In the middle of the 2016 – 2017 Income Tax campaign, the Tax Agency confirms that one in three of the drafts presented is not correct and, from AYCE Consultores we wanted to deal with the 10 most common mistakes that we find in the drafts when making the IRPF declaration. Errors that may cause you to fail to benefit from the relevant tax reductions and deductions.
It is essential to pay special attention to the revision of the draft before its confirmation,ensuring that no data is missing or that the information you have provided is not incorrect. It should be borne in mind that the AEAT
does not have all the information that appears in the drafts received,since this is provided by third parties such as a financial institution, an insurance company or the company in which it works.
The vast majority of these mistakes are usually closely related to deductions for the purchase or rental of a property, as well as for modifications in marital status. Some mistakes that in most cases arise from the need to charge as soon as possible the return of the declaration, which means that the drafts made are not correctly reviewed.
If you do not have the necessary knowledge or simply do not have enough time to make the Personal Income Tax return yourself, do not hesitate to hire the services of AYCE Consultores.
You will be in the best hands, enjoying the best results at all times.
10 most frequent errors in drafts
#1 – Marital status
One of the most frequent errors that we find has to do with marital status, since the possible changes that may have occurred are not reflected in the draft,which could lead to the loss of a series of family deductions. This also happens with deaths, births and situations of disability.
#2 – Individual or joint
When making the declaration you have to decide between making it individually or jointly. The Tax Agency will mark by default the box it deems appropriate according to the data provided, but it is convenient to assess which is the most beneficial option in each case for the family economy.
It should be borne in mind that in case of being separated or divorced, the compensatory alimony between spouses and the maintenance of the children if there are any must also be reflected.
#3 – Deductions for home purchase
Although the deduction for the purchase of a habitual residence disappeared for those homes that were acquired as of January 1, 2013, all those that were purchased prior to this date continue to have a deduction, and must be recorded in the declaration. It is necessary to check that the expense for the mortgage loan appears as well as that the amount is correct.
#4 – Deductions for rent
As for the deduction for the rental of a home, attention must be paid to the start date of the rental contract of the property to be able to benefit from up to the maximum of 909 euros for the state deduction of lease.
The state deduction only affects those taxpayers who signed their leases after January 1, 2015, while if the contract is prior to that date, up to 10.05% of the amount may be deducted, provided that it has a taxable base of less than 24,107.20 euros per year.
#5 – Empty properties
In case of having a house or an empty premises, it must be taken into account that they generate imputation of real estate income, or what is the same, a percentage of the cadastral value of the properties. You should pay attention to whether these imputations do not have any fault, since it is usual for the Tax Agency to automatically include properties that no longer belong to your property.
#6 – Autonomous deductions
The vast majority of taxpayers are unaware of the existence of regional deductions, when these can generate important benefits at the tax level. These deductions are usually related to the costs of teaching or studies.
#7 – Donations to NGOs and political party affiliations
Another of the most common failures that we find is related to deductions for donations to NGOs and affiliations to political parties, which in many cases are not included in the declaration.
#8 – Pension Plan
It is necessary to ensure that the data provided by the company in charge of managing the Pension Plan to the Tax Agency are correct. Attention should be paid to the possible reductions approved for retirement, disability, dependency, illness or unemployment.
#9 – Capital gains
It is usual not to include in the draft the capital gains,having to face later the pertinent sanction of the AEAT. These capital gains usually come from the sale of real estate or different official aids or subsidies.
#10 – Performance at work
As for the performance at work, a check should be made of those incomes that do not appear in the draft, such as the collection of a pension by a foreign country. In most cases the AEAT does not have these data, but it is still mandatory to include them within the Personal Income Tax as performance at work.