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V2531-18 18 September 2018 · SG de Impuestos sobre la Renta de las Personas Físicas Criterion in force
IRPF · ganancia patrimonial

Selling a professional client portfolio results in a capital gain or loss

A lawyer seeks guidance on how to tax the sale of their client portfolio, setting a price that includes deferred payments. The DGT rules that the sale constitutes a capital gain or loss and that the taxpayer may opt to accrue the amount proportionally as payments are received.

The question raised

Express inquiry is made regarding the treatment in the Personal Income Tax (IRPF) of the sale of a client portfolio and its temporal imputation.

The DGT's ruling

The client portfolio is an asset element assigned to the professional activity; therefore, its sale generates a capital gain or loss and not income from economic activity. As it is a transaction with deferred payment (the period between delivery and the final installment exceeds one year), the taxpayer may opt to impute the gain proportionally as the payments become due.

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