only happen once the creditor period has run – even in a debt-free company.

A housing co-operative has to prepare annual accounts whatever its size and has to have an auditor. For jointly owned property the line runs at 21 units: those above it follow the Accounting Act and need an auditor, while smaller ones still have to keep «proper and sufficient accounts» and present last year's accounts at the annual meeting. The board's responsibility does not disappear when the accounts are outsourced.

Every co-operative has to prepare annual accounts and have a statutory audit, whatever its size. The Housing Co-operatives Act sets four fixed deadlines: the auditor's report has to reach the board at the latest two weeks before the general meeting, the accounting documents go to the members at the latest eight days before, the general meeting is held by the end of June, and the accounts are filed at the latest one month after adoption.

The board is responsible for the day-to-day management and can outsource the tasks, but not the oversight. Personal liability normally requires more than a decision that turned out badly: there has to be intent or negligence, a financial loss, and a causal link. Omissions can trigger liability too – not only decisions.

These are two different questions: how high the shared costs should be, and how they are allocated. The amount is set by the board in a co-operative, and by the annual meeting or the board in jointly owned property. The allocation, by contrast, follows the law – the ownership fraction in jointly owned property, relative values in a co-operative – and cannot be changed by a majority alone. A different permanent allocation needs the consent of those affected.

Ordinary residential operation does not normally trigger VAT, and the housing company gets no deduction on its bills either. The picture changes with commercial premises, parking let to outsiders, EV charging sold on and larger construction projects. Where input VAT on a construction measure is at least NOK 100,000, the adjustment rules track the use for ten years – and a sale mid-period can trigger the whole remaining adjustment.

Four sets of rules meet here, with four different thresholds that have to be assessed separately. Accounting obligations for ordinary associations start at assets over NOK 20 million or more than 20 full-time equivalents. Tax liability for economic activity starts at NOK 70,000, or NOK 140,000 for charitable and non-profit bodies. VAT registration at NOK 50,000, or NOK 140,000 for the same organisations. And employer's contributions have their own exemption.