As planned December for income tax return next year

Taxpayers can save more than 4,600 euros on average in the next tax return if they know how to tap into the final stretch of the year to take advantage of the changes introduced by the last tax reform, according to experts from the Ministry of Finance (Gestha). These tax benefits will be more substantial for citizens with high incomes and assets.

The main novelty of this year lies in improving business deduction for investment in new or recently created, since there are greater incentives for angels entrepreneurs from 2018. Friends and relatives of the third degree of entrepreneurial who wants to establish his own company have a fiscal reward.

Personal income tax law established since the September 29, 2013 an incentive for those interested in providing capital for the start of an activity or seed capital, so that they can create new companies incorporating its shareholders, these investors must keep participation between three and twelve years. Now, It increases the deduction for these investments from 20% before 2018 applicable up to 30% from that period in state personal income tax on investment to underwrite the shares of the company, also increasing the maximum base of the deduction of 50,000 euros per year to 60,000 per year, limited to one entry, along with your spouse and relatives to the second degree included, never more than 40% of the capital of the entity and whose own funds may not exceed 400,000 euros at the beginning of the period of the entity in which the investor acquires the shares.

Additional sets Total exemption of surplus value out of the company, as long as it reinvests in another entity of new or recently created. Today, this esla deduction stronger third of income tax allowing to deduce, but is required to invest a further 7,282 euros, making it the most profitable deduction on average in personal income tax further 2,184 euros on average who financed a recent company after pension plans and deduction in residence. This tax savings established by law Entrepreneurs statewide for business angels It is complementary to the tax savings set by some communities such as Andalusia, Aragon, Baleares, Cantabria, Castilla y Leon, Catalonia, Extremadura, Galicia, Madrid, Murcia, Navarra and Vizcaya.

Moreover, the main deductions that taxpayers will enjoy is the relief for purchase or construction of housing acquired before January 1, 2013, compensation for the losses generated by an investment fund, stocks or financial derivative gains obtained with or exemption from taxation up to 60,100 euros for those who work abroad.

Also, profits from over 65 years for the sale of any goods They are exempt from taxation after the tax reform. However, that exemption will always occur as the total proceeds to the creation of an insured annuity, with a limit of 240,000 euros and a period of up to six months is intended.

Most respondents can squeeze the maximum tax benefits in income tax and save 4,635 euros on average. Eso sí, siempre que dispongan de algo de dinero ahorrado. Precisamente, los Técnicos recomiendan que, antes de movilizar ese capital, cada persona conozca que el ahorro fiscal máximo que puede lograr es su carga real del IRPF, es decir, el importe de la cuota resultante de la autoliquidación, pues Hacienda solo devuelve las retenciones. De hecho, a buena parte del 96,4% de los declarantes de IRPF que ganan menos de 60.000 euros no le conviene invertir hasta el límite máximo de las deducciones disponibles porque no aprovecharía las cuantías deducibles que superan su carga real del IRPF.

Well, to minimize the tax bill corresponding income statement for 2018, which will be presented between the months of April to June, Finance technicians have developed a Decalogue of Fiscal Councils to implement before starting the new year.

1. Take advantage of your pension plan

Los últimos meses del año pueden ser una ocasión idónea para hacer aportaciones a un plan de pensiones o a un plan de previsión asegurado. Eso sí, hay que tener en cuenta que la reforma fiscal trajo consigo una reducción de la cantidad límite que se puede aportar. Y es que ese importe bajó de los 10.000 euros a los 8.000 euros, siempre que no supere el 30% de los rendimientos del trabajo y actividades económicas, independientemente de la edad.

In addition, they also reduce the taxable income contributions to pension plans made by the taxpayer's spouse when he receives income from work or economic activities lower at 8,000 euros. In this case, the contribution limit passed after the reform of 2,000 euros to 2,500 euros.

The tax benefit pension plans, whether a savings product, reflected in the general tax base, not on saving.

En este sentido, Gestha recuerda que invertir otros 6.305 euros de media para alcanzar el límite de estas aportaciones garantiza un ahorro fiscal adicional de unos 1.513 euros de media, variando este ahorro adicional según los ingresos y la comunidad autónoma de residencia. La estadística de los declarantes del IRPF muestra que esta ventaja es utilizada sobre todo por quienes disfrutan de mayores ingresos, especialmente por el 3,8% de los declarantes que son los que ingresan más de 60.000 euros, cuyo ahorro les supone el 45% de la aportación al Plan de Pensiones, variando este porcentaje según la Comunidad Autónoma de residencia.

This is because, for equal amounts invested in pension plans, the tax advantage for higher income is almost double that average incomes, so that the highest incomes obtained in his statement a return of 45% of invested in the pension plan.

2. Continue the deduction for home purchase

Gestha remember that those who bought their residence or made any payment for construction before January 1, 2013 will continue to enjoy their right to relief, provided they have had deductions for such housing in 2012 or previous years.

Thus, these taxpayers can be deducted up to 15% of the amounts invested, with a limit of 9,040 euros investment. Given this ceiling it may be interesting to make an additional payment-from 4,616 euros to amortize the mortgage Media- or build a building (there is a period of four years to complete) before the end of the year to reduce the tax bill 692 euros.

