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Since 2023, self-employed workers in Spain (autónomos) pay RETA social security contributions based on their forecast real net income, rather than a freely chosen base as before. The system has 15 brackets split into two tables: a reduced table for income up to €1,700/month and a general table for higher income. Net income is calculated as revenue minus business expenses minus an additional 7% reduction for sole traders (3% for autónomos operating through a company). Each bracket has a minimum and maximum contribution base, within which the taxpayer chooses a specific amount. At year-end, Social Security reconciles the forecast against actual income declared in the IRPF return: underpayment triggers a surcharge of 10% for the first month of delay and 20% thereafter, while any overpayment is refunded. Newcomers should build in a margin by choosing a bracket slightly above their forecast to avoid penalties at regularisation.
