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Practical manual for Income Tax 2024. Part 1

k) Contributions made to the protected assets of people with disabilities

Note:Please note that Law 13/2023, of May 24 ( BOE of May 25) has modified the aforementioned Law 41/2003, of November 18, of property protection of people with disabilities, to equate the protected assets of people with disabilities formalized in accordance with the autonomous civil law with those constituted in accordance with the aforementioned Law 41/2003, for the purposes of the application, under the same terms and conditions, of all the tax benefits that affect them.

See the table on contributions to protected assets of persons with disabilities at the end of this section.

By express legal provision, in any case, the contributions made to the protected assets of people with disabilities regulated in Law 41/2003, of November 18, on the assets protection of people with disabilities and modification of the Civil Code, the Civil Procedure Law and the Tax Regulations for this purpose ( BOE of November 19), or in the respective laws that regulate this figure with the same purpose in the different Autonomous Communities with constitutional powers to regulate their own civil, regional or special law, in this matter, in the terms indicated below.

Contributions to protected assets that constitute work income for the owner of said assets.

Regulations: Eighteenth Additional Provision of the LawPIT.

  • Contributions made to protected assets are considered work income for the disabled person who owns said assets, with the following limits and conditions:

    1. When the contributors are taxpayers of the PIT, up to the amount of 10,000 euros per year for each contributor and 24,250 euros per year for all contributors.

    2. When the contributors are taxpayers of Corporate Tax, provided that the contributions have been deductible expenses in Corporate Tax, with a limit of 10,000 euros per year. This limit is independent of those indicated in number 1 above.

    The amounts that, in the terms previously mentioned, are considered income from work are not subject to withholding or payment on account.

  • Valuation in the case of non-monetary contributions. It is necessary to distinguish:

    • Up to the amount of the contribution that does not exceed the established limits (which are considered work income) the disabled person who is the owner of the protected assets will be subrogated to the position of the contributor with respect to the date and value of acquisition of the assets and rights contributed, without, for the purposes of subsequent transfers, the reduction coefficients provided for in the ninth transitional provision of the Law of the PIT.

    • The amount of the contribution that exceeds the aforementioned limits (which are not considered income from work) subject to Inheritance and Donation Tax will be valued in accordance with the rules of said tax.

      However, regardless of the value for which the asset is subject to Inheritance and Gift Tax, it must be taken into account that the acquisition value of the part of the asset subject to said Tax will be determined, for the purposes of the PIT and future transmissions, in accordance with the provisions of Article 36 of the Law PIT, therefore, for these purposes, the value determined according to the rules of the Inheritance and Gift Tax (ISD) will be limited to the market value.

Note: Keep in mind that, for the contributor of non-monetary contributions, for the purposes of the reduction that he can make in his tax base for the contribution to the protected assets, the amount of the contribution is taken as the result of what is provided for in the article 18 of Law 49/2002, of December 23, on the tax regime of non-profit entities and tax incentives for patronage (BOE of December 24). Art. 54.3 Law PIT.

Integration of work income into the tax base of the disabled person

The integration of work income into the tax base of the PIT of the disabled taxpayer, owner of the protected assets, will be made only for the amount by which these earnings exceed three times the public indicator of income for multiple purposes (IPREM), this amount being that in the exercise 2024 amounts to 25,200 euros (8,400 euros x 3).

See in this regard the exemption provided for in Article 7.wof the Law of PIT for work income derived from benefits received in the form of income by people with disabilities corresponding to contributions to social security systems discussed in Chapter 2.

Disposition of contributions by the owner of the protected assets

Regulations: Art. 54.5 Law PIT

The disposition in the tax period in which the contribution is made or in the following four of any asset or right contributed to the protected assets of the disabled person will determine the following tax obligations for its owner:

  1. If the contributor was a taxpayer of the PIT, the owner of the protected assets that received the contribution must include in the tax base the part of the contribution received that would have been left out in the tax period in which the contribution was received as a result of the integration rule discussed in the previous point.

    To this end, the corresponding supplementary self-assessment must be submitted, including any applicable late payment interest, within the period between the date on which the provision is made and the end of the regulatory declaration period corresponding to the tax period in which said provision is made.

  2. If the contributor was a taxpayer of Corporate Tax , two cases must be distinguished:

    • In the event that the owner of the protected assets is the employee of the company that makes the contribution, it will be this person (the employee) as the owner of the protected assets who must include in his tax base the part of the contribution received that he would have stopped including in the tax period in which he received the contribution as a consequence of the application of the exemption provided for in article 7.w) of the Law of PIT and submit the corresponding supplementary self-assessment in the terms indicated above.

      For these purposes, the employee who is the owner of the protected assets must inform the employer who made the contributions of the provisions made during the tax period.

    • In the event that the contribution was made to the protected assets of relatives, spouses or dependents of workers under guardianship or foster care, the obligation described in the previous case must be fulfilled by the worker of the contributing company, who is responsible for communicating to his or her employer the provisions made during the tax period.

In the disposition of homogeneous assets or rights, it will be understood that those contributed first were disposed of. The aforementioned regularization will not occur in the event of the death of the owner of the protected assets, the contributor or the employees of the company.

Note: Regarding the tax impact that the early disposal of the contributions made by the owner of the protected assets has for the contributors see Chapter 13.

  1. Table: contributions to protected assets of persons with disabilities