If you don’t submit the forms on time (especially Form 149 to qualify for the regime), you could lose the possibility of benefiting from the Beckham Law. This means that you would have to pay taxes as an ordinary tax resident, with progressive rates of up to 47% depending on your income, instead of the fixed rate of 24%. It is important to have a tax advisor like Pellicer&Heredia to not miss the deadlines and take advantage of the tax benefits offered by the regime.