Share savings account or ordinary custody account: compare after tax
The same investment can develop differently after tax, depending on the account and the tax rules for the security. Here you can compare the Danish share savings account (aktiesparekonto) and an ordinary custody account with the same assumptions for investment and costs.
Worked example
- Regular brokerage account: Shares (taxed on sale)
- Married or registered partner: No
- Deposit: 100,000.00 DKK
- Return per year: 7 %
- Year: 3
After 3 years and tax
Share savings account 118,462 DKK
Regular brokerage account 116,428 DKK (before sale 122,504 DKK , tax on sale 6,076 DKK )
| Year | Share savings account | Tax | Brokerage account | Tax |
|---|---|---|---|---|
| 1 | 105,810 DKK | 1,190 DKK | 107,000 DKK | 0 DKK |
| 2 | 111,958 DKK | 1,259 DKK | 114,490 DKK | 0 DKK |
| 3 | 118,462 DKK | 1,332 DKK | 122,504 DKK | 0 DKK |
The 2026 tax rules apply to all years: share savings account 17% (taxed on unrealized gains), share income 27% and 42% above 79,400 DKK (158,800 DKK for spouses). No other share income. The tax is paid from the investment. Source: Danish Tax Agency (read 15 October 2026).
The timing of tax matters
Some taxes are paid each year on the year’s development, while others depend on sales and dividends. This changes how much is left for later returns. Losses and their tax treatment can also affect the outcome.
Choose the relevant type of investment. The calculator uses the Danish tax rules for 2026. An ordinary custody account does not have one common tax rate for all products. The calculator shows the rules and limitations used in the comparison.
How to compare the accounts
Use the same total payment
If the tax on one account is paid with extra money from outside, that money must be visible. Otherwise a higher final amount can be due to a larger total payment rather than a better type of account.
See the value after any final tax
A custody account can contain a taxable gain that has not yet been realised. Both the calculated value along the way and the result after the model’s final sale and tax are therefore shown.
Also try a course with an early loss and a later gain. This can reveal differences that an even positive return hides. The results are based on the chosen scenarios and the current rules loaded. Check the account terms and the tax position of the actual securities before you make a choice. You can examine general growth before tax in the investment calculator.