Income Tax Return. Wealth Tax. Solidarity Tax on Large Fortunes. 2024

ESCURA would like to inform you that the filing period for the 2024 Personal Income Tax (Impuesto sobre la Renta de las Personas Físicas) and Wealth Tax returns has begun.
You may file these returns until June 30, 2025, unless you choose direct debit for the tax payment. In that case, the filing deadline is June 25, 2025.

Below is a reminder of the documents required to prepare your returns.

1. BASIC DOCUMENTS FOR THE PREPARATION OF TAX RETURNS (*)

Copies of ID cards or Tax ID numbers (D.N.I. or N.I.F.) for the members of the family unit and any other members eligible for a deduction, where both the ID number and the document’s expiration date are legible.
We also need the following personal information:

Marital status. In the case of marriage, specify the marital economic regime.
Members of the family unit: spouse/partner, dependents (children or ascendants). Please specify if they live with you.
Any disability affecting a member of the family unit, and if so, the degree of disability.
Address of your primary residence and ownership status (1. Owner, 2. Usufruct, 3. Tenant, 4. Other).
Autonomous Community of residence in 2024.
Spanish bank account number of which you are a holder, for the purpose of refund or payment of the tax return.
If we did not prepare your 2023 tax return, please provide a copy of the 2023 return you filed. Should we not have prepared your 2023 Wealth Tax return either, please also provide a copy of that return.

2. INCOME ITEMS

WORK INCOME

- Company or pension certificates detailing monetary and in-kind income received.
- Social security contributions, fees paid to professional associations, trade union dues, and legal defense costs.
- Certificates for teaching courses, board-member pay, severance or compensation, pension plan benefits, or employer contributions to social welfare systems.

INVESTMENT INCOME (CAPITAL MOBILIARIO)

- Bank certificates (banks, savings banks) showing balances and interest received, and information about securities (stocks, government debt, promissory notes, investment fund values, shares in non-listed companies, etc.). Insurance policies. Dividends from companies (listed or unlisted).

COMPANY OPERATIONS

- Mergers, spin-offs, exchanges of shares, non-cash contributions of business branches, non-cash contributions of other assets.

REAL ESTATE

- Public Deed of sale/purchase, cadastral reference, and assessed cadastral value of the property for 2024.
- 2024 local property tax (IBI) receipts for properties owned by the taxpayer.
- If the property is rented, provide the rent amounts received and associated expenses for 2024, as well as the tenant’s Tax ID and date of birth and the date the lease was signed. Include a copy of the lease agreement.
- Please indicate if any of the properties you own is your main residence.

BUSINESS, PROFESSIONAL, AND ARTISTIC ACTIVITIES

- Supporting documents for income and expenses, as well as withheld taxes and quarterly payments made.

CAPITAL GAINS AND LOSSES

- Sales of real estate, securities, investment funds, etc.: include cost and purchase date, sales price and sales date, as well as ancillary purchase and sales expenses (taxes, capital gains tax, notary, registry fees, etc.). Copies of the purchase and sales deeds.

OTHER

- Contest prizes, amounts from forfeited deposits if the transaction was never finalized, grants or subsidies, late payment interest, capital gains deemed undeclared by the tax authority as they consider them unreported income.

3. OTHER SUPPORTING DOCUMENTS

Income received by ascendants and/or descendants who live with the taxpayer.
Contributions to mutual societies and pension plans.
Spousal maintenance or alimony payments.
Contributions to a protected estate for individuals with disabilities.
Charitable donations.
Investment in main residence: mortgage interest and principal, loan reference number.
Rental of main residence.
Surrender value of life insurance policies.
Business investments, especially in newly created companies.
Historical heritage assets.
Payment of interest on master’s degree loans.
Rehabilitation of main residence.
Foreign-sourced income and taxes paid abroad for such income.
Nursery/childcare costs.
Costs of improving the energy efficiency of the residence.
Purchase of an electric plug-in or fuel-cell vehicle.
Installation of charging infrastructure for electric vehicles.
Cryptocurrency transactions.
Purchase of electric vehicles or installation of charging points.
Works to improve energy efficiency.

4. WEALTH TAX

Please note that the Wealth Tax (Impuesto sobre el Patrimonio) remains in effect for 2024; thus, we will need information on your net worth as of December 31, 2024. Likewise, the Temporary Solidarity Tax on Large Fortunes (IGF) remains in force for 2024, which may have a greater impact in Autonomous Communities where the Wealth Tax is discounted or subsidized.

Assets and rights owned by the taxpayer, valued at 12/31/2024
- Real estate
- Assets and rights linked to business activities
- Checking or savings accounts, demand or term deposits, other account-based financial investments
- Securities representing loans to third parties
- Securities representing ownership interests in any kind of entity
- Life insurance
- Temporary or lifetime annuities
- Vehicles, jewelry, luxury furs, boats, and aircraft
- Artwork and antiques
- Usufruct rights (except for the habitual residence of the taxpayer)
- Administrative concessions
- Rights related to intellectual or industrial property
- Contractual options
- Virtual currency holdings
- Any other assets or rights with economic value
Liabilities, mortgages, and other credit positions as of 12/31/2024.

We also remind you that you must provide this information regarding not only assets located in Spain but also abroad.

(*) This list is not exhaustive. Depending on each individual’s situation, additional documentation not mentioned in this document may be requested.