Free tool
How much of what you earn is yours?
Not everything that lands in your account is yours. Work out how much to set aside each month so nothing catches you out.
A typical month
Monthly amounts, excluding VAT.
What's really yours
1.518,53 €/month
Your real take-home pay, after setting aside tax and paying your social security.
- Profit (income − expenses)
- 2.400,00 €
- − Set aside for VAT (form 303)
- −504,00 €
- − Set aside for income tax (form 130, 20%)
- −480,00 €
- − Social security contribution
- −401,47 €
- Available for you
- 1.518,53 €
A guide estimate under direct assessment. Form 130 is a 20% advance; your final income tax is settled in the annual return at your own rate. It excludes VAT on unbilled expenses and any special situations.
Why not everything that comes in is yours
When a client pays an invoice, part of that money isn't yours: it's VAT you've collected on the Spanish Tax Agency's behalf and will have to hand over on the quarterly form 303.
You also need to set aside income tax from your real profit (income minus expenses): form 130 is a 20% advance you pay each quarter, and it's reconciled in your annual return.
Then there's your social security contribution, which you pay every month regardless of what you invoice. It's a fixed cost worth keeping set aside at all times.
A practical rule: set aside the VAT you collect each month, plus around 20% of your profit for income tax. That way, when the quarter comes round, the money is already there and you don't have to dip into your own pocket.
Estimates only. This tool gives you an estimate based on the details you enter, but every situation is different and there may be factors it doesn't account for. It isn't a substitute for professional advice.
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