New Tax Changes Announced – Update to V19.90

There have recently been changes to Tax and Social Insurance. We would therefore like to ask all EasyPay users to update their systems to the latest version of EasyPay. The current software version is V19.90.

You can update EasyPay automatically by going to the Help Menu and selecting “Check for updates”. In some cases, network restrictions may prevent you from performing an automatic update. To update the software manually please refer to our website at https://www.easypay.gi/downloads

Tax Changes for 2021

Last week, as expected, the Gibraltar Government announced tax changes in Parliament. The changes announced so far, from a payroll perspective, were for people who have CAT 2 and HEPSS status. These tax changes take effect 1st August 2021.

For CAT 2, the minimum tax payable has increased to £32k per annum. The Tax Cap has increased to £37,310k.

For HEPSS, individuals will now need to earn more than £160k to continue to qualify for HEPSS. The tax payable per annum has increased to £39,940.

There have also been increases to personal tax allowances such as Nursery allowance, blind person’s allowance; child educated abroad; single parent family; parent of a disabled individual and age allowance. Any individual in receipt of these tax allowances will be issued a new tax code by the Tax Office in the next few weeks which reflects the increased allowances. These adjusted tax codes will be sent out by mail.

Tax Changes to ABS and GIBS

At the current time, no other tax changes have been announced for 2021. It is possible that further changes may be revealed in the next few weeks. We will incorporate any changes as soon as they are announced. We therefore ask that all EasyPay users update frequently over the next month to ensure they have the latest version with the latest tax rules.

Social Insurance Changes

We would like to remind Employers that, further to the Government announcement on the 24th June 2021, Social Insurance rates have increased from 1st July 2021. A copy of all the new rates is available here

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