1 Navigating the Gibraltar Employment Tax and Social Insurance Minefield * and avoiding the common employer pitfalls
2 Content Introduction ti Registration of the employer Registration of the employee Social Insurance PAYE Benefits In Kind Cross Border Workers Pensions Reporting Calendar Important Dates
3 Navigating the Gibraltar Tax and Social Insurance Minefield * PricewaterhouseCoopers Gibraltar believes that no organisation should pursue commercial success without also considering ways in which to operate for the benefit of society on a global scale. In harmony with this ethos PricewaterhouseCoopers Gibraltar will be waiving their fee for this presentation and instead donating the funds to the Gibraltar Red Cross in order to support the relief work currently being given to the people of Haiti following the recent earthquake. Thank you very much for supporting us.
4 Registration of the employer Employment Service Tax Office & DSS
5 Registration of the employer The Employment Service ( ES ) Application for registration form has to be completed Certificate of incorporation of the Gibraltar company/branch Particulars of directors 50 fee N.B. Once registration approved ES issue a certificate which needs to be displayed at the employer s premises.
6 Registration of the employer
7 Registration of the employer Annual Notification Certificate of Registration with the ES has to be renewed annually One month before renewal is due, ES will send an Annual Notification form together th with a list of all active employees to be checked by employer Annual Notification form has to be completed and returned to the ES together with the old Registration Certificate 20 fee ES will then issue a new Registration Certificate to be displayed at the employer s premises
8 Registration of the employer
9 Registration of the employer cont d The Income Tax Office ( ITO ) & Department of Social Security ( DSS ) Copy of ES certificate of registration Certificate of incorporation of the Gibraltar company/branch Particulars of directors Details of company s activities iti and date when trading commenced No fee The ITO registers the employer and advises DSS (no need for separate registration). They then issue the employer with a starter pack. The starter pack contains company registration letter, guidance notes and PAYE & SI remittance slips.
10 Registration of the employee Employment Service Tax Office & DSS
11 Registration of the employee The Employment Service ( ES ) Notice of Vacancy has to be filed with the ES two weeks prior to employment beginning. Employer has to be aware that Vacancy has been filed with ES before advertised in the press (i.e. Gibraltar Chronicle) as ES will chase this up. Terms of Engagement form has to be completed (in triplicate) and filed with the ES. Terms of Engagement form will be processed and ready for collection the following day. ES will keep white copy of terms of engagement, blue copy is for the employer and the yellow copy is for the employee. N.B. Work Permit If the employee is not an EEA national a work permit will have to be obtained from the Employment Service. A visa may also be required in certain circumstances
12 Registration of the employee
13 Registration of the employee
14 Registration of the employee cont d Detached workers An employee who is not resident in Gibraltar and is in employment in a country outside Gibraltar (but within the EEA) and who is required by his employer to perform work of a temporary nature in Gibraltar in the course of his employment.
15 Registration of the employee cont d Detached workers Employer complete application form along with E101 form File with ES no later than five days before employment start date Fee of 50 payable NB if original employment is outside the EEA cannot apply for DW status
16 Registration of the employee cont d Detached workers
17 Registration of the employee cont d The Income Tax Office Employee needs to take stamped ES contract to tax office. Provide details of any allowances to which they are entitled e.g.: Insurance policies Property deeds Mortgage statements Marriage certificate Children s s birth certificates
18 Registration of the employee The Employment Service ( ES ) FAQs Inspections Variations of contracts Fines Directors/ Non Execs Terminations
19 Registration of the employee
20 Social Insurance
21 Social Insurance Why do we pay it? To fund: Old Age pension Unemployment benefit Maternity benefits Death grant and widow s benefit GHA group practice medical scheme Training levy Insolvency fund
22 Social Insurance cont d Who has to pay it? Contributions are required for all persons gainfully occupied in Gibraltar. Employees and employers need to contribute.
