For Maintaining minimum vital income, Social Security requires that every year its beneficiaries submit the income statement. This procedure is mandatory not only to maintain the benefit, but also to adjust the amount to the income level of the beneficiary. In the case of not submitting the income statement, Social security can suspend minimum vital incomesince the beneficiary is not fulfilling their obligations.
Social security usually warns and in fact, last year before the end of the income campaign he already remembered it through the social network X (previously Twitter) explaining that it is one of the obligations that their beneficiaries must carry out and that It includes all members of the Coexistence Unit.
Although this income campaign has changed the limits to be obliged to submit the statement, standing at 22,000 euros if they come from a single payer, or 15,876 euros if they come from two or more payers, a figure that corresponds to the current salary Minimum interprofessional This does not apply to the beneficiaries of the minimum vital income. In this case they will be obliged to submit to the statement regardless of income or returns obtained during the past year.
Now, both the Tax Agency and Social Security explain that The minimum vital income (IMV) is a benefit that is exempt from paying. This means that the income of this benefit will not affect the final result of the income statement. Now, if other aids are received together with the IMV, such as the minimum insertion income, only 12,600 euros, corresponding to 1.5 times the IPRE will be declared as work yields. In short, it will only be taxed by the amount that exceeds that limit.
Why does Social Security force make the income statement?
When social security approves the minimum vital income (IMV), it assigns a amount that depends on the income and composition of the coexistence unit. This amount is the difference between the income of the family unit and the amount assigned is what will be charged with minimum vital income until the end of the year.
At the end of each year, Social Security asks the Tax Agency for all the income of the beneficiaries of the minimum vital income in order to adapt the amount to the new level of income or family situation. With the new updated amounts, they can occur until four different situations that are, that the amount increases, that is maintained, that the benefit be reduced or withdrawn for exceeding the income threshold.
If the income and family composition are maintained, the amount of the IMV will continue to be the same. If income decreases or increases the number of members in the coexistence unit, the amount will increase. On the other hand, if the income limit is exceeded, the beneficiary will be notified and the benefit will be suspended from January 1 of the following year. In addition, in case of subsequent changes in the family or economic situation, the benefit may be requested.
Remember that it is mandatory to present it and in the case of not doing so, Social Security may claim the amounts perceived unduly, in the event that it was not entitled to it.
What happens if I do not present the income statement?
In case of Not presenting the income statement, Social Security may suspend the minimum vital income. Although the Tax Agency allows to submit the statement out of time, this can lead to sanctions and the loss of the benefit during those months.
In addition, Hacienda will impose sanctions depending on the result of the draft, the moment of presentation (before or after the notification) and the time of delay. Once the declaration has been submitted, the Social Security must be communicated and demonstrated that the requirements are continued.