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Specific manual for people with disabilities

Maximum limits and excess contributions made

Regulations: Art. 54 .1 and 2 Law IRPF

A. Maximum reduction limits

Contributions made during the year to the protected assets of persons with disabilities and, where applicable, excess contributions made and not reduced in the years 2020 to 2023 may be subject to a reduction in the tax base for the current year in accordance with the following maximum limits:

  1. €10,000 per year for each contributor and for the set of protected assets to which contributions are made.

  2. €24,250 annually for all the reductions made by all persons who make contributions to the same protected assets.

When several contributions are made to the same protected asset ## and this last limit is exceeded (€24,250), the reductions corresponding to said contributions must be reduced proportionally to the amount of the respective contributions, so that the total of the reductions made by all the natural persons who make contributions to the same protected asset does not exceed €24,250 annually .

In the case of non-monetary contributions , the amount of the contribution will be taken as that resulting from the provisions of 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), there being no capital gain or loss on the occasion of contributions to protected assets established in favor of people with disabilities.

Therefore:

As regards the valuation of non-monetary contributions consisting of assets and rights, in accordance with article 18 of Law 49/2002, of 23 December, the amount will be the book value of the asset or right at the time of transfer and, failing that, the value determined in accordance with the rules of the Wealth Tax.

As regards its tax treatment for contributors, there is no capital gain or loss [art. 33.3.e) of the Personal Income Tax Law ] up to the limits that give the right to the reduction. But for the excess, yes.

Furthermore, it should be taken into account that, in accordance with the Third Additional Provision of Law 41/2003, of November 18, on the protection of the assets of persons with disabilities and amending the Civil Code, the Civil Procedure Act and the Tax Regulations for this purpose ( BOE of December 19), the person with a disability for whose benefit the protected assets are established shall be deemed to be the owner of the assets and rights that make up said assets and that contributions made to them by persons other than said owner constitute transfers to them for profit.

Important : For the disabled person who is the owner of the protected assets, contributions are considered as work income to which the exemption provided for in article 7.w) Law Personal Income Tax will apply.

B. Pending excesses to be reduced from contributions made in previous years

Contributions made that could not be reduced in the years 2020 to 2023 due to exceeding the quantitative limits of tax reduction or due to insufficient taxable income will be charged to the current year, provided that the ability to reduce the excess in the following four years has been requested in the respective tax returns. The reduction of excess amounts, which will be carried out subject to the maximum reduction limits discussed below, will be carried out with priority to that corresponding to the contributions made in the financial year.

C. Excess contributions corresponding to the fiscal year

Contributions made in 2024 that exceed the maximum limits previously mentioned, including the one relating to the positive amount of the taxpayer's general tax base , will give the right to reduce the tax base of the following four tax periods , until exhausting, where applicable, in each of them the maximum reduction amounts.

Attention: The amounts corresponding to the excess pending reduction of contributions made in the years 2020 to 2023 pending application at the beginning of the year, those applied in the declaration and the remainder pending application in future years as well as the excess of contributions corresponding to the year 2024 not applied, the amount of which is requested to be able to be reduced in the following 4 years, must be recorded in Annex C.4 of the declaration in the section "Unreduced excess of contributions to protected assets of persons with disabilities pending to reduce in the following years ".