Income Tax 2026: Everything you need to know before filing for the 2025 Tax Year

If you are reading this, it is because the filing period is now open, and you want to submit your tax return without missing out on a single Euro in deductions. Here is the definitive guide, updated with the latest regulations and specific tax benefits for the Valencian Community.

📅 2026 Tax Calendar: Don’t miss the deadline!

The campaign has officially begun. These are the dates you must mark in red on your calendar:

April 8: The period opens to file your draft online via the AEAT website or App.
May 6: Start of the phone assistance service (“Le Llamamos” Plan).
June 1: In-person assistance begins at AEAT offices.
June 25: Deadline for returns with a balance to pay if you wish to use direct debit.
June 30: End of the campaign. After this date, surcharges and penalties will be applied.

🧐 Are you required to file?

The Minimum Wage (SMI) has set new limits for this year:

Single payer: If you earned less than €22,000, you are not required to file (but check if you are entitled to a refund).
Multiple payers: If the second and subsequent payers total more than €1,500, the threshold to file drops to €15,876.
Self-employed (Autónomos): Mandatory filing. If you were registered in the RETA at any point in 2025, you must file regardless of your income.
Minimum Vital Income (IMV): All beneficiaries are required by law to file a return.

💰 National Updates: Impacting your pocket

The Tax Agency has reinforced certain incentives that you cannot ignore:

Energy Efficiency: Deductions between 20% and 60% for works in your primary residence that reduce heating demand or non-renewable energy consumption. (An energy certificate is mandatory).
Electric Vehicles: The 15% deduction remains for both the purchase of the vehicle and the installation of charging points.
Low-Income Relief: A new reduction of up to €340 for net income below €16,576.
Pensioners and Mutual Funds: If you worked in banking, trade, or the metal industry before 1978, check if the Supreme Court Ruling adjustment applies to you (it usually appears automatically, but verify it).

🍊 Valencian Community: Improved Deductions!

The Generalitat has increased the deduction amounts for this fiscal year. Important: Most of these aids require your taxable base not to exceed €30,000 (€47,000 for joint returns).

🏥 Health, Wellbeing, and Sports

This is the big news this year, with much higher percentages:

Health Expenses: 30% deduction (previously 5%) for dentist expenses, prescription glasses, contact lenses, and mental health. (Limits: €150 for dental and €100 for the rest).
Gym and Sports: General 30% deduction (max. €150). If you are over 65 or have a disability, it rises to 50%, and for those over 75, it reaches 100%.
Rare Diseases or Brain Damage: Specific deductions of up to €100.

🏠 Housing and Family

Rent: General 20% deduction (capped at €700). For those under 35 or with disabilities, it rises to 25% (capped at €950). If you are young and live in a municipality at risk of depopulation, the cap can reach €1,000 or €1,100.
Solar Panels: 40% deduction of the installation cost in your primary residence.
Birth and Conciliation: €300 per child born/adopted. 15% deduction for daycare centers and 50% of Social Security contributions for household employees hired for dependent care.

⚠️ Critical errors to avoid

The danger of the “quick click”: The tax draft usually does not include regional (autonomous) deductions. If you submit it without reviewing them, you are losing money.
Cryptocurrencies: The Tax Agency has more information than ever through Form 721. Any exchange or sale must be declared.
Cash Payments: For health deductions (dentist, glasses, etc.), the payment must be traceable (credit card or bank transfer). If you paid in cash, the Tax Agency may reject the deduction during an inspection.

💡 Golden Advice: If your situation involves the sale of shares, cryptos, multiple properties, or you are self-employed, professional help is the best investment to avoid fines.

Do you need professional help? At Firmalex, we speak your language (Spanish, Valencian, English, and German).

📍 Dénia: Plaza del Convento, 6 | 📍 Valencia: Calle Creu Roja, 1

✉ info@firmalex.com | 📞 +34 966 421 416 | 📱 WhatsApp +34 622 497 615

Disclaimer: This information is for informational purposes only. For complex cases, always consult with a qualified tax advisor.