Time certainly does fly and here we are at the end of another payroll year already!
As it is that time of year, we thought we would include some information about the year end. All employers need to do a submission before 31st July 2023.
However, before starting the submission, all employers should first check their payroll data is correct and up to date. Obviously the best time to do this is after completing their last payroll for the current tax year.
The easiest way to check the payroll data is to run the old report “Form P8 Page 2” under Company Reports on the Payroll screen. If you run this report, EasyPay will also check your data and identify any common issues such as missing tax references.
If the information all looks ok, Employers can submit their files to the Tax office.
All employers need to submit their annual tax submission (P8 XML File), P10 Form & P12 form by 31st July 2023.
Instructions are included below on how to produce the annual tax submission (p8 XML file).
For the P10 and P12, these files can be produced in EasyPay and sent to the tax office by email to: employerforms@gibraltar.gov.gi
The P12 Pension Summary form can be produced from Company Reports in the Payroll section Of EasyPay.
The P10 Benefits In Kind form can be produced from the Benefits In Kind section of EasyPay.
The annual tax statement (P8) XML file for the tax office
You will find the option to do this in the Payroll section of EasyPay. The menu option is under Year End on the Payroll options drop down menu at the top. It’s called “Online Tax Submission”.
To produce the file you will just need to enter a few details and then you can click the button to Generate Tax Submission file. This file will need to be submitted to the tax office website. You can use this link to be go directly to the website.
If the file is rejected, you will receive an email with a list of rejections. Don’t feel rejected or alarmed if your file is rejected! It is actually fairly common. The rejection could be due to a number of common reasons. Such as:
- An employee did not register with the tax office when they started employment with you.
- Employees paid the wrong amount of social insurance on one or more payslip(s). This can happen for a few reasons such as a manual adjustment or because social insurance rates changed. (Remember the Social insurance rates changed in August 2022. If the EasyPay software was not updated in July 2022 then its possible payslips were created for august 2022 with the wrong rate.)
- An employee did not notify the payroll department that their social insurance code changed.
- An employee turned 60, but their social insurance code did not get amended in payroll to PN.
- An employee tax reference number is incorrect.
- A student is on Social Insurance code SW but did not request SW status.
- An employee went on maternity leave and received maternity credit (MC) for more than 18 weeks.
You will need to rectify any issues in your payroll and then regenerate the file to submit again.