Your tax obligations aren’t over yet

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Many taxpayers breathe a sigh of relief after filing their income tax return. But if you're self-employed or carry out any kind of independent economic activity, the income tax return is just one part of the fiscal year.

The Treasury keeps tax obligations active throughout the entire year, and July is one of the most important months to meet your responsibilities. In this article, we explain what comes after filing your income tax return, what to do if you missed the deadline, and how to avoid common mistakes that could lead to penalties.

 

Are you self-employed or working on your own? Let’s keep reading

Quarterly tax declarations: stay on track

If you’re registered as self-employed or file taxes as an individual with economic activity, you must keep submitting the mandatory quarterly forms. In July, the second quarter of the year is declared, and these are the main forms you need to file

• Form 130: IRPF installment payment

• Form 303: quarterly VAT declaration

• Form 349: if you’ve made intra-community transactions

• Form 111: if you withhold taxes from professionals or employees

• Form 115: if you pay rent for your premises and must withhold tax

Deadline to submit these forms: July 20th.

Submitting late results in surcharges starting at 1% per month, and in more serious cases, additional interest and penalties may apply if there are errors or repeated delays.

 

Accounting and invoicing: more than just forms, it’s documentation

Submitting forms is not enough. The Treasury can request at any time that you provide:

• Issued and received invoices, numbered and verifiable

• Updated books of income, expenses, and investment assets

• Documentary proof of expenses you declare as deductible

• Clear separation between your personal finances and your professional activity

One of the most common mistakes is assuming that “just submitting the forms is enough,” when in reality, the documentation obligation is just as important.

At InnoTaxes, we regularly advise self-employed workers who receive a request from the Treasury for not keeping their books updated or for deducting expenses that are not properly justified.

 

Did you change anything in your activity? Remember Form 036

Did you move your tax address? Did you expand your activity or cancel part of it? Any relevant change must be reported to the Treasury through Form 036.

Failing to inform these changes can cause inconsistencies in your tax data, trigger automatic requests, and even lead to blocks or preventive penalties if non-compliance is detected.

 

Annual tax declarations: don’t forget them

Although it may seem far away, the start of the new year brings annual tax obligations that require having your accounting in order:

• Form 390: annual VAT summary

• Form 190: summary of withholdings applied

• Form 347: transactions with third parties exceeding €3,005.06 per year

Una buena planificación desde ahora puede ahorrarte errores, correcciones urgentes y pérdida de tiempo en enero. En InnoTaxes ayudamos a nuestros clientes a cerrar cada trimestre con orden, lo que facilita el trabajo al cierre del ejercicio.

Good planning from now on can save you from errors, urgent corrections, and wasted time in January. At InnoTaxes, we help our clients close each quarter in an organized way, making year-end work much easier.

 

What if you didn’t file your Income Tax Return?

If you missed the deadline, you can still file late. However, the longer you wait, the higher the automatic surcharges you’ll have to face:

• 1% initial surcharge, plus an additional 1% for each full month of delay

• Possible loss of the right to refunds if you were owed money

• Risk of a formal notice, late interest charges, or even fines for not filing

Also, if you file your return late with errors, those mistakes can carry over for years, affecting your future filings.

Por eso, si estás en esta situación, es fundamental hacerlo con asesoramiento fiscal especializado.

That’s why, if you’re in this situation, it’s essential to do it with specialized tax advice.

 

Conclusion: The Treasury doesn’t rest after tax season (and neither should you)

The Income Tax Return is only one part of your overall tax compliance. If you're self-employed or work independently, your tax obligations stay active all year round.

July is a key moment: forms must be filed, records updated, and decisions made that will impact the rest of your fiscal year.

 

Do you need help?

En InnoTaxes te ofrecemos asesoría fiscal integral para:

• File your quarterly forms correctly

• Regularize your Income Tax Return if you missed the deadline

• Keep your accounting updated and well organized

• Avoid mistakes that could lead to penalties

We offer personalized plans for self-employed workers and professionals.

Request your consultation here and start complying with peace of mind.