With the arrival of summer time, we remind you that if you are obliged to receive compulsory electronic notifications from the Tax office, you have the possibility to request from the Tax Office what days you don´t want to receive any from it.
The Plenary of the Civil Chamber of the Spanish Supreme Court, in its judgment No. 265/2015 of 22 April, has ruled on the unfairness of default interest in loans without mortgage warranty concluded with consumers.
On 24th and 25th March 2015 were passed two judgments by the Supreme Court (TS), which have come to clarify certain legal controversies that existed regarding the “floor clauses”.
We remind you that the floor clauses are those established in mortgages with a variable interest rate, under which the interest rate cannot be lower than that provided in this clause. The current economic situation, where the rate of reference (usually 1-year Euribor) has reached historic lows, has resulted in the client/borrower paying a higher interest rate due to the application of such floor clauses.
The first time the TS addressed in general terms the issue of the floor clauses was in the Judgment 241/2013 of 9th May, which came to void, for being abusive, the floor clauses in the mortgages of the entities BBVA, CAJAMAR and CAJAS DE AHORRO DE GALICIA, VIGO, ORENSE Y PONTEVEDRA.
But this judgment of 2013 opened two big questions left unresolved:
1) Not all the floor clauses were declared illegal: only those that by their lack of clearness did not allow the consumer to identify the real economic consequences of the clause.
2) It was not clearly established from the time when it was possible to claim back the interest unduly charged by the bank.
The Judgments of 24th and 25th March 2015, have clarified these issues in the following sense:
1) All the floor clauses applied by the financial entities, due to its redaction, are void by lack of clearness, independently of the education or economic situation of the customer. This reasoning is one more argument to declare void in the future those floor clauses in the mortgages of companies and individual entrepreneurs that have not the condition of consumer (in the sense of the Spanish Law of Consumers and Users). The Supreme Court has not yet ruled specifically about this possibility, but different Provincial Courts (among which is that of Murcia) have done it, giving the reason to the company.
2) It is only possible to claim back the interests unduly charged by the Bank since 9th May 2013.
If you have a floor clause in your mortgage, please do not hesitate to contact us to study the possibility of removing it from your loan contract.
From January the 1st of 2015 tax payers that develop and activity that includes them in the Social security either as self-employees or employees for someone else are entitle to a tax deduction of 1.200 € every year for each descendant or ancestor with a disability as long as these disabled people lived on account of the tax payers that apply for these tax deductions.
Just the same large families are entitled to the same tax benefit of 1.200 € per year and the figure just double in other 1.200 € if the family is large family of special condition. From the past March the 1st, the following novelties have been passed:
Are entitled to these deductions not only people that might be affiliated to the Social Security, but also unemployed and pensioners. They are entitle too to obtain the payment in advance monthly.
People legally separated or divorced or with marriage bond, with two children not entitle for food pension and that not live with the other progenitor, will be entitled as well to obtain the deduction of 1.200 € or the payment in advance monthly.
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Photo: Andrés Nieto
Reduction on revenues from the rental of real estate goods for owners
As known, when the rental came from an estate use as habitual dwelling of the tenant, there is a reduction of 60% of the net rent and this reduction rose up to 100% when the tenant was aged between 18 and 30 years old. This reduction of 100% disappears. Also for the revenues obtained on no regular basis or with a generation period of more than two years, the percentage of reduction on them falls from 40% to 30% and the total amount limit to put that reduction on, cannot be over 300.000 €.
Revenues from economic activities
To consider rentals of a real estate heritage as an economic activity, the possession of a commercial local is not a requirement anymore. It is just needed to have an employee full time.
Deductions for the quote of tenants.
The deduction for tenants for the payment of their rentals of his habitual dwelling disappears. If tenants have been living on a rent before 2015 and have been entitled to deduct for that rental, they will keep the right to keep on do it so during the existence of that rental according with former regulation.