Next April 8th officially begins the Income campaign 2025. Many taxpayers do not pay all the attention it deserves to their return. Therefore, in practice, the same errors are repeated each campaign and the new features of each campaign are unknown. Here is a guide to avoid paying more taxes than necessary or taking risks with the Administration. Among the main novelties of this year, as highlighted by the Study Office of the Spanish Association of Tax Advisors AEDAF, is that the application itself will detect the relevant information on ascendants and descendants so that the declaration states whether or not deductions should be applied. Furthermore, it has modified the last section of the rate applicable to the taxable base of personal income tax savingswhich affects the returns on movable capital (such as interest and dividends) and capital gains (such as the sale of shares, funds, cryptocurrencies or real estate) that are integrated into the savings base. Thus, the maximum state marginal rate, which applies to the part of the taxable base that exceeds 300,000 euros, will go from 14% to 15%. For their part, for those taxpayers who have their habitual residence abroad, the maximum marginal rate applicable on the taxable savings base rises to 30% (compared to 28% previously). The program itself also calculates the minimum yield for rentals to family members, something that until now was the responsibility of the taxpayer. Among the new developments, regarding the self-employed, are incorporated two new boxes to reflect the adjustments of contributions in direct estimation. The breakdown for declarations in agricultural sector modules and other activities is expanded, and new boxes are included to reduce the return of subsidies in these cases. Another novelty affects the equity gains from prizes, ETFs and SICAVs. There will be two new boxes to declare capital gains obtained from prizes, depending on whether they are for advertising purposes (box 0360) or not (box 0361). A new section is also added to record capital gains from exchange-traded funds (ETFs) and SICAVs, in addition to facilitating the automatic transfer of the data corresponding to said gains. Finally, tax incentives for investment in sustainability (electric vehicles, reforms aimed at energy efficiency, etc.) are maintained and A new deduction is added for the lowest incomesto compensate for the effect that the increase in the Minimum Interprofessional Wage, set in 16,576 euroscould have on disposable income. These are some of the changes that the income tax return brings this year. But the annual appointment with the Treasury, beyond being a formal obligation, should be understood as an opportunity to rigorously review our economic and patrimonial situation. However, whether due to ignorance, others to lack of review, and many to excessive confidence in the draft, Every campaign the same mistakes tend to be repeated. The Ibercaja Fiscal team analyzes the most common mistakes and how to avoid them. The first is not checking if you are obliged to declare or if it is convenient for you to do so. Not everyone is required to file the Income Tax return, but that does not mean that it should not be reviewed. In general, those who obtain work income less than 22,000 euros per year with a single payer. It is considered that there is only one payer when, there being several, the second and remaining do not collectively exceed 1,500 euros (2,500 euros for accruals produced between January 1 and 22, 2025). Otherwise, a declaration will have to be submitted when the sum of the work income exceeds the 15,876 euros. If other types of income are obtained, it will be necessary to review the corresponding limits. However, there are situations in which Yes, there is an obligation to submit the declaration regardless of incomesuch as recipients of the Minimum Living Income or those who have been registered as self-employed at any time during the year. In relation to the unemployed, this year they will finally not have to submit the mandatory declaration. In any case, even without obligation, It is worth reviewing the draftsince when the result is to be returned, it will be convenient to present the declaration. Precisely, the second error is accept the draft without checking it. The draft has greatly simplified the process, but it has also created a false sense of security. The Tax Agency prepares this document with the available information, but This information is not always complete or correctly processed.. This means that many taxpayers confirm the draft without checking whether income or expenses are missing, whether personal details are correct or whether all possible deductions are being applied. There are certain concepts that, by their nature, do not usually appear automatically. The third mistake is not review or update personal and family data. Personal income tax is a tax that is very sensitive to your personal situation. Elements such as age, marital status or the composition of the family unit directly affect the final result. It is also common not to review other relevant data, such as the tax domicile, especially if there is a change of autonomous community, the degree of disability of the taxpayer or their family members or the correct identification of the properties, percentage of ownership and ownership. They are apparently minor errors, but with a direct impact on the fee to be paid. The fourth mistake is miss state deductions due to ignorance. The application of deductions is one of the main instruments to reduce the tax bill, but many are wasted. In many cases, the problem is not that there are no tax benefits, but that the requirements are not reviewed or the necessary documentation is not available to apply them correctly. The fifth mistake is forget the regional deductions, where a large part of the savings is. Each autonomous community regulates its own deductions that do not appear in the draft. This forces the taxpayer to actively review them. These deductions may include housing rent, transportation, educational expenses, health expenses or sports or wellness activities, among others. Furthermore, new features are added every year, so it is important to review the regulations in force each year. The sixth error has to do with the capital gains and losses. This is one of the most complex sections of the declaration and where the most errors are concentrated. Another relevant error is not compensating losses from previous years. Unapplied capital losses can only be offset over the next four years, so poor planning can cause them to be lost permanently. The seventh mistake is Do not check if you can apply special tax regimes. Many taxpayers overlook the existence of specific regimes that can significantly improve their taxation. In the case of self-employed workers in direct estimation with a turnover of less than 10 million euros, incentives can be applied for small companies, such as accelerated amortization, freely amortizing certain assets in the event of job creation, or even deducting a 1% impairment loss on the balance of debtors. We also have incentives for workers posted abroad, who can apply relevant exemptions on their work performance under certain requirements. Not knowing or reviewing the application of these regimes means, in practice, giving up tax advantages provided for in the regulations. The eighth mistake is leave the declaration until the last minute. The submission deadline ends on June 30, and failure to meet it has consequences. If the declaration is due to be paid and is presented before the Treasury claims you, a surcharge of 1% plus an additional 1% for each month of delay is assumed. After 12 months, the surcharge will be 15%, plus interest. If the Tax Agency demands the presentation, in addition to late payment interest, the AEAT may impose sanctions that can be between 50% and 150% of the debt. If you return, the penalty can reach up to 200 euros. Presenting in time allows you to review, correct errors and make decisions with greater margin. The ninth mistake is not having help when the situation requires it. Not all statements have the same level of difficulty. The margin of error increases considerably in certain situations such as the sale of real estate or financial assets, the performance of economic activities, the collection of public aid or changes of residence. Finally, think only about this statement and not the next one. This is probably the most important and least obvious mistake. Most taxpayers only think about the Income Tax when the campaign arrives, but the result of the tax is decided throughout the year. Therefore, the campaign is a good time to analyze what happened in 2025 and plan for 2026. The declaration should serve as a starting point for tax planning and is also the time to make strategic decisions with fiscal impact.