3. Neutralize the taxation of capital gains from sale of residence

For those who sell their home this year, the profits taxed in the next tax income between 19% and 23% in the Provincial Councils of the Basque Country between 20% and 25%, and Navarre between 20% and 26%. However, if you reinvest all or part amount in another housing habitually it is possible to neutralize this payment.

4. Attention over 65 years

They are exempt profits from the sale of the residence by the 65 largest contributors or severe or large dependent dependents.

Similarly, the profits made by those over 65 years for the sale of any property are exempt from taxation, provided that the total amount, up to a ceiling of 240,000 euros, is intended to constitute an annuity insured within six months.

Respecto a los llamados coeficientes de abatimiento, que permiten disminuir parte de las plusvalías en las ventas de bienes no relacionados con actividades económicas y adquiridos antes del 31 de diciembre de 1994, se aplican sólo hasta un importe de 400.000 euros (en País Vasco y Navarra no existe límite) y a la parte proporcional de la ganancia obtenida hasta el 20 de enero de 2006 (ésta puede quedar libre de tributación). Por tanto, los coeficientes de abatimiento siguen siendo aplicables en una buena parte de las transmisiones. Estas medidas implican que cuando la compra se produjo hace unos años, sobre todo posteriores a 1995, y cuanto mayor sea la ganancia patrimonial, más interesante será procurar eximirla de tributación, siempre que se pueda encuadrar en alguno de los supuestos señalados.

5. To compensate for losses with gains

Be stock investor can not only bring profits, but also losses. So Gestha warns that the end of the year is a good time to account and compensate the losses generated by an investment fund, stocks or financial derivative with capital gains obtained. Here it is important to remember that you can not acquire the same values ​​or similar in the two months following the sale.

6. A poorly planned sale of shares

Many taxpayers have no obligation to declare their income to be below certain amounts of work. 2018 par precisely this limit has increased from 12,000 to 14,000 euros. However this limit rises to 22,000 euros if there is only one payer (also if having more payers have not met a total of over 1,500 euros).

If you do not have income from other sources that require us to declare a sale of shares or any other asset or liability, even if it is a loss forces us to file a return and make payment.

7. Do you work out? You can exempt up to 60,100 euros

El proceso de internacionalización ha llevado a muchas empresas españolas a salir al extranjero y exportar sus servicios para poder crecer en su actividad, lo que tiene ventajas fiscales para el personal desplazado. En este sentido, los Técnicos recuerdan que los rendimientos que se han obtenido por los trabajos realizados para empresas radicadas en el extranjero por estos contribuyentes están exentos de tributación con un límite máximo de 60.100 euros anuales (en Navarra hasta 30.000 €)

Of course, this deduction may apply provided that in the territory where the work carried out a tax identical or substantially similar to the personal income tax and no question of a country or territory classified as a tax haven nature applies. In addition, this exemption is only for temporary displacement, because if the taxpayer is a resident of another country no longer taxed in Spain.

8-. Solidarity is rewarded ...

En estos últimos días del año Gestha recomienda a los contribuyentes que no se olviden de conservar el justificante de los importes donados a entidades solidarias. Por otra parte también deducen en el ámbito estatal las cuotas sindicales y los gastos de defensa jurídica contra el empleador (éstas con un límite de 300 euros), así como las de colegios profesionales con carácter obligatorio (éstas también Navarra con un límite de 500 euros).

Technical encourage filers to donate to NGOs, foundations or any host state or provincial laws incentives for patronage always ask for a certificate with their identification data, date and amount donated entity. Thus, at the state level the taxpayer may be tax deductible 75% of the first 150 euros donated 30% from the rest of their contributions, which increases to 35% if the amount donated to the same NGO has not diminished in each of the last three years. In addition, the generated capital gains are exempt if goods are donated.

It is also possible to deduct 10% for donations to other foundations and public utility declared not under Law 49/2002 associations.

9. ... and ideology, too

Finally, membership fees and contributions to political parties can report any additional benefit to the taxpayer because they involve a deduction of 20% (in Navarre is 15%), limited to a maximum of 600 euros.

10. Savings Plans 5: nothing is what it seems

These instruments, which brought tax reform to encourage long-term savings of small savers, are divided into two types: the Individual Savings Accounts Individual Long-Term and Long Term Insurance. And both share several characteristics.

Por un lado, la inversión por aportación se limita a 5.000 euros al año; por otro, los planes sólo pueden hacerse efectivos por el total en forma de capital. Además, para que exista una exención de los rendimientos positivos es necesaria una permanencia de al menos cinco años desde la primera aportación. Por último, el beneficio se pierde si se hace cualquier disposición antes del plazo de cinco años.

Now, keep in mind that interest rates are low, which means that with an investment of 5.000 annual euros and an annual interest rate estimated 2% could reach 100 euros of interest, and when the five years have deposited 25,000 euros, 1540.6 euros of interest accrued during that period if rates continue on the same line, so the actual tax benefit in that five years would reach 292.7 euros.

Unavailability and low tax benefit of 5 Savings Plans make them not particularly attractive, at least with the current rates, except for those who prefer to increase their long-term savings with a safe product, but without high returns.