What is form 111?
Form 111 is the quarterly form used by companies and self-employed persons to declare and subsequently pay the withholdings they have made during the quarter from workers, professionals or business owners.
Who is required to submit it?
All self-employed workers and SMEs that hire workers (and therefore have part of the amounts withheld from their payroll) or that receive invoices from professionals with IRPF withholding must submit Form 111.
In this case, they must notify the Treasury through the census declaration 036, checking the box that establishes the obligation to present withholdings. Once this is done, even if the self-employed person or the SME has not applied withholdings during a quarter, they are still obliged to present form 111, making a negative declaration. If during the following quarters they are going to continue without making withholdings, it is best to deregister this obligation with the Treasury.
We will apply a withholding in the following cases:
- Employment income: payrolls, severance pay, etc.
- Returns from some economic activities:
Professional activities, for example as a consultant.
Agricultural and livestock activities.
Forestry activities.
Business activities in objective estimation (activities in modules that are required to retain 1%).
Intellectual property, industrial property, mines… - Prizes for participation in games, contests, raffles…
- Capital gains from forestry exploitation in public forests.
- Image transfers art, 92 LIS.
When is Form 111 submitted?
Self-employed workers and SMEs must submit their personal income tax return every 3 months and the deadline for submission is within 20 days after the end of each calendar quarter.
First quarter: From April 1 to 20, both inclusive.
Second quarter: From July 1 to July 20, both inclusive.
Third quarter: From October 1 to 20, both inclusive.
Fourth quarter: From January 1 to 20, both inclusive.
If the deadline date falls on a Saturday, Sunday or holiday, the deadline will be the next business day.
What should be taken into account when completing Form 111?
To correctly complete Form 111, you must first identify the type of income paid and the number of recipients. If you have several employees, you will add up all the amounts paid during the quarter and the total amount of the withholdings made, also distinguishing between what was paid in cash and what was paid in kind. Similarly, all the amounts of the invoices paid to other professionals and their corresponding withholdings during the quarter are added up and everything is transferred to the form. This will show the amount to be paid to the Treasury, if the declaration is positive.
If you have any questions about how to fill out or submit the form we are informing you about or any other procedure with the Treasury, do not hesitate to contact us. contact with our tax experts who will help you resolve them.
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