It is also set per day: 40.70 euros in 2026, under Royal Decree 126/2026. If you are on the flat rate and your net income stays below the SMI, you request the 12-month extension before your first year ends.
In practice the SMI matters little to an autónomo as a salary, since you do not get a payslip, but it shows up in several procedures. The flat-rate extension is requested from Social Security by declaring that your expected net income will stay below the SMI, and it is later checked against the real figures in your income tax return. If you end up above it, you may be asked to pay back the difference in contributions. And if you hire someone, the SMI is the floor for their salary unless the collective agreement sets a higher one.
Typical mistake: comparing the SMI with what you invoice. What counts is net income, meaning revenue minus deductible expenses, not your sales figure. Another mistake is assuming the extension happens on its own: you have to request it in time.
The SMI is linked to the self-employed quota, the contribution base, and IRPF (personal income tax), where your real income for the year ends up. In kontora you keep double-entry books and see your accumulated net income, which helps you know early whether you will stay below the SMI.
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