23 Social Insurance cont d Are there any exceptions? Individuals > 60 years old and those whose statutory retirement age is earlier (e.g. Fire & police officers) are exempt from the employee contributions not employer contributions. Employees making contributions in another EU state (E101) Students on holiday jobs Unpaid sick leave Maternity (18 weeks, need to apply) Married woman reduced contribution (prior to 31 Dec 1984 if husbands were paying SI)
24 Social Insurance cont d How are the contributions calculated? Employee - 10% of gross earnings subject to a minimum i of 5.00/ per week/month and a maximum of 23.74/ per week/month. Employer - 20% of gross earnings subject to a minimum of 15.00/ per week/month and a maximum of 29.97/ per week/month. Self employed contributions - 20% of gross earnings subject to a minimum of 10.00/ per week/month and a maximum of 27.43/ per week/month.
25 Social Insurance cont d Example 1 An employee with monthly gross earnings of : - (a) Employee Contribution (minimum monthly contribution rate) (b) Employer Contribution (minimum monthly contribution rate) Example 2 An employee with monthly gross earnings of : - (a) Employee Contribution x 10% = (b) Employer Contribution x 20% = Example 3 An employee with monthly gross earnings of : - (a) Employee Contribution (maximum monthly contribution rate) (b) Employer Contribution (maximum monthly contribution rate)
26 Social Insurance cont d FAQs Multiple jobs Directors fees/non execs
27 Personal Tax
28 Dual tax system You have the choice of being taxed under either an Allowances Based system or a Gross Income Based system and will pay tax in accordance with the system which results in the lower tax.
29 Dual tax system cont d ALLOWANCE BASED SYSTEM Under the Allowances Based system you would be taxed on your income less allowances at the applicable rates as follows: The first 4,000 of taxable income 17% The next 12,000 of taxable income 30% The remainder of the taxable income 40%
30 Dual tax system cont d Personal allowance 2,735 Deduction for spouse 2,560 Deduction for children Mortgage interest 100% House purchase for own residential occupation 15,500 Life assurance 100% 2 1 First child only 2 Allowable premiums up to 1/7 of assessable income or 7% of capital sum assured. Low Income Earners ( LIA ) Income < 19.5K eligible ibl for a LIA as follows: Income of 8,000 or less 4,000 Income of 8,000 to 17,500 1,300 Income of 17,500 to 18, Income of 18,500 to 19, Note : The above allowances are subject to a minimum allowance of 3,600.
31 Dual tax system cont d GROSS INCOME BASED SYSTEM The first 25,000 of taxable income 20% The next 75,000 of taxable income 29% The remainder of the taxable income 35% If your gross income does not exceed 16,000 per annum, the first 10,000 of taxable income will be taxed at the rate of 10% with the balance at 20%. If your income is between 16,000 and 25,000 you will be taxed at the following rates, with the balance at 20%: Income of 16,000 to 17,000, on the first 5,000 0% Income of 17,000 to 18,000, on the first 4,000 0% Income of 18,000 to 19,000, on the first 3,000 0% Income of 19,000 to 20,000, on the first 2,000 0% Income of 20,000 to 25,000, on the first 1,000 0%
32 Dual tax system cont d SCENARIO A Annual salary of 30,000 Allowances 10,000 ALLOWANCE BASED SYSTEM GROSS INCOME BASED SYSTEM Income 30,000 20% = 5,000 Less Allowances (10,000) 29% = 1,450 Assessable Income 20,000 17% % 3,600 40% 1,600 20,000 5,880 30,000 6,450
33 Dual tax system cont d SCENARIO B Annual salary of 16,500 Allowances 3,600 ALLOWANCE BASED SYSTEM GROSS INCOME BASED SYSTEM First 5,000 tax free Income 16,500 Less Allowances (3,600) 20% 2,300 Assessable Income 12,900 17% % 2,670 12,900 3,350 11,500 2,300
34 Which tax system best suits your employees? Depends on their individual circumstances Income Tax Office will inform them Government website calculator - Featured items Gross Income Based Tax Calculator GIB application form also on the website
35 Which tax system best suits your employees? ALLOWANCE BASED SYSTEM GROSS INCOME BASED SYSTEM ASSESSABLE INCOM 30,000 GROSS INCOME (including Benefits-in-kind) (including Benefits-in-kind) 30,000 ALLOWANCES 3,600 TAXABLE INCOME 26,400 0% - 17% % - 30% 3, % 5, % 4, % 1, % - 26,400 30,000 TAX PAYABLE 8, TAX PAYABLE 6,450.00
36 HEPSS Navigating the Gibraltar Employment Tax and Social Insurance Minefield * Introduced as cost saving incentive for companies recruiting senior executives. Taxable income capped at 100K, so tax is 26,750 p.a. Existing Cat 3 certificate holders; Earn more the 100K pa; Possess skills not available in Gibraltar; Necessary to promote and sustain economic activity of particular economic value to Gibraltar; High executive or senior management position; Not employed or resident in Gibraltar for prior three years; and Approved property in Gibraltar Application to be made to the Finance Centre Director
37 Short term assignees Unwritten rule - register for tax and SI if working in Gibraltar for longer than one month. We would recommend that the following conditions be met: Employed in the home jurisdiction Paid from the home jurisdiction, no recharge to the local l Gibraltar company Not have permanent residence Contact the ITO to discuss on a case by case basis.
