Correction
This article was rewritten on 7 November 2026. An earlier version described a separate 2025 instruction manual, a sub-code "RT.40-B" for remote-work income, a sworn-translation requirement for foreign payslips and a rule that taxed equity awards in full when they vest in Spain. None of that appears in the AEAT instructions or in the law, and the equity rule contradicts the DGT. We apologise for the error.
Modelo 151 is the annual personal income tax return of anyone under the Beckham Law (article 93 of the Personal Income Tax Law, LIRPF). For tax year 2025 there is no new form and no new instruction manual: the AEAT publishes a single set of instructions "for tax year 2023 and following years", prepared, in its own words, "taking into account the rules in force since 1 January 2023". This is what those instructions and the law actually say, and what the DGT has decided on the points that most often cause confusion.
Key points
- The form was approved by Order HFP/1338/2023 (BOE of 15 December 2023) and has been used since tax year 2023. Tax year 2025 uses the same instructions.
- Rates (article 93.2.e LIRPF): 24% up to 600,000 euros and 47% above. Dividends, interest and capital gains have their own scale, with a top rate of 30% above 300,000 euros from 2025.
- All your employment income during the regime is treated as obtained in Spain; other income only when the Non-Resident Income Tax Law treats it as Spanish-source.
- RSUs and stock options are not taxed in full just because they vest while you live in Spain: the DGT taxes the part that corresponds to work performed after the move (V0425-25, V1639-26).
- There is no special code for a foreign employer, and the instructions do not require sworn translations of payslips.
Which rules apply to tax year 2025
Order HFP/1338/2023 approved Modelo 151 and Modelo 149 in their current form. Its article 2 makes the return compulsory: taxpayers to whom the special regime applies "shall be obliged to file and sign" it, as article 114.4 of the Personal Income Tax Regulation also states. The instructions add that, when there is nothing to pay or refund, you tick the box for a nil result. In other words, being in the regime means filing every year, even if the result is zero.
The deadline is the general one for income tax returns. For tax year 2025, Order HAC/277/2026 set it from 8 April to 30 June 2026, and the AEAT taxpayer calendar lists Modelo 151 with the 30 June deadline and 25 June for direct debit. You can read how the deadline and late filing work in our article on the Modelo 151 deadline.
Rates: the general scale and the savings scale
Article 93.2.e) LIRPF splits the tax base in two. Income other than dividends, interest and capital gains is taxed at 24% up to 600,000 euros and 47% from 600,000.01 euros. Dividends, interest and gains (the income in article 25.1.f of the Non-Resident Income Tax Law) follow a separate scale:
| Savings tax base | Rate |
|---|---|
| Up to 6,000 euros | 19% |
| 6,000 to 50,000 euros | 21% |
| 50,000 to 200,000 euros | 23% |
| 200,000 to 300,000 euros | 27% |
| Above 300,000 euros | 30% |
The 30% band was introduced by Law 7/2024 with effect from 1 January 2025, so tax year 2025 is the first return where it applies. Two other rules of the regime matter when you fill in the form: income is taxed item by item "without any offsetting between" items (article 93.2.c), and the ordinary resident deductions do not apply, because the tax is calculated under the Non-Resident Income Tax rules (article 93.2). The DGT applied this to the state deduction for energy-efficiency works in V2199-25.
Employment income from a foreign employer
Article 93.2.b) treats "the entirety" of your employment income during the regime as obtained in Spain, wherever you work and whoever pays you. On the return, employment income is declared with the details of the payer (tax ID and name). The instructions provide boxes for employment income "obtained and taxed abroad" and for the tax paid abroad, which are only filled in when part of that income was also taxed in another country. There is no specific sub-code for remote work or for foreign employers.
Your employer also has to withhold correctly: the withholding rate is 24%, and 47% on the excess when the same payer pays more than 600,000 euros in a year (article 93.2.f; V1971-25).
RSUs and stock options: what the DGT actually says
The previous version of this article claimed that shares vesting while you are resident are Spanish-source income in full, wherever they were granted. The DGT says otherwise:
- In V0088-19 and V0425-25, RSUs that reward work performed entirely abroad before the move are not taxed in Spain, even if they are delivered after you arrive.
- In V1639-26 (19 June 2026), stock options granted before the move and vesting during the regime are taxed in Spain only on the proportional part that corresponds to the period between the date of the move and the vesting date, with a deduction for tax paid abroad on that income.
- In the same ruling, the later sale of the shares of the US parent company is not treated as obtained in Spain, because article 13.1.i) of the Non-Resident Income Tax Law only treats as Spanish-source the gains it lists, such as those on securities issued by Spanish residents, and none of them applies. V2195-22 reaches the same result for shares in a UK company.
So the information you need is the grant date, the vesting dates, the date you moved and the value of each tranche. The Modelo 151 instructions themselves do not deal with equity plans.
What does not change
- The main taxpayer under the regime does not have to file Modelo 720 on foreign assets, according to V0092-14. A spouse or children who are ordinary residents do.
- For wealth tax, article 93.1 provides that the taxpayer is liable only on assets located in Spain (real obligation).
- Filing Modelo 100 by mistake does not mean you have given up the regime: you correct it and file Modelo 151 (V1921-25).
Frequently asked questions
Is there a new Modelo 151 or a new instruction manual for tax year 2025?
No. The form approved by Order HFP/1338/2023 has been used since tax year 2023, and the AEAT publishes a single set of instructions for tax year 2023 and following years. What changed for 2025 is the savings scale: Law 7/2024 added a 30% rate for savings income above 300,000 euros from 1 January 2025.
Are RSUs taxed in full in Spain if they vest while I live here?
Not necessarily. In V0088-19 and V0425-25 the DGT does not tax RSUs that reward work performed entirely abroad before the move. In V1639-26 it taxes stock options granted before the move only on the part proportional to the time between the move and the vesting date. The result depends on your grant and vesting dates.
Do I need a sworn translation of my foreign payslips to file Modelo 151?
The Modelo 151 instructions contain no such requirement. The return asks for the details of the payer of your employment income. If the tax office reviews your return, it may ask for documentation, but there is no general rule requiring sworn translations to file.
Do I have to file Modelo 151 if I had little or no income in Spain?
Yes. Article 114.4 of the Personal Income Tax Regulation and Order HFP/1338/2023 oblige every taxpayer to whom the regime applies to file it. If there is nothing to pay or refund, the instructions provide a nil-result box.
If you want your 2025 or 2026 Modelo 151 prepared with the equity and foreign-income analysis done line by line, DPLL Tax & Legal, an AEAT Social Collaborator firm based in Barcelona, can help. The usual mistakes are in our article on common Modelo 151 mistakes. Start with a free 10 minute call.