We are pleased to announce the release of EasyPay V21.20. This new update includes all the tax changes that were announced last week as part of the Gibraltar Government’s Budget announcement.
We recommend that all customers upgrade as soon as possible to EasyPay V21.20. EasyPay users can upgrade automatically by going to the Help Menu within Easypay and selecting “Check for Updates”
The official tax changes were summarised in an update to the Gibraltar Income Tax Act 2010 here
The official update Gibraltar Income Tax tables were released yesterday here
In summary, the tax changes increase tax for most employees by 2%. All employees earning over £11,450 per year are affected. (Any person earning less than this amount should not be subject to tax as per previous years). The tax liability for HEPSS also increases to 43,140 per annum. There are no changes to social insurance calculations.