- What is it and who needs to submit it?
Model 151 is the model equivalent to the Personal income tax return (Renta) - (Model 100), but with the difference that it is the annual tax return for taxpayers who have moved to Spain for work purposes, either as employees or freelancers, and are included in the special impatriate regime (commonly known as the Beckham Law).
- When must it be submitted?
Reporting period for Model 151 is the same as for the regular income tax return for residents (Model 100).
Generally, the period goes from mid-April to June 30 of the year following the tax year. If the last day of the deadline falls on a weekend or public holiday, the deadline is extended to the next business day.
- What should be declared in Model 151?
Under the impatriate tax regime, the following must be declared:
- Employment income (salaries): All employment income must be declared, regardless of the country where it was obtained, whether in Spain or any other country. You are required to include both foreign and Spanish-earned income in this declaration.
- Income from innovative professional activities: If during the year you worked as a self-employed abroad in an activity related to innovation and obtained income from it, this income must be declared in Spain and therefore included in Model 151.
- Dividends and interest: Only income from Spanish sources is included in the declaration. For example, if you receive €300 per month in dividends from a company in the UK, you do not need to include this; you only need to declare dividends from Spanish companies.
- Income from real estate capital: Only income from properties located in Spain should be declared. This includes rental income or imputed rental income from properties situated in Spanish territory.
- Capital gains: Only those generated in Spain must be included. This means that if you sell a property or make other similar transactions in Spain, any capital gains arising from that transaction must be declared in Spain.
- When do I have to pay, and when don't I?
Under the impatriate regime, most income is subject to withholding tax or advance payments. This can be through the withholding applied by the employer when paying the salary, or through quarterly payments made by the worker to the tax authorities, advancing 24% of their earnings.
Depending on whether the annual income has been subject to withholding tax or advance payments, the amount to be paid may be higher or lower. However, under this regime, the tax rate is always fixed, and there is no progressive rate applied based on the worker’s personal situation.
- How is it calculated?
In general, this model is simple because the tax rates are fixed: 24% is applied to income included in the general base, such as income from employment, professional activities, or rentals (income from capital gains). On the other hand, the tax rate is 19% for income that is part of the savings base, such as dividends or interest.