Manage your business finances easily — all in one place

With UKKO Entrepreneur, you can choose between a Private Trader or a Limited Company as your business structure.

A Private Trader is often a good fit for small-scale or early-stage business activity. It’s straightforward to set up and, if needed, to close down.

A Limited Company may be the better option if your operations are more extensive, full-time, or your income is higher. A Limited Company typically offers more flexibility when it comes to taxation and risk management.

You can also change your business structure later if your business grows.

Setting up is easy through UKKO Entrepreneur:

1. Fill in the required details when registering
2. We set up your Private Trader business automatically
3. For a Limited Company, we handle the necessary documents and the application to the Trade Register

Once your business is set up, bookkeeping and invoicing work just as smoothly in the service for both business structures.

Not sure which one is right for you? We’re happy to help you decide.

A Private Trader is a good way to start if:

• You’re not yet sure how your income will come together
• Your activity is small-scale
• You want a light and flexible start

A Private Trader is easy to set up and, if needed, to close down. Bookkeeping is straightforward — you add your income and expenses to the service, and we process them and file your returns.

A Limited Company may be the better option if:

• Your income is growing quickly
• Your work is full-time and more extensive
• You want more flexibility in managing your taxation
• Your business involves greater financial risks

With a Limited Company, you can decide how much salary to pay yourself and leave part of the profit in the company. Your liability for the company’s commitments is also more limited than with a Private Trader.

Many people start as a Private Trader and move on to a Limited Company as their business grows. If you’re unsure, we’re happy to help you find the right option for your situation.

One of an entrepreneur’s most important responsibilities is declaring and paying taxes. This is where UKKO.fi helps — for example by preparing your tax and VAT returns on your behalf. Advance tax, which is the entrepreneur’s income tax, must be applied for by the entrepreneur themselves on the vero.fi website. We will, however, remind you when it’s time to apply for advance tax or update your declaration.

In addition, entrepreneurs are responsible for certain things that an employer would normally handle for an employee, such as insurance and social security.

Through UKKO Entrepreneur, regardless of your business structure, you get access to UKKO Assurances, which includes the most common insurance policies an entrepreneur needs, along with other useful benefits and services. UKKO Assurances also includes contract templates — for example for drawing up assignment agreements. It’s good practice for entrepreneurs to take responsibility and protect themselves by agreeing on projects and work assignments in writing.

UKKO Entrepreneur is straightforward to use. You get started by signing up — you can register with an existing Business ID, or we can set up a new business for you during registration.

Once your business is set up and you’ve activated the service, you can start invoicing and adding receipts to your bookkeeping. With UKKO Entrepreneur, you can create and send invoices to your clients by post, email, and e-invoice. You can also save your clients’ and products’ details in the client and product register, which makes creating invoices even faster.

Smart automation makes bookkeeping easier in UKKO Entrepreneur. When you upload a photo of an expense receipt, our system reads the receipt details and fills them in automatically in the bookkeeping entry. All you need to do is check that the system read everything correctly and add a description of how the expense relates to your business. Our bookkeeping and financial administration specialists process your bookkeeping records monthly, and we’ll ask you for more information if any income or expense entry needs further clarification.

We prepare your annual business tax return on your behalf. We also file your VAT returns on your behalf — monthly, quarterly, or annually depending on your VAT cycle. In connection with these filings, we’ll always let you know if we need any additional information from you before preparing and submitting the return to the Tax Administration.

Here’s how it works:

1. Sign up to the service (either with an existing Business ID, or register a new business through us)
2. Start invoicing
3. Save your products, services, and clients in the service
4. Add receipts to your bookkeeping as photos
5. Don’t hesitate to contact our customer service if you have any questions

UKKO Entrepreneur is suited to private traders and small, owner-operated Limited Companies that want to manage their bookkeeping and invoicing easily in one place. It’s a great choice if you have a Business ID or are in the process of setting up a business, want to send unlimited invoices, and value clear, fixed monthly pricing.

It works best for service-based businesses where invoicing is done in euros and bookkeeping can be handled on a cash basis (income and expenses recorded according to the date of payment).

The service is not suited to agriculture, forestry, or animal-related activities. Employee payroll, if applicable, is handled separately. If you’re unsure whether the service is the right fit for your situation, feel free to ask us before making a decision.

Taxation for a Private Trader consists of two parts: the entrepreneur’s income tax (advance tax) and VAT. For a Limited Company owner, there are four different taxes: corporate tax (tax on the Limited Company’s profit), VAT, the owner’s personal income tax, and tax on dividends.

As an entrepreneur, you can also benefit from a range of tax deductions. For example, the VAT deduction on purchases means that if you buy a new computer or drill for work use, you can deduct the VAT on that purchase from the VAT you remit to the Tax Administration.

Entrepreneur taxation can feel confusing and complicated at first, but we’ve put together an extensive library of articles in the UKKO Entrepreneur School that make it easy to get to grips with the key principles.

UKKO Entrepreneur aims to make tax matters as straightforward as possible for entrepreneurs. We prepare your tax and VAT returns on your behalf, and our customer service team is always on hand to help whenever you need it.

Entrepreneurs are responsible for their own social security in a more comprehensive way than employees. An entrepreneur’s social security is based on the self-employment pension insurance (YEL). YEL insurance is taken out with a pension insurance company, and the premium is based on the earned income agreed between the entrepreneur and the pension company — this earned income is an estimate of the monetary value of the entrepreneur’s work input.

If an entrepreneur falls ill, has an accident, becomes unemployed, or takes parental leave, the level of social security benefits is determined by the size of the YEL contributions they have been paying. It’s therefore worth keeping your YEL insurance at a level that reflects your actual work input.

As a safeguard against unemployment, entrepreneurs should also consider joining an entrepreneurs’ unemployment fund. This works in a similar way to an employees’ unemployment fund — if work dries up, the fund pays the entrepreneur an earnings-related unemployment benefit. It’s worth noting, however, that unemployment fund contributions are not tax-deductible for the company, but can be claimed as deductions in your personal taxation.

Through UKKO Entrepreneur, you can conveniently set up your YEL insurance. At the very start of your business activity, or when operations are very small-scale, you are not yet required to take out insurance. At this stage, business activity is generally part-time and social security is covered through full-time employment. YEL insurance becomes relevant once your business activity has been running for more than four months and the other related conditions are met. As your operations expand, we’ll send you an email reminder as your income grows to let you know when YEL insurance becomes relevant — and you can apply for Varma’s pension insurance directly through UKKO Entrepreneur.

UKKO Yrittäjyyspalvelut Oy acts as an insurance agent for Varma Mutual Pension Insurance Company and receives a commission from Varma for the YEL insurance policies it distributes. UKKO Yrittäjyyspalvelut Oy is entered in the Finnish Financial Supervisory Authority’s register of insurance intermediaries. The insurance is granted by Varma.

One of an entrepreneur’s most important responsibilities is declaring and paying taxes. This is where UKKO helps — for example by preparing your tax and VAT returns on your behalf. Advance tax, which is the entrepreneur’s income tax, must be applied for by the entrepreneur themselves on the vero.fi website. We will, however, remind you when it’s time to apply for advance tax or update your declaration.

In addition, entrepreneurs are responsible for certain things that an employer would normally handle for an employee, such as insurance and social security.

Through UKKO Entrepreneur, regardless of your business structure, you get access to UKKO Assurances, which includes the most common insurance policies an entrepreneur needs, along with other useful benefits and services. UKKO Assurances also includes contract templates — for example for drawing up assignment agreements. It’s good practice for entrepreneurs to take responsibility and protect themselves by agreeing on projects and work assignments in writing.