38 Payment of tax/paye For employees, collection of tax is initially through a Pay As You Earn PAYE system. Every employer paying emoluments to an employee is required to deduct from the amount of emoluments a specified amount of tax according to each employees tax code. Payment is due by the 15th day of the following month. At the end of the year of assessment the employer is obliged to make a return of the employee s emoluments and tax deducted together with the payment of any outstanding tax.
39 Payment of tax/paye Preference to pay by cheque P8 - late filing penalty - 10 per employee per day Queries can delay processing of P8
40 Payment of tax/paye
41 Payment of tax/paye
42 Payment of tax/paye FAQs Change of tax code/system part way through the year Married couples different systems? Multiple employments Bonus calculations Back pay adjustments Redundancy d
43 Payment of tax/paye FAQs Married couples different systems? e.g. Property in Gibraltar Purchased prior to marriage by one party can continue to claim allowances, spouse can be taxed under GIB Purchased subsequent to marriage either: -split the allowances or -one claim allowances, other does not BUT both must be taxed under allowance based system (if property purchased post 1/7/07) OR -if one always claimed allowances in respect of a property pre 2007 the spouse can elect to be taxed under the GIB system. OR - If one wishes to transfer to GIB system the other party can only claim 50% (i.e. their individual entitlement) of the allowances
44 Payment of tax/paye FAQs Multiple employments Will be taxed at marginal rate in respect of any excess income Example Job 1 25,000 Job 2 5,000 Total income 30,000 Taxed under GIB (for example) 20% = 5,000 29% = 1,450 Tax payable 6,450
45 Payment of tax/paye FAQs Bonus payment / back pay adjustments In the month in which they are received they need to be annualised Example: Monthly salary 2,000 Bonus 2,000 Total income 4,000 Taxed under GIB (for example) if calculated l through h the payroll system 20% = 5,000 29% = 6, Tax payable 13,670 1,139 in month in which bonus is received
46 Payment of tax/paye FAQs Bonus payment / back pay adjustments Example: Monthly salary 2,000 Bonus 2,000 Total income 4,000 Taxed under GIB (for example) if calculated manually 20% = 5,000 20% = 4,800 29% = per month on salary Tax payable 5, on bonus Total tax payable 841 ( )
47 Payment of tax/paye FAQs Redundancy Income Tax (Allowances, Deductions and Exemptions) Rules Section 2(3)(9) ) such sum paid upon redundancy which the Commissioner, considers to be appropriate, having regard to, but not limited to, the employee s length of service with the employer who made him redundant and his rate of pay. Questionnaire to be completed.
48 Payment of tax/paye FAQs
49 Navigating the Gibraltar Employment Tax and Social Insurance minefield * Individual Tax returns A Gibraltar tax return will need to be filed by all individuals with income subject to tax in Gibraltar. Tax returns are due by 30 September following the year of assessment. No penalties will apply for late filing. The Gibraltar Income Tax Office will then issue you with an assessment based on the information disclosed in your tax return. This assessment will state any additional tax liability or rebate arising.
