The 2024 IRPF campaign begins on 2nd April 2025, and if you live in Benidorm or its surrounding areas, now is the perfect time to get up to date with the changes that this year’s tax return will bring. As every year, the process of filing the tax return can raise doubts, but with a little organisation and knowledge of the changes, it can be done easily and without surprises.
This year, the 2024 IRPF campaign brings several changes that taxpayers need to be aware of. Below, we present the most relevant ones, which could directly affect your tax return:
One of the main changes in the 2024 IRPF campaign is the update of the tax brackets. The Government has decided to make adjustments to the thresholds to align them with inflation, which could result in a reduction in the amount you need to pay if you are in one of the lower tax brackets. This could benefit many taxpayers, especially in areas like Benidorm, where the cost of living has risen in recent years.
The regional deductions for the tax return also undergo some adjustments in 2024. In the Valencian Community, where Benidorm is located, new tax incentives for housing rehabilitation have been introduced, which could benefit those who have carried out home renovations. Additionally, deductions for large families, people with disabilities, and other deductions related to the care of children and dependents remain in place.
If you are self-employed or run a small business in Benidorm, it is essential to understand the new measures applicable to your situation. In 2024, there have been modifications to deductible expenses, as well as improvements in the taxation of income from economic activity. It is advisable to consult with your tax advisor to ensure you are taking advantage of all the deductions to which you are entitled.
Another important change in the 2024 IRPF campaign is the reduction in tax rates for lower incomes. If your annual income is modest, you may see your tax burden decrease even further, which could translate into a higher refund on your tax return. This is great news for many families in Benidorm and surrounding municipalities who are facing financial difficulties due to the pandemic or the rising cost of living.
For couples, the limits for joint taxation have been increased, meaning that many taxpayers who previously could not access this form of taxation will now benefit from a lower tax burden. This could be especially helpful for families in Benidorm who choose to file their tax return jointly.
Now that you are familiar with the main updates for the 2024 IRPF campaign, it is important to follow a few tips to ensure that your tax return is as simple and beneficial as possible:
Filing your tax return correctly not only helps you avoid possible penalties or interest for incorrect payments, but it also allows you to take advantage of all the available deductions and tax benefits. In Benidorm, a major tourist destination, many people have additional income from activities such as property rentals. Don't forget that this income must be declared, and depending on your situation, you could benefit from specific deductions.
Furthermore, filing your tax return correctly will allow you to access potential refunds if you have overpaid during the year. Don't miss out on the opportunity to maximise your tax benefits, especially with the changes introduced in the 2024 IRPF campaign.
The 2024 IRPF campaign brings several updates that taxpayers in Benidorm and surrounding areas should keep in mind when filing their tax return. While some changes could be beneficial for taxpayers, such as adjustments to tax brackets and regional deductions, it is crucial to stay informed and make the most of the available tax opportunities. Remember, if you have any doubts, you can always count on the support of a tax expert to ensure your return is correct and advantageous.
