Who has to submit it?

Corresponding quantum a company specializing in business administration for the self-employed and companies, are required to submit Form 111 “all types of entrepreneurs, freelancers or companies that during the relevant quarter or month (monthly for large companies) withhold (rebate) a portion of the amounts due on payroll of the worker, professional invoices, purchase invoices for specific activities and other less common cases”.

In accordance with the above, a withholding tax is levied in the following cases:

1.-Income from work: payroll, statements, etc.
2.-Income from some economic activities (professional activities, agricultural and livestock activities, forestry activities, business activities in objective estimation – activities in modules that are obliged to withhold 1% – and intellectual property, industrial property, mining…
3.-Prizes for participation in games, contests, raffles…
4.- Capital gains from forest exploitation in public forests.
5.- Transfer of images Art, 92 LIS.

when it shows up

The submission deadline for Form 111 is within 20 days of the end of each quarter naturally.

-First semester: From April 1st to April 20th, both inclusive.
-Second semester: From July 1st to 20th, both inclusive.
-Third Quarter: From October 1st to 20th, both inclusive.
-Fourth Quarter: From January 1st to January 20th, both inclusive.

If the deadline falls on a Saturday, Sunday or public holiday, the period runs until the next working day.

In the case of a monthly self-assessment (large companies and public administrations with an annual budget of more than 6 million euros), the tax office establishes the obligation to submit this during the first 20 calendar days “of the month following the monthly self-assessment period that is reasonable”.

how to fill it

“The data required to fill out the form corresponds to the invoices or expense reports of the declared period in which we withheld the expense recipient. We will quickly get this information from the expense books or from the bookkeeping if it is done correctly.”

I WOULD : You must attach identification labels. If you do not have them, you must enter the requested identification data: NIF or CIF, first and last name or company name.

demarcation : In the task field you must enter the four digits of the calendar year corresponding to the quarter for which the declaration is being made.

settlement

The type of income from work is given, broken down into monetary income and income in kind. According to Cuéntica, this is what is required step by step in this section:

box 01: Total number of individuals for whom the declarant made a personal income tax deduction for employment income. “That is, the total number of people you withhold from their payroll for the specified tax period.”

box 02: «Total of all bases that are withheld from the declarant for work performance. That is, the sum of the total accrued from the payslips of the employees on whose payslips you practice withholding tax in the specified tax period.

box 03: Total amount of withholding tax on earned income. “That is, the sum of all withholdings made to your employees on the payroll in the declared tax period.”

Boxes 04, 05 and 06: Same as the definitions of fields 01, 02 and 03 but taking into account that it is now in kind. “In-kind benefits are converted into the use, consumption or acquisition by employees (at the expense of the enterprise) and for private purposes of specified goods, rights or services that are free of charge or at a price lower than the normal market price.”

That various types of benefits depending on their taxation are:

-Health insurance and healthcare.
– accident insurance.
-Use of the vehicle.
-Training and expenditure and investments to accustom employees to the use of new information and communication technologies.
-Use of housing.
– Kindergarten vouchers.
-Delivery of shares.

box 07: Enter the total number of professionals or entities in the income attribution system to which the declarant paid economic activity withholding. “That means in our accounting we will have invoices with withholdings from professionals, we need to add all the professionals who made a withholding on the invoice.”

In field 08: «Total of all deductible monetary remuneration for economic activities. In other words, we add the tax bases to all invoices from traders who have made a withholding on the invoice.

In field 09: Total amount of withholding tax deductions for income from economic activity. This field contains the total of all withholdings made on professional accountant invoices.

Fields 10, 11 and 12: “That would be exactly the same as the same definitions of fields 07, 08 and 09, but taking into account that it is now in kind.”

Prizes for participating in games, contests, raffles or random combinations: This is only required to be completed by those entrants who have submitted a withholding prize during the specified period. We have to distinguish between prize money and non-cash prizes like a car.

Investment income from neighbors’ forest use in public forests. “This section contains the data corresponding to the perceptions paid by the notifier as a result of forest use in public forests, representing capital gains for the recipients.”

Image Rights Transfer Considerations. The data corresponding to this concept are included here.

total billing

box 28: In this field the sum of the deductions and advance payments of all previous sections is entered. So the sum of boxes 03,06,09,12,15,18,21, 24 and 27. In practice it is mostly the sum of boxes 03+09, because the remaining boxes are mostly zero, they warn in Cuéntica.

box 29: This field is only filled out with an additional explanation. It contains the result of the comparison presented previously for the same year and period. It is filled in when an error has been made in previously submitted declarations.

box 30: Enter the result of the difference between fields 28 and 29. This is the bottom line of the declaration.

entry

Once the model is completed, its result can be payable or negative.

If the model is switch off it must be presented at a collaborating institution. Having to choose in the model whether we pay it in cash – any bank will do that – “although we always recommend it’s one that we have an account with” or pay it by debiting the account must reflect the model of Current account that we would like to be debited from and present it to a branch of the bank where we hold the account.

We transfer the amount from field 30 to button I and mark the selected payment method with an “X”. If the payment is made by direct debit, you must fill in the full details of the direct debit account (CCC). “It is very important that the amount of the payment matches that indicated in box 30. This form is submitted to the bank specified as the means of payment.”

If the result of field was 30 negative, then put an X in the box provided. In this case, the submission must be made to the tax authority corresponding to your tax residence indicated on the identification labels.

Complementary

These declarations are submitted when an error is made in a declaration already submitted and the amount of which needs to be changed. “In this model, the representation of the supplement is only possible if the result of the supplement is greater than that of the incorrectly executed one.”

«In the complementary 111 models, the boxes are filled in with the correct amounts and the box indicating that the model is complementary is checked, specifying the reference number of the model to which it is corrected».

“It is marked with an X in the box provided if this self-assessment complements another previously submitted for the same concept and covering the same period and year. Enter the receipt number, a 13-digit number that appears in the barcode numbering of the previous self-certification.

signature

After completing the form, Form 111 must be signed by the applicant. If you need more information about this particular model, you can consult the information it contains shortcut from the website of the tax office.

how to present it

Finally, in Cuéntica, remember that if you have a certificate or electronic signature, you can make the presentation of this model through the Tax Administration website. In this case you no longer need to take it to the bank if it should be paid or to the tax office if it was negative. You would send it directly with your electronic signature and that’s it.

company management