The Renta 2025 income tax campaign is filed between April and June 2026 and covers income, capital gains and losses incurred during the 2025 tax year. Although Spain's income tax framework has not undergone a structural overhaul between 2024 and 2025, the 2025 tax year consolidates a set of accumulated legislative changes affecting employment income, the treatment of rented residential property, crypto asset taxation and energy efficiency deductions. This guide covers the most relevant issues for taxpayers, sole traders, company shareholders and directors who must file their return in 2026.
Official Renta 2025 calendar
The deadlines for the campaign corresponding to the 2025 tax year follow the standard AEAT framework:
- 2 April 2026: Online filing opens and the draft return and fiscal data become available via Renta WEB at the AEAT’s electronic office
- Early May 2026: Start of the Plan Le Llamamos for telephone-assisted filing. Taxpayers can request a call-back appointment for an AEAT agent to help them prepare and file the return over the phone
- Early June 2026: In-person appointments open at AEAT offices and at locations enabled by the Autonomous Communities. Appointments must be requested in advance — early June slots fill up quickly
- 25 June 2026: Last day to file returns with a balance due and a direct-debit payment instruction. The AEAT will not process direct-debit mandates submitted after this date
- 30 June 2026: Final closing deadline for all filing methods and results
Payment splitting remains available on the same terms as prior years: the taxpayer can pay 60% of the amount when filing and the remaining 40% by 6 November 2026, without surcharge or default interest. To benefit from splitting, the return must be filed before 30 June and the first instalment must be direct-debited or paid before 25 June.
The AEAT makes complete fiscal data available — withholdings, investment income, capital gains from investment funds, property imputations, Social Security and SEPE benefits — from 2 April. It is advisable to access the draft early to identify any errors or omissions before the deadline approaches.
Who must file a 2025 income tax return
The obligation to file applies, as a general rule, to tax residents in Spain who have received income above the following thresholds:
Employment income:
- Taxpayers with a single employer: obligation to file if employment income exceeds €22,000 gross per year
- Taxpayers with two or more employers, when the combined income from the second and subsequent employers exceeds €1,500: the threshold falls to €15,000 gross per year
- If the combined income from employers other than the main employer does not exceed €1,500, the general €22,000 threshold applies
Investment income, property investment income, capital gains and losses subject to withholding: threshold of €1,600 per year in aggregate for these types of income, provided they have been subject to withholding.
Imputed property income, Treasury Bills and housing purchase grants: limit of €1,000 per year in aggregate.
Income not subject to withholding: taxpayers with investment income, capital gains or any non-withheld income above €500 per year must file.
Regardless of the above thresholds, the following must always file:
- Those who have made pension plan contributions eligible for base reduction
- Those applying certain deductions (investment in new company shares, film production, double taxation relief)
- Those subject to the special impatriate regime (Beckham Law)
- Those with foreign asset declaration obligations (Form 720 or 721)
- Sole traders and business owners receiving any amount of business income
Key developments in the 2025 tax year
Consolidation of the 47% top marginal rate
The 47% top marginal rate for employment and business income above €300,000, introduced in 2021 and extended in subsequent years, applies in full for the 2025 tax year. Combined with the 28% savings rate for investment income above €300,000, this creates a strong incentive for high-income taxpayers and owner-directors to review their overall remuneration structure.
Rental property deductions: reformed system
The Housing Law transformed the deduction system for landlords of primary residential property. The previous flat 60% reduction has been replaced by a graduated system that rewards specific desired landlord behaviours:
- 90% reduction: new tenancies in declared stressed residential areas where rent is at least 5% below the previous tenant’s rent
- 70% reduction: first letting to young tenants (aged 18–35) in stressed areas, or properties accessed via government programmes
- 60% reduction: properties that have undergone significant renovation in the prior two years
- 50% reduction: default reduction for all other rentals, replacing the previous 60% flat rate
Landlords should verify which category applies to each of their tenancies and ensure their documentation supports the claimed reduction category.
Crypto assets: full DAC8 reporting in effect
The DAC8 directive obligates crypto asset exchanges and service providers to report transaction information to EU tax authorities. For 2025 income tax filers, the AEAT will hold comprehensive data on regulated exchange transactions without the need for prior requests. This effectively eliminates the information gap that allowed many crypto investors to under-report gains in prior years. The AEAT has signalled intensified scrutiny of crypto asset declarations.
Form 721 (declaration of foreign crypto assets) has its second full year of operation. The €50,000 threshold per category applies — taxpayers holding foreign crypto assets above this threshold must file Form 721 in the window from 1 January to 31 March 2026.
Personal and family allowances: updated amounts
The personal allowance, child allowance and dependent family member allowance have been updated for inflation. The updates are incorporated automatically into the AEAT draft return and affect the minimum income from which tax begins to be due.
Special considerations for owner-directors and shareholders
Owner-directors of Spanish companies face a specific challenge in the 2025 income tax return: the interaction between their personal income tax return and the company’s Corporate Income Tax return.
Key issues to review:
Remuneration structuring. Salary paid by the company to a sole shareholder-director is deductible for the company (reducing its CIT base) but taxable employment income for the individual. Dividends are not deductible for the company but are taxed in the savings base at 19–28% — typically lower than the marginal employment income rate for high earners.
Deemed income from related-party transactions. The AEAT continues to scrutinise transactions between owner-directors and their companies, particularly: loans with below-market interest rates, free use of company-owned assets, and services provided by the director at non-arm’s-length prices. These may be reclassified as deemed income or non-deductible distributions.
Tax loss carryforward from prior years. If the director personally had losses from business activities in prior years (2020–2024), verify whether they have been correctly tracked and are being applied in 2025.
Practical checklist before filing
Before confirming the Renta WEB return, verify:
- All income sources are correctly reflected (employment, investment, rental, business)
- All deductible business expenses have been entered (for sole traders)
- Social Security contributions paid during 2025 are included
- The Social Security regularisation top-up (if applicable) is deducted
- All applicable deductions have been applied: energy efficiency works, charitable donations, investment in new companies, pension contributions, housing purchase (for pre-2013 mortgages)
- Regional (Autonomous Community) deductions have been checked and applied
- Crypto asset gains and losses have been declared correctly and consistently with Forms 720/721
- Any carry-forward losses from prior years are being applied
- Payment splitting option has been considered if balance is material
How BMC can help
BMC’s tax advisory team supports individuals and sole traders through the annual income tax campaign: reviewing the draft, completing business income and expense sections, identifying deductions not captured by the AEAT system, and filing the return with the most favourable result permitted by the law. For owner-directors and shareholders with more complex situations — multiple income sources, international elements or significant asset transactions — we provide a comprehensive pre-filing review.
Contact us from 2 April 2026 onwards to arrange your return preparation session.
