Sometimes, when it comes time to pay our taxes (annually or quarterly), we may not have enough cash to make the payment.
In these cases, Hacienda allows us to split the payments into installments or deferral the payment, always provided that there are temporary liquidity difficulties in our business.
We explain the difference between them:
- Deferral: postponing payment in a single installment on a specific date
- Splitting: dividing the payment into several installments
What should you keep in mind before applying?
- It is always a request that may or may not be approved by the Tax Agency.
- The existence of temporary economic or financial difficulties that prevent payment within the legal deadline must be demonstrated.
- If the debt exceeds 50,000 euros, a payment guarantee will be required.
- In the application, both deadlines and payment start date must be stated, which can only be the 5th or 20th of each month, and can start on the month following the filing of the declaration.
Example: You need to split the payment of Form 130 for the second quarter into three installments. You can request a deferral or installment plan starting in August, since the form is filed in July. - Hacienda may not accept the dates you initially requested. Whenever you request a deferral or payment by instalments, they will send you a notice with deadlines and final dates.
- By deferring the debt, Hacienda will apply late payment interest, which is currently 4.0625%. In this link you can find a calculator so you can check how the payments would be.
How do I apply and what are the deadlines?
The easiest way to request it is while submitting your quarterly models, filing the declaration with recognition of debt.
Remember that, with your subscription with us (except with LITE plan) we will take care of filing your quarterly taxes, so if you need us to request a deferral or installmen, you just need to send us an email toayuda@xolo.io before the 5th of the month of presentation so we can request it.
⚠️ Once the deadline for filing quarterly tax forms has passed, if you have not been able to pay them, you will need to apply directly on the Treasury website once the debt appears.