We start the income tax campaign
As of today we officially start the Renta 2021 tax campaign at AGL. Although some of you have already asked us to download tax data in the last few weeks, we are now focusing on the preparation of your tax returns.
If you are interested in having us prepare your tax return, please contact Susana (fiscal@asesoriagarcialopez.es
Below we explain some of the most important changes for the 2021 income tax return, to be filed before 30 June.
Although there are no substantial novelties in the 2021 campaign compared to previous years, there are some changes to bear in mind when preparing this year’s tax return:
CRIPTOCURENCY: The surveillance of these investments is increased, and the capital gains or losses derived from their transfer must be declared, whether they are obtained in Spain or abroad.
SAVINGS INCOME: a new tax bracket has been created at a rate of 26% for savings income exceeding 200,000 euros (dividends, interest, capital gains, etc.).
PENSION PLANS: tax deductions for individual private pension plans will be reduced in 2021 to a maximum of 2,000 euros, while company pension plans will increase the limit to 8,000 euros.
DECLARATION OF COVID-RELATED AID: as in 2020, special care must be taken to correctly declare subsidies, benefits or other types of aid related to Covid (aid to the self-employed or people on ERTE, bonuses on self-employed quotas, etc.).
DEDUCTIONS FOR INVESTMENT IN ENERGY EFFICIENCY WORKS: three state deductions are introduced for energy efficiency works in taxpayers’ homes:
-A 20% deduction (with a maximum of 5,000 euros) for works that reduce heating and cooling energy demand by at least 7%.
A deduction of 40% (with a maximum of 7,500 euros) of the amounts paid for works to reduce by 30% the consumption of non-renewable primary energy or to improve the energy rating to grade A or B.
-A deduction for communities of 40% (with a limit of EUR 15,000) when works are carried out for a 30% reduction of non-renewable primary energy consumption or for the improvement of energy efficiency to A or B grade.
As in previous years, we advise you to check both the tax data provided by the Tax Agency and the possibility that some data (possible deductions for rentals or purchase of a primary residence in previous years, changes in the family situation, etc.), as well as other possible tax deductions, do not appear correctly in the calculations of the draft tax return.
If you are interested, we remain at your disposal for the preparation of your tax returns in the coming weeks, and you can contact us at fiscal@asesoriagarcialopez.es.
And remember, don’t leave it to the last minute!
Taxes in Spain – Form 720