{"id":5368,"date":"2021-03-23T13:56:37","date_gmt":"2021-03-23T13:56:37","guid":{"rendered":"https:\/\/www.landac.com\/?p=5368"},"modified":"2022-03-02T15:32:34","modified_gmt":"2022-03-02T15:32:34","slug":"tax-return-services","status":"publish","type":"post","link":"https:\/\/www.landac.com\/en\/tax-return-services\/","title":{"rendered":"2020 Income Tax Return: everything you need to know"},"content":{"rendered":"\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<p><strong>The 2020 tax return campaign is just around the corner<\/strong>, and the doubts about the income are starting to arrive to Lawyers &amp; Accountants.<\/p>\n\n\n\n<p>Due to this, as a specialised tax office for tax returns, <strong>we will now try to solve all doubts about the 2020 Income<\/strong>, to help you do it and avoid errors.<\/p>\n\n\n\n<p>Still, if do not know how to do the Income Tax Return, the tax advisors in Lawyers &amp; Accountants offer you the best advice on income tax deductions. Contact us without commitment and let your personal income tac return in the best hands. &nbsp;<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h2 class=\"wp-block-heading\">Common questions about the 2020 Income Tax Return<\/h2>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Which are the deadlines for submitting the 2020 Income Tax Return?<\/h3>\n\n\n\n<p>The deadline for submitting the 2020 Income will start the 7<sup>th<\/sup> of April of 2021 online and will end the 31<sup>st<\/sup> of June. Moreover, as it is stablished by the Tax Agenda calendar, it will be possible to submit it by phone from 6<sup>th<\/sup> of May, and in person from 2<sup>nd<\/sup> of June. On the other hand, from 1<sup>st<\/sup> of July the Tax Return will be out of time, so its submission from this date will carry a list of penalties and surcharges.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Which are the dates for the payments?<\/h3>\n\n\n\n<p>If the tax return is payable, the payments must be done the 25<sup>th<\/sup> of June if domiciled, or the 30<sup>th<\/sup> of June if it is paid in the bank in person or in instalments. In the case of instalments, the 60% must be abandoned when submitting the income, the remaining 40% the 5<sup>th<\/sup> of November.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Penalties for late filing of income tax returns<\/h3>\n\n\n\n<p>If the tax return is submitted late, the surcharge will depend on the time elapsed between the deadline and the date of the submission:<\/p>\n\n\n\n<ul><li>Up to 3 months: 5% of surcharge.<\/li><li>Between 3 and 6 months: 10% of surcharge.<\/li><li>Between 6 and 12 months: 15% of surcharge.<\/li><li>More than 12 months: 20% of surcharge + interest on late payment.<\/li><\/ul>\n\n\n\n<p>In case you submit the income more than 12 month late, you should pay 20% of surcharge, <strong>plus interests on late payment of 3.75%<\/strong>.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">Who is obligated to submit the 2020 income tax return?<\/h3>\n\n\n\n<p><strong>All natural persons who are taxpayers and live in Spain are obliged<\/strong>. That is, all persons who are registered in company and professional activities.<\/p>\n\n\n\n<p><strong>Excluded are incomes from personal income equal to or less than 22.000 euros per year<\/strong>, provided that the income comes from a single payer.<\/p>\n\n\n\n<p>Likewise, <strong>those persons who obtain income from real estate capital are also obliged to do so<\/strong>. This is in reference to the yield obtained from the rental od a dwelling, commercial premises, warehouse, etc.<\/p>\n\n\n\n<p>The same applies if you have obtained <strong>income from capital over 1600 euros or more<\/strong>. These incomes are obtained from trading on stock exchanges, funds, futures, etc.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">What is earned income?<\/h3>\n\n\n\n<p><strong>Earned income is what you receive in exchange for a job<\/strong>. These incomes are not just a payroll, but also an unemployment benefit, a pension, remuneration for representation expenses, etc.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">What happens if you 2 payers?<\/h3>\n\n\n\n<p>AS we said before, if you have two payers, you are obliged to file personal income tax returns, even if the total amount received is less than 22.000 euros per year.<\/p>\n\n\n\n<p>However, for this to happen, the second payer must be over 1.500 euros per year. If not, you will not be obliged.<\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">How does it affect people on Record of Temporary Employment Regulation?<\/h3>\n\n\n\n<p>In the case of people who have been on <strong>Record of Temporary Employment Regulation at some point of 2020 and have had two payers<\/strong> (the company and Social Security), they are not obliged to file personal income tax returns if the sum of both is not over 22.000, or if the quantity received from the Social Security is not over 1.500 euros per year.<\/p>\n\n\n\n<p>If you need to clarify your doubts about the Income Tax Return make an appointment now, <strong>in Lawyers &amp; Accountants we offer you advice about the Income Tax Return<\/strong> we try to solve your doubts in the clearest way, we will accompany you during the whole process and we worry about doing the tax return and submit it so that you obtained the best deductions.<\/p>\n\n\n\n<p><strong>Contact out consultancy for the Tax Income Return in Madrid without commitment. Our tax advisors will be happy to help you.<\/strong><\/p>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<h3 class=\"wp-block-heading\">MORE SERVICES<\/h3>\n\n\n\n<div style=\"height:32px\" aria-hidden=\"true\" class=\"wp-block-spacer\"><\/div>\n\n\n\n<div class=\"wp-block-columns are-vertically-aligned-top is-layout-flex wp-container-core-columns-layout-1 wp-block-columns-is-layout-flex\">\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/legal-advice-madrid-spain.jpg\" alt=\"\" class=\"wp-image-5369\" width=\"125\" height=\"125\" srcset=\"https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/legal-advice-madrid-spain.jpg 500w, https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/legal-advice-madrid-spain-200x200.jpg 200w, https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/legal-advice-madrid-spain-150x150.jpg 150w\" sizes=\"(max-width: 125px) 100vw, 125px\" \/><figcaption><a href=\"https:\/\/www.landac.com\/en\/servicio\/legal-area\/\"><span style=\"color:#9c0f22\" class=\"has-inline-color\">Legal Consultancy<\/span><\/a><\/figcaption><\/figure><\/div>\n<\/div>\n\n\n\n<div class=\"wp-block-column is-vertically-aligned-top is-layout-flow wp-block-column-is-layout-flow\">\n<div class=\"wp-block-image\"><figure class=\"aligncenter size-large is-resized\"><img loading=\"lazy\" decoding=\"async\" src=\"https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/contracts-commercial-Lawyers-madrid-spain.jpg\" alt=\"\" class=\"wp-image-5373\" width=\"125\" height=\"125\" srcset=\"https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/contracts-commercial-Lawyers-madrid-spain.jpg 500w, https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/contracts-commercial-Lawyers-madrid-spain-200x200.jpg 200w, https:\/\/www.landac.com\/wp-content\/uploads\/2021\/03\/contracts-commercial-Lawyers-madrid-spain-150x150.jpg 150w\" sizes=\"(max-width: 125px) 100vw, 125px\" \/><figcaption><a href=\"https:\/\/www.landac.com\/en\/servicio\/corporate-lawyer-madrid\/\"><span style=\"color:#9c0f22\" class=\"has-inline-color\">Commercial Lawyers &#8211; 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How to find an accountant professional to do your tax return \u2013 and what you should pay.<\/p>\n","protected":false},"author":1,"featured_media":5381,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[114],"tags":[64,66,65],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.5 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2020 Income Tax Return: everything you need to know | Lawyers &amp; Accountants<\/title>\n<meta name=\"description\" content=\"Yearly tax returns completed by your own dedicated accountant. Contact our consultancy for the Tax Income Return in Madrid. 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