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Practical Guide to Income Tax 2025. Part 1.

6. Total or partial loss of the right to exemption for reinvestment in habitual residence and in new or recently created entities

Regulations: Art. 41.5 Regulation PIT

Remember: In those cases where the situation that motivates the regularization affects tax periods prior to 2024, consult the practical manual corresponding to the aforementioned tax period.

A corrective self-assessment for the 2025 tax year must be submitted when, after the application of the exemption for reinvestment of the capital gain derived from the transfer of the main residence or shares or holdings in newly or recently created entities, the right to said exemptions has been lost, totally or partially.

The loss of the right to the aforementioned exemption may occur as a result of:

  • The reinvestment has not been made within the legally established period.

  • Failure to comply with any other conditions that determine the right to the aforementioned tax benefit.

Precision: See in this regard, within Chapter 11, the conditions and requirements that determine both the exemption of the capital gain obtained in the transfer of the habitual residence of the taxpayer for reinvestment in another habitual residence of the amount obtained in the transfer of the previous one, such as the exemption of the capital gain obtained in the transfer of shares or participationsfor which the deduction for investment in newly or recently created companies provided for in article 68.1 of the Law of the PIT, when the amount obtained from the aforementioned transfer is reinvested in the acquisition of shares or interests in another newly or recently created entity.

The corrective self-assessment for the 2025 tax year will be submitted within the period between the date on which the non-compliance occurs and the end of the regulatory declaration period corresponding to the tax period in which said non-compliance occurs.

In this case, late payment interest is settled by the tax management bodies.

The settlement period will be calculated from the end of the deadline for filing the declaration for the fiscal year to which the amendment refers until the payment date, provided that it has been made within the period provided for in the regulations indicated.

Note: If the amended return for the 2025 fiscal year corresponds to this circumstance, the taxpayer must mark the box with an "X". [117] from the "Corrected Self-Assessment" section of the declaration.