View Full Version : Tax Tax advice needed in Tenerife
tenerifeslaps
24-05-2012, 20:22
I have found out today that a friend of mine ,a self employed builder, who has just paid their quartaly tax bill in April, has now been asked to pay a further 780 euros on top of this bill by their accountant. The reason being told that he hadn't paid enough tax for last year, bearing in mind that he has been paying the same tax for the last 6 years (modular) with no problems.
I know that tax in spain is increasing but does this seem right?
He has been told that the bill will be in two halves one being at the end of june the other nov and will be taken directly out of the bank by the government.
Can anyone advise please?
Goldenmaniac
24-05-2012, 20:51
Sounds like Declaracion de la renta - anual tax return - did he or his wife have other income sources or a second property for example which took his /their total earnings into the next bracket, or did they sell a property in 2011 or did a mortgage on which they were receiving relief get paid off, maybe a child has come of age and they no longer get relief for them
The quarterly payments are a percentage of the pre-calculated estimated earnings from a particular self employment - that is not always the whole of the story and there are many other factors which can be added in once a year - ask the accountant to itemise how the calculation has been arrived at.
And yes any income tax due can be spread over two payments as you have detailed.
tenerifeslaps
24-05-2012, 22:12
thanks for that... i will tell him
chocaholic
25-05-2012, 08:03
Hes lucky that it was only 780 euros they wanted!
Goldenmaniac...the font of all information regarding tax and paperwork here in Tenerife. That's why I use her services for all of my tax returns etc. Highly recommended.
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