Closing in June

What you get from this

This guide takes you through everything that happens when the business year ends: the final reconciliation, the simple annual report, the shareholders' meeting, the distribution of the profit, the closing itself with Ung Företagsamhet, and the preparation for the tax return. You also get information about what is saved, what is deleted and which services to cancel.

The most important thing to understand is that the UF company ceases when the school year ends. A UF company is not a legal entity, there is no company to close at the Swedish Companies Registration Office (Bolagsverket) and no corporate tax return, meaning no INK2, to file. Instead, there are three things to do: you close the registration in the UF portal, you write an annual report that summarizes the year, and each part-owner declares their own share of the result the following year, if the income reaches the threshold for paying tax.

The guide applies to UF companies. If you run a sole trader (enskild firma), a trading partnership (handelsbolag) or a limited company (aktiebolag), the closing looks completely different, and a short walkthrough for each business form is at the bottom.

The tax and accounting advice is our reading of the rules. The Swedish Tax Agency (Skatteverket) has its own information about UF companies; read it, and talk to your UF advisor, before you file your tax return.

What you need before you start

• Your bookkeeping, spreadsheet or service where every income and expense is recorded.
• All receipts, Swish statements and invoices collected in one folder.
• The partnership agreement, so that the profit distribution follows what you have agreed on.
• Login to the UF portal at Ung Företagsamhet.
• Your teacher or UF advisor, who will review the annual report and can help with the winding up.

Time required and difficulty level

Count on four to six hours of work during May, split into two or three work sessions. The difficulty level is medium. The closing itself is easy if the bookkeeping has been kept up to date, considerably heavier if it has been postponed.

How to do it

1. Complete all sales and stop taking on new commitments. Deliver the remaining orders, and set an internal date after which you do not accept new orders, so that there is a clear line for what belongs to the company year.
2. Collect everything that remains. Go through Swish, bank statements and email for receipts and invoices that have not yet been booked, and enter them with the correct date. Every krona must be traceable.
3. Do the final reconciliation. Add up income and costs per calendar year, since the UF year is split across two tax years, the autumn term in one and the spring term in the other. Check that the total in the books matches the account or Swish.
4. Write the simple annual report. It does not need to follow any statutory template, but must contain an income statement, that is, income minus costs per calendar year, a short management report on what you did, and a balance sheet if you have money or inventory left. Your teacher or advisor often has a template, and many regions have a competition where the annual report itself is the entry.
5. Call a general meeting. Book a meeting where the whole company goes through the annual report, approves it and decides how the profit is distributed. Take minutes: who attended, what was decided and how much each shareholder gets. Everyone signs.
6. Distribute the profit according to the shareholder agreement. If nothing else is agreed, the result is split equally. Distribute per calendar year, since the tax return follows the calendar, and pay out each shareholder's share via Swish or bank, with a clear payment reference.
7. Close the UF company in the UF portal. Log in to ungforetagsamhet.se, open your company and follow the winding-up flow. There you report that the company is closing, and in many regions you also submit the annual report for the competition. Do this before the region's deadline, often at the end of May.
8. Cancel or transfer your services. Go through all subscriptions: web hosting, email service, ad accounts, domain and any payment services. Anything not needed next year is cancelled. You can either keep the domain and transfer it to next year's company, or release it, make sure ownership is documented in writing on transfer.
9. Prepare the tax return documentation. Create one sheet per shareholder and calendar year with that person's share of income and costs. The UF company does not file its own tax return, no NE attachment and no INK2; each shareholder reports their share in their personal income tax return. This is only needed if the share of the profit together with any salary reaches the threshold for paying tax, 25,042 kronor for 2026 according to the Swedish Tax Agency (Skatteverket). How the share is to be reported depends on whether you sold goods or services and to whom. Follow the Swedish Tax Agency's information on UF companies, and have your UF advisor look at the documentation before anyone fills in their tax return.
10. Save and delete according to the plan. Save the bookkeeping, receipts and annual report in a labeled folder, with one of you, for seven years, and give a copy to the teacher. The documentation is needed if the Swedish Tax Agency has questions about anyone's tax return. Customer data that you no longer need, such as address lists and order history, is deleted according to your privacy policy. If you have sent marketing to private individuals, their data must be deleted once you no longer need it. How we read the GDPR on deletion is in GDPR for companies. Write down where passwords and accounts are, and store the documentation where the teacher can access it.

How you know it worked

You have a signed set of minutes from the general meeting and approved annual accounts. The UF company shows as closed in the portal, and the profit has been paid out to each part-owner with a documented reference. Each part-owner has received a tax return statement per calendar year. No payment services are withdrawing money anymore, and the teacher has a complete copy of everything that is saved.

If something goes wrong

• Receipts are missing and the books do not add up: start with the Swish and bank account statements, every payment in and out there should have an accounting entry, contact the store or seller for a copy of a specific receipt, and document for the teacher what has been reconstructed.
• The partners disagree about how the profit should be split: open the partnership agreement, if it is silent on the matter an equal split applies, let the teacher or advisor mediate, and change the agreement for the future, not retroactively.
• You missed the region's deadline for the annual report: contact your regional UF office right away, they can often accept late material or grant an exemption, be honest about what happened.
• A service is still withdrawing money from the account: go through the account statements month by month and find the sender, log in and cancel, or contact the bank if you cannot find the cancellation option, save the confirmation of the cancellation.
• The domain expired before you had time to transfer it: contact the registrar account right away, many registrars have a redemption period for expired domains, and reactivate it before someone else registers it.
• A partner forgot to file their tax return the year after: it is possible to supplement the tax return afterwards without waiting for next year's tax return, ask the Swedish Tax Agency (Skatteverket) for help and state that it concerns a practice company.
• Next year's company cannot find the login details: look in the company's documentation folder and with the teacher, use the reset function on each service, and this time write everything down in two separate, labeled documents as soon as the account is recreated.

Closing down other business forms

A sole trader, a trading partnership or a limited company does not cease on its own when a term ends. Here are the main points for each form.

What you do next

Congratulations, you have completed a full business year. Next year's company can start with the benefits already in place. Make sure the bookkeeping is complete with the guide Bookkeeping, go through your legal documents one last time with the Legal checklist, and hand over the domain and email with the help of Domain and email.