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V1455-22 ·20 June 2022 ·consulta-vinculante Medium impact
Tax

Deduction for main residence must be regularised if floor clause refunds are deposited into account rather than used to repay principal

A taxpayer inquired whether funds received from a floor clause refund, which were deposited into their loan-linked account instead of being used to directly amortise the principal, must be regularised. The DGT ruled that, as the entity did not direct the funds towards reducing the principal, the amounts unduly deducted must be added back to the net tax liability.

In 6 key points

How it affects those involved

Taxpayers who receive floor clause refunds into their bank accounts instead of applying them to their mortgage principal may face tax regularisation requirements regarding their main residence tax deductions.

Lifecycle

2022-06-20PublishedPublished in the BOE
Official text Based on BOE data (boe.es). Information, not advice.

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This analysis is informational only and does not constitute legal advice or create a client-adviser relationship. BM Consulting.
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