It is entirely possible to modify your legal status, your country of registration, or your VAT status (switching from a 0% to a 20% scheme, for example).
1. Where to make the change?
All your legal information is managed directly from your account. Go to the "Company" tab, available under "Business details".
Ensure that the information entered matches your official documents exactly (up-to-date proof of registration, intra-community VAT number, and IBAN).
2. What happens to my ongoing projects?
The impact of the change depends on the type of projects involved:
Task based-projects (with milestones)
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If the project is still ongoing:
- First, make the changes in the "Company" tab.
- Go to the project page.
- Click the "More actions" button at the top right.
- Select "Edit project" from the drop-down menu.
- Update the information related to your new structure before finalizing or invoicing.
- If the project is finished: It will no longer be possible to modify the invoice yourself via the platform. In this case, contact the support team at support@malt.com to adjust the invoice according to the details of your new entity.
Time based project (monthly or recurring)
- By changing your legal form, the modification will be taken into account for the following month.
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It is therefore recommended to:
- Wait for the payment of month A to be credited to the IBAN of your current structure (A) before switching to the new structure (B).
- You can then invoice the following month (month B) with your new entity.
Warning: It is technically not possible to register two IBANs or validate two different legal forms at the same time on your profile. You can only have one active and validated structure at a time.
3. What to do if a payment was made to the wrong structure?
If a transfer was made to an entity that no longer corresponds to your current legal form, contact us by email at support@malt.com so that we can assist you in regularizing the situation.
4. Good to know: The DAC7 Directive.
Keeping your information up to date is essential as this change impacts your invoices, social security contributions, and tax processing. The DAC7 directive does not block the change but frames the tax reporting.
Quick reminder (European countries only)
DAC7 requires platforms to transmit income generated via the platform to tax authorities every year. Malt reports the amounts paid (including VAT, net of Malt fees) as well as the identification data of the receiving structure on a quarterly basis.
Concrete impact of the change
- Structure A: Income received under your first structure will be reported under that structure (registration number, VAT, country, IBAN).
- Structure B: Income received after the change will be reported under the new structure.
- Change of country: If you change your country of registration, the destination country for DAC7 information may change, as the declaration is transmitted to the Member State of residence of the seller.
Example: A project invoiced and paid in January under your micro-enterprise (A) will be linked to A in the annual declaration. A project invoiced and paid in March under your company (B) will be linked to B.