5. Disposition of assets or rights contributed to the protected assets of people with disabilities

Regulations: Art. 54.5 a) and b) Law IRPF

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.

The disposition of any asset or right contributed to the protected assets of persons with disabilities carried out in the tax period in which the contribution was made or in the following four tax periods has the following tax consequences:

The expenditure of money and the consumption of fungible goods included in the protected assets, when made to meet the vital needs of the beneficiary, should not be considered as disposition of assets or rights and, therefore, the provisions of article 54.5 of the Income Tax Law are not applicable it. However, for such a conclusion to be possible, given that the tax benefits are linked to the effective creation of assets, the latter must be created, which implies that, except in exceptional circumstances that the disabled person may be experiencing from time to time, the expenditure of money or fungible goods before four years have passed since their contribution should not prevent the creation and maintenance over time of the aforementioned protected assets.

a) In the contributor of IRPF

The contributor must make up for any unduly applied reductions in the tax base by filing the corresponding corrective self-assessment for the 2024 tax year.

This self-assessment will generate late payment interest which, where applicable, will be settled by the Administration.

The corrective self-assessment for the 2024 tax year must be filed within the period between the date on which the disposition is made and the end of the regulatory declaration period corresponding to the tax period in which said disposition is made.

b) In the owner of the protected assets who received the contribution

The owner of the protected assets that received the contribution must include in their tax base the part of the contribution received that they would have stopped including in the tax period in which they received the contribution as a result of the application of the exemption included in letter w) of article 7 of the Income Tax Law , by submitting the corresponding corrective self-assessment corresponding to the year 2024.

This self-assessment will generate late payment interest which, where applicable, will be settled by the Administration.

Please note that the comment on the exemption corresponding to work income derived from contributions made to protected assets, as well as those derived from benefits obtained in the form of income by people with disabilities is made in Chapter 2.

c) If the contributor was a taxpayer of the Corporate Tax

In this case, a distinction must be made depending on whether the owner of the protected assets is an employee of the company or whether this status is held by one of his relatives, his spouse or the person in charge of him.

In the first case, the regularization, in the terms previously mentioned, must be carried out by the owner of the protected assets and, in the second case, said regularization must be carried out by the relative, spouse or person who is in charge of it and who is an employee of the company.

The employee who owns the protected assets must inform the employer who made the contributions of the provisions made during the tax period. When the provision has been made in the protected assets of relatives, spouses or persons in charge of workers under guardianship or foster care, the aforementioned communication must also be made by said worker.

Note: If the corrective declaration corresponding to the 2024 financial year corresponds to this circumstance, the taxpayer must mark with an "X" box [116] in the "Corrective self-assessment" section of the declaration.