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Practical manual for Income Tax 2023.

Special case: amounts received for the return of loan interest rate limitation clauses (floor clauses) that had formed part in previous years of the base of the deduction for investment in habitual residence or deductions established by the Autonomous Community

Regulations: Forty-fifth Additional Provision of the Law IRPFABBR

It will not be included in the taxable base of IRPFABBR The return, in cash or through other compensation measures, of the amounts previously paid to financial entities as interest for the application of clauses limiting interest rates on loans (the so-called floor clauses), together with their corresponding compensatory interest, derived both from agreements made with financial entities and from compliance with judgments or arbitration awards.

Please note that Chapter 2 includes a general and detailed study of the tax treatment of amounts received from the repayment of interest rate limitation clauses of loans arising from agreements entered into with financial institutions or from compliance with judgments or arbitration awards.

However, when such amounts previously paid by the taxpayer subject to the refund, had formed part, in previous years, of the basis for the deduction for investment in habitual housing or of deductions established by the Autonomous Community , the following assumptions must be differentiated for the purposes of their tax treatment:

a. If the return of these amounts is made in cash:

  • The taxpayer will lose the right to the deductions made in relation to them, must be added to the state and regional net quota, accrued in the year in which the agreement with the financial entity was concluded or in which a court judgment or arbitration award is issued (finality of the judgment, if applicable), exclusively the amounts improperly deducted in previous exercises under the terms provided for in Article 59 of the Regulations of IRPFABBR, excluding late payment interest.

    This regularization will only be carried out with respect to the in which the Administration's right to determine the tax debt through the appropriate liquidation has not expired.

    Remember: The regularization increases the state and regional net quota in the amounts unduly deducted in previous years without including late payment interest, that is, boxes [0573] , [0576] , [0578] and [0581] of the declaration, intended for late payment interest, should not be completed.

  • However, the amounts that would have been satisfied by the taxpayer in 2023 and in relation to which, before the end of the self-assessment filing period of IRPFABBR for said exercise (June 30, 2024), the return agreement is reached The same with the financial entity or as a result of a court ruling or an arbitration award, will not form part of the deduction base for investment in main residence or any regional deduction for the aforementioned 2023 financial year.

b. If the repayment of these amounts occurs through the offsetting of these with a portion of the capital pending amortization the addition to the state and regional net quota mentioned above will not apply with respect to the portion of the amounts that are directly allocated by the financial institution, after the agreement with the affected taxpayer, to reduce the principal of the loan.

However, the amounts to be repaid that are used to reduce the principal of the loan in 2023 They will also not form part of the basis for the deduction for investment in main residence or any regional deduction ofIRPFABBR of the aforementioned exercise.