TaxDown, the application to make the income declaration correctly and ensure maximum savings

On April 7, the period to present the income statement in Spain begins. Given the exhaustion of the pandemic, the priority for most Spaniards is focused on two aspects: doing it digitally and that the Treasury returns them as much money as possible.

How can both things be achieved taking into account that this campaign the ERTES will affect taxpayers’ taxation?

If, in addition to making the declaration online, we were guaranteed the maximum possible return and, on top of that, we did it quickly and easily, it would be a great saving of time and money. Well, it’s been three years since TaxDown was born. A startup that has implemented a revolutionary way to file income tax returns in Spain online. They do it thanks to the fact that it has a powerful software that applies the deductions that the draft of the Treasury does not contemplate.

In Economipedia we have spoken with the founders of the company to be able to analyze their procedure and thus be able to facilitate the economy more to all our readers. After talking to them, doing tests and harassing them with questions to see how the platform works, we think it is a very efficient way to make the statement. The Tax Agency should think the same, since TaxDown is a social partner of the agency itself.

Until a few years ago, hiring a tax advisor had a very high cost that few people could bear. However, new technologies have allowed these entrepreneurs to create a tool that ensures maximum savings in the income statement and online. All this, in less than 15 minutes and with 9 questions. In addition, they have created a PRO plan, by which you can have a review done by an advisor, and support once the return is presented in case anything happens.

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According to company sources, this application saved its users an average of almost 500 euros last year. Many of the users were people who are not required to file income tax returns. But precisely those who are most likely to return.

100% online tax advisers

Due to COVID-19, filing the income statement electronically is the safest and easiest thing to do. The Tax Agency has the Renta Web program to complete the draft and confirm the return. But not all possible deductions are applied automatically in this tool.

It is for this reason that three years ago, some young Spaniards launched the TaxDown application. With the aim of putting in the hands of the taxpayers a simple and efficient tool that returns to the taxpayer what is theirs. But, above all, that it assures you the largest possible tax refund. Fundamental aspect that the public tool of the Treasury (Renta Web) does not assure you.

Without any need for tax knowledge and, with an average of 9 questions, the platform created by TaxDown achieves substantial improvements to the initial draft. With total security, since they are approved as social collaborators of the AEAT.

Maximum savings compared to the draft of the Treasury

The draft proposed by the AEAT does not contemplate, in most cases, the different deductions for each autonomous community. For example, those related to the family (children, maternity, nursery, books, material, large family, etc.) and housing (deductions for rent for young people, home purchase). Which are the ones that can lead to the greatest savings.

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According to the data extracted from the Transparency Portal, it is estimated that almost 6 million Spaniards confirm the draft of the income without applying the regional deductions due to ignorance. Either because of confidence in the draft provided by the Treasury or because not everyone has the necessary resources to hire an advisor.

And this year in particular, it would not be surprising if the number of people who confirm the draft of the rent without reviewing it increases. Given the needs to recover liquidity after the pandemic.

That is why from Economipedia we recommend always carefully reviewing the draft, to see how much we can save. And if we do not have much tax knowledge and we want to save time, the TaxDown application does that for us in a simple way and well done.

The TaxDown tool detects all the regional and state deductions applicable to each case and improves the result of the draft for all taxpayers who use it.

Specifically, last year, TaxDown, managed to save its users more than 4 million euros. Which is an improvement for some incomes of up to 500%.

This year, the online service is available in all the communities of Spain, except the Basque Country, Navarra, Ceuta and Melilla. According to the company itself, they plan to exceed the total savings from last season to benefit taxpayers. Which is an important fiscal stimulus for many families.

The tool offers for free, simulate and calculate your best result with TaxDown. If you want to be presented with the income statement, advice from an expert, or a review before filing, you can become a PRO client for only € 35 in its App or its website. If you also use the code ECONOMIPEDIA10 or access through this link, you will have almost a 30% discount and you will only pay 25 euros.

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Today, it is the only 100% digital alternative to the program that the Tax Agency offers to all taxpayers.

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