The tax forms for SMEs and the self-employed must be widely known by them, in order to comply with their tax obligations and not be penalised.
Taxes are quarterly (as in the case of VAT) or annual, and are linked to business and professional activity.
In fact, the entrepreneur or self-employed person is obliged to declare even when the amount of the activity is zero. In this specific case, the declarations must be filed as « Negative/No activity/zero result ». This is until the Form 036 for cessation/cancellation of activity is filed.
The legal status of the SMEs that have to declare their income to the Tax Authorities must be:
- Sociedad Anónima or S.A.
- Limited Company, or S.L.
- Sociedad Colectiva or S. C.
- Sociedad Comunitaria or Sociedad en Comandita: S.B.
- Cooperative Society: S. Coop.
Quarterly declarations for the self-employed and SMEs
Among the tax forms for the self-employed and SMEs, some must be declared on a quarterly basis. These are the following:
Declarations of self-employed workers and SMEs on withholdings.
Form 111 of the Tax Agency is filed if the company or self-employed person:
- Has employees in their charge.
- Receives invoices from professionals.
Form 115 is filed for tax withholdings if the company or self-employed person has rented premises for their professional work.
Declarations of self-employed and SMEs on results.
A percentage of the difference between expenses and profits (i.e. of the profit margin) is paid. This is an advance payment on account of Personal Income Tax (Impuesto sobre la Renta de las Personas Físicas, or IRPF). In this specific case, Forms 130 and 131 must be completed.
SMEs and micro-companies must pay Corporate Income Tax in instalments. To do so, Form 202 must be filed. The dates for this payment in instalments are as follows:
- A first period, from 1 to 20 April.
- A second period, from 1 to 20 October.
- A third period, from 1 to 20 December.
It should be noted that this tax return is not filed in July, because that is the date of the Corporate Income Tax.
VAT return for the self-employed and SMEs
This is the best known and most controversial of all the quarterly tax returns. It must be filed on two different tax forms:
- Form 303, which is the quarterly Value Added Tax (VAT) return itself.
- Form 349, on all intra-Community transactions carried out, i.e. those between different European Union countries. This specific declaration is due to the fact that intra-Community transactions are exempt from VAT.
When to file quarterly returns
Quarterly returns must be filed in the following periods:
- First quarter: from 1 April to 20 April.
- Second quarter: from 1 July to 20 July.
- Third quarter: from 1 October to 20 October.
- Fourth quarter: from 1 January to 31 January.
To avoid mistakes with deadlines and procedures, you should rely on the advice and help of professionals who are experts in Tax Law for SMEs and the self-employed.
Located in Madrid, Alicante and Murcia, but with coverage throughout Spain, this is the case of Imont Legal Services. A good consultancy firm to count on when it comes to tax forms for SMEs and the self-employed.
Other tax returns and forms for SMEs and the self-employed
Among the declarations for the self-employed and SMEs that are not due quarterly, the following should be mentioned:
VAT form 390
This is the annual summary of the quarterly VAT returns for the tax year, filed using Form 303. It must be filed between 1 and 30 January each year.
Declarations on relations with third parties
These returns are filed using the following forms:
- Form 347. Transactions with customers and suppliers, exceeding an amount of 3,005.06 euros. It is filed online in February each year.
- Form 184. This is the compulsory summary for certain entities. Specifically, for those considered to be in attribution of income. These are communities of property or groups of owners that, without having their own legal personality, carry out economic activity or receive income.
Other Tax forms for companies, SMEs and self-employed workers
Other tax forms for companies, SMEs and the self-employed are:
- Form 181. Information return on loans and credits, as well as financial transactions with real estate. It is filed from 1 to 31 January.
- Form 720. Annual information return on assets and rights located abroad. To be filed only if certain limits established by current regulations are exceeded. Its deadline runs from 1 January to 31 March.
How to file SME and self-employed tax returns
Tax returns for SMEs and the self-employed must be filed on the correct date and within the deadline. Failure to do so will result in penalties from the Tax Administration.
To avoid mistakes, you should rely on the advice of companies such as Imont Legal Services: true experts in tax law for SMEs and the self-employed. Tax forms for SMEs and the self-employed should no longer be a problem for individuals and legal entities obliged to declare.