50 Benefits in kind What does the law say? Sec 6 (1) says that the following is taxable gains or profits from any employment Tax office position - Has to be a perquisite which can be reliably measured
51 Benefits in kind cont d Common Benefits Accommodation allowance Provision of accommodation employer s own property Rent payable by employer on employee s behalf Utility allowance Payments of utilities on employees behalf Provision of company car Car allowance Cost of living allowances Relocation allowances Medical insurance Share options
52 Benefits in kind cont d How are they taxed and reported by the employer? P10 form Employee declares in personal tax return Not within scope of PAYE
53 Benefits in kind cont d
54 Frontier Workers
55 Frontier Workers Any employee irrespective of nationality who normally resides in Spain and travels to work daily in Gibraltar. If resident in Spain for more than 183 days in a calendar year you are tax resident and taxable on your worldwide income. Tax returns in Spain are due by 30 June each year. The Gibraltar tax authorities are the primary taxing authority in respect of your income earned whilst in Gibraltar. If the tax authorities in Spanish also deduct tax in relation to your Gibraltar income you should be able to claim relief in Spain for the Gibraltar tax paid.
56 Pensions Navigating the Gibraltar Tax and Social Insurance Minefield *
57 Pensions State pension Navigating the Gibraltar Tax and Social Insurance Minefield * Min 10 years contributions (Females) Min 11.5 years contributions (Males) Need to be > 20 years old Pensionable age 60 for females & 65 for males Min pension - 1, p.a. Max pension - 4, p.a. DSS can provide you with a forecast Can make additional voluntary contributions (need to apply within 1 year from last employment date) Received tax free
58 Pensions - Occupational Navigating the Gibraltar Tax and Social Insurance Minefield * Relief on pension contributions will only be available if paid to an approved Occupational Pension Scheme. Two options available: Company's own scheme Provident Trust (No 3) Scheme (low cost & mobile money purchase scheme administered by Govt) Received tax free!
59 Pensions - Occupational Navigating the Gibraltar Tax and Social Insurance Minefield * Employers Contributions These will be governed by the trust deed which would have been approved by the CIT. Anti-avoidance provisions.
60 Pensions - Occupational Navigating the Gibraltar Tax and Social Insurance Minefield * Employees Contributions Relief available to employees on the Allowance based system only Employees can obtain relief on contributions to an approved scheme of up to 1/6th of their earned income. The 1/6th limit includes premiums payable on approved life assurance policies which themselves are subject to an earnings cap of 1/7th of earned income. Overall employee & employer contributions eligible for tax relief up to 25% of earned income. Bonuses opportunity!
61 Pensions - Occupational Navigating the Gibraltar Tax and Social Insurance Minefield * Employees Contributions -Example Employee earning 100K who already pays 13,930 worth of premiums (i.e. 1/7th of their income 100k/7 which is 14,285 less SI allowance of 355). Since this individual is already obtaining the maximum tax relief on their premiums can obtain further relief up to a maximum of 2,381 on personal contributions to an approved scheme (i.e.1/6th of their income which is 100K /6 = 16,666 less 14,285 above). If on the other hand no relief is being obtained in respect of life assurance premiums then the maximum relief available on contributions ti to an approved scheme is the 16,331 (i.e. 16, less the 335 SI allowance) as long as total employee & employer contribution < 25%
62 Reporting calendar Important dates Task Due date Form P8 Form P10 Form P7 Personal tax returns Statistics survey Monthly tax and social insurance deductions 30 th July 30 th July Prior to 30 th September 30 th September 6 th November 15 th day of the following month
63 Useful links Navigating the Gibraltar Employment Tax and Social Insurance Minefield * com/gi Employment Service Unit 76/77 New Harbours Gibraltar Income Tax Office St Jago s Stone Block 331 Main Street Gibraltar
64 Contacts t Navigating the Gibraltar Employment Tax and Social Insurance Minefield * PricewaterhouseCoopers 10/8 International Commercial Centre Casemates Square Gibraltar Telephone: Website: Patrick Pilcher Áine Harrington Karen Barabich
Ministry of Finance TAX RETURN 2013/2014 Income Tax Office Form IT1P RETURN OF INCOME FOR THE YEAR ENDED 30 JUNE 2013 AND CLAIM FOR ALLOWANCES FOR THE YEAR COMMENCING 1 JULY 2013 Important notes You are
Income Levy Frequently Asked Questions 24 September 2010 Changes in the FAQ document published today, 24 September 2010 New FAQ 3.8 What income levy should I include in my preliminary tax for 2010? New
Human Resources RESOURCE DOCUMENT - V1. 2014 PAGE 1 OF 10 FAQ Index 1. What should I do if I am commencing employment in Ireland for the first time? 2. What should I do if I am moving employment? 3. What
Universal Social Charge Frequently Asked Questions 20 March 2012 These FAQs have been updated on 20 March 2012. The changes from the previous version (published on 20 January 2012) are listed hereunder.
Moving to Ireland Overview of the Irish Income Tax Implications Table of Contents Page Introduction 3 1. Fundamental Concepts Residence, Ordinary Residence and Domicile 3 1.1 Irish Resident 3 1.2 Ordinarily
Human Resources RESOURCE DOCUMENT - V1. 2014 PAGE 1 OF 9 FAQ Index 1. What should I do if I am commencing employment in Ireland for the first time? 2. What should I do if I am moving employment? 3. What
[05.05.19] Payments on Termination of an Office or Employment or a Change in its Functions Contents Sections 123 and 201, and Schedule 3 of the Taxes Consolidation Act, 1997 Updated April 2014 1. Introduction...3
Multi-Platform International Open Pension Application Form Connectable, Flexible, Upgradable www.londoncolonial.com This application form can be used to establish your Multi-Platform International Open
8.7 Taxation - PAYE, NI and Pensions Introduction Under current delegation and in accordance with Section 2 of the Scheme, schools are responsible for the payroll arrangements for their employees. There
Understanding Superannuation Client Fact Sheet July 2012 Superannuation is an investment vehicle designed to assist Australians save for retirement. The Federal Government encourages saving through superannuation
Newcastle University SHORT TERM ASSIGNMENT POLICY Revised 19 April 2012 1. Policy Statement The University is operating in an increasingly international market which offers significant opportunities for
Aberystwyth University SALARY EXCHANGE FOR PENSION This information pack gives details of Salary Exchange for pension, the arrangement by Aberystwyth University. It provides an opportunity for the majority
Cornmarket Presentation Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. Friends First Life Assurance Company Ltd. is regulated by the Central Bank of Ireland. Telephone
Hiring Foreign Staff in the PRC 8 May 2014, Guangzhou / Shenzhen Success beyond borders we advise German businesses worldwide! 1 Agenda I. Residence and Work Permit for Expatriates II. Employment Contract
TAXATION OF EXPATRIATES IN NIGERIA This article examines in a very general way the existing framework for the taxation of expatriates in Nigeria. It considers in brief the applicable tax rate, the portion
Terms and Conditions for the provision of temporary workers 1. The contract 1.1. All and any business undertaken by Intec Recruitment Services Ltd ( Intec ) is transacted subject to the terms and conditions
SETTING UP IN France FACTS & FIGURES 02 NIS Global is an international group of independent accounting and advisory firms set up to provide mutual clients with support as they establish and maintain operations
Guidance for employers on stakeholder pensions Introduction The 'Welfare Reform and Pensions Act 1999' requires employers to offer their relevant employees access to a stakeholder pension scheme, unless
Chapter 9 Labour Relations and Social Security 62 PwC Labour relations Availability of labour Malta s labour force is about 164,347, the majority of which are male. Malta s long-standing educational system
The Expatriate Financial Guide to Australian Tax Facts Australia Introduction Tax Year Assessment Basis Income Tax Taxation in Australia is mostly at a national/federal level with property taxes (council
CLIENT FACT SHEET July 2010 Understanding superannuation and superannuation contributions Superannuation is an investment vehicle designed to assist Australians in saving for their retirement. The Government
CONTRACT AND PERM TERMS OF BUSINESS THE SUPPLY OF LIMITED COMPANY CONTRACTORS AND TEMPORARY STAFF SERVICES 1. DEFINITIONS 1.1 In these Terms of Business the following definitions apply: Assignment means
THE XYZ Pension and Life Assurance Scheme Members Booklet January 2014 Edition For Employees of the XYZ Company Reviewed January 2014 CONTENTS Page 3 INTRODUCTION 4 TERMS USED IN THIS BOOKLET 7 GENERAL
CPA AUSTRALIA TAX AND SOCIAL SECURITY GUIDE: 2015 2016 This guide is the initiative of the CPA Australia Retirement Savings Centre of Excellence. Information is current based on legislation as at 1 July
BASIC PROVISIONS OF GREEK LABOUR LAW The purpose of this text is to provide the reader with direct and brief awareness on the basic provisions of the Law. As a result it is mentioned that this text can
The Expatriate Financial Guide to Germany German Tax Facts Introduction Tax Year Assessment Basis Income Tax Taxation in Germany occurs at a national and municipal level. The Ministry of Finance controls
Income tax for people with disabilities Disability Information Factsheet 7 Some tax-free credits and allowances are intended especially for people with certain disabilities. Some features of the income
Ministry of Finance & the Public Service Tax Administration Jamaica REVISED TECHNICAL NOTE Personal Income Tax Threshold & Rate FY 2016/17 Revenue Measures June 30, 2016 Table of Contents PURPOSE.3 LEGISLATION...
CPA AUSTRALIA TAX AND SOCIAL SECURITY GUIDE: 2014 2015 This guide is the initiative of the CPA Australia Retirement Savings Centre of Excellence. Information is current based on legislation as at 1 July
EMPLOYER-SUPPORTED CHILDCARE GUIDANCE AND FAQs FOR EMPLOYERS This guidance outlines HM Revenue & Customs application and interpretation of the legislation enacted at sections 35 and 36 and Schedule 8 of
Universal Social Charge Frequently Asked Questions 23 October 2015 These FAQs have been updated on 23 October 2015. The changes from the previous version (published on 10 July 2015) are listed hereunder.
PFF2 Assessment of financial circumstances - 2015/16 This form is also available at www.studentfinanceni.co.uk /A 1 Who should complete this form? Complete this form if you are: The student s natural or
SEYCHELLES REVENUE COMMISSION INCOME TAX PAYROLL USER GUIDE W W W. S R C. G O V. S C 2 P a g e INCOME TAX PAYROLL USER GUIDE For the purpose of this guide, the payroll being referred to here is the payroll
GuiDance notes, Gn1S ReTuRn form GuiDe SimPlifieD 15-16 important information TO assist WiTh The completion Of YOuR ReTuRn form Why use Online Tax Services? Because you can: File your return efficiently
SW 14 PRSI changes from 1 January 2016 Employer PRSI The Class A threshold for charging the 10.75% rate of employer PRSI will increase from 356 to 376. No change in the rates of employer PRSI for other
http://www.pwc.com/bw/en/index.jhtml Global Mobility Services: Taxation of International Assignees - Botswana Taxation issues & related matters for employers & employees 2015/16 Last Updated: June 2016
www.pwc.gi Gibraltar Tax Facts 2013/2014 A practical and easy-to-follow guide to the Gibraltar tax system. July 2013 This booklet is also available online at www.pwc.gi A list of PwC Gibraltar contacts
PRSI & SOCIAL WELFARE Historical Background PRSI is pay related social insurance, prior to 1979 Social Insurance contributions were not earnings related but operated on a flat rate basis. Significant changed
EMPLOYMENT INCOME INCOME TAX IMPLICATIONS June 2009 Index 1 Background... 1 2 Income tax implications for individuals... 1 2.1 Resident and domiciled individuals... 2 2.2 Resident or domiciled individuals...
PENSION ENCASHMENTS AND SMALL POTS ADVISED NON-GMP CASES IMPORTANT INFORMATION Please read this section carefully before completing this application form. This form can only be used where you are taking
PENSIONS INVESTMENTS LIFE INSURANCE COMPLETE SOLUTIONS COMPANY PENSION PLAN APPLICATION DETAILS PLEASE READ THE QUESTIONS CAREFULLY BEFORE ANSWERING THEM AND USE BLOCK CAPITALS. If any item is blank or
Personal Allowance Credits Guidance Note GN 29 Issued by the Income Tax Division 6 April 2012 PLEASE NOTE: This guidance has no binding force and does not affect your right of appeal on points concerning
CPA Australia Tax and Social Security Guide: 2013-2014 This guide is the initiative of the CPA Australia Retirement Savings Centre of Excellence. Information is current based on legislation as at 1 July
one Should I be registered for VAT? If your turnover (not profit, note) is more than 77,000 a year, you have no choice. You must register for VAT. But if your turnover is less than 77,000 a year, you may
partnership pension account A guide to available benefits Contents partnership pension account 3 Paying into your pension 4 Choosing your pension fund 8 How to open a partnership pension account 13 Leaving
A guide for employees Salary sacrifice and pensions MPEN15/D 07.16 Did you know that salary sacrifice (also known as salary exchange, SMART Pensions and Smart Pay) can provide you with an opportunity to
to the Employees Tax Instalment Scheme (the ETI Scheme) Contents Part 1 Part 2 Part 3 Part 4 Part 5 Part 6 Part 7 Part 8 Part 9 Part 10 Part 11 Part 12 Part 13 Part 14 An overview of the ETI Scheme Payments
for childminders 2009 This document was originally developed by Kerry County Childcare Committee. This edition was produced by the County Childcare Committees of Donegal, Leitrim, Roscommon and Sligo INTRODUCTION
Smart salary exchange what it means to you How the salary exchange agreement works Smart is a salary exchange agreement which allows both you and the company to make National Insurance Contribution (NIC)
The ConocoPhillips Share Incentive Plan EXPLANATORY BOOKLET September 2014 Contents Page 1. Introduction 1 2. Summary of how the Plan works 2 3. Eligibility and joining the Plan 4 4. Shares of Common Stock
Version 3 of 3 Date: 1 April 2007 Maternity Leave Guidelines Purpose and Scope of the Procedure The purpose of this policy is to outline the employment rights of expectant mothers including maternity leave,
TAX NEWSLETTER July 2012 Issues Discussed Tax implications of carrying on business in Trinidad and Tobago Corporation tax Business levy Green Fund Levy Withholding tax PAYE National Insurance Value Added
Council Tax Support Scheme 2015-16 Easy Read Guide TM/CTS/2015 Council Tax Support Guide Contents Page 1. What is Council Tax? 3 2. Who has to pay Council Tax? 3 3. What is Council Tax Support? 4 4. Who
www.pwc.com International Assignment Services Taxation of International Assignees Country Ghana Human Resources Services International Assignment Taxation Folio Table of Contents Introduction International
Contributions Fact Sheet Product Disclosure Statement The information in this document forms part of the QIEC Super Product Disclosure Statement (PDS). This document is the Contributions Fact Sheet and
Form 12A Application for a Certificate of Tax Credits and Standard Rate Cut-Off Point Please complete relevant sections in BLOCK CAPITALS. Read the Form 12A Help Sheet attached before completing this form.
Joint Assessment & Personal Assessment for Married Couples (a) Joint Assessment and Separate Taxation Separate taxation Husband and wife are treated as separate individuals. Each is required to complete
Claim Form for Housing Benefit and Council Tax Support Name: Address: For office use: Claim reference: Date issued: Date received: Full postcode: You can check if you may be entitled to benefit using our
Pensions - Tax Reliefs Types of pension schemes There are two broad types of pension schemes from which an individual may eventually be in receipt of a pension: Occupational schemes Personal Pension schemes.
TB 40 Funding income protection and trauma insurance via Issued on 16 June 2014. Summary The tax concessions available for certain contributions can make it tax effective to fund income protection (salary
Ministry of Finance General Commission for Taxes Direct Deduction Division Concerning Income Tax Deduction By Direct Deduction Method Article s number subject Page number Article (1) Definitions Article
Limited Companies Introduction Forming a Limited Company may appear to be very daunting to some people, and it is true that a lot of legislation is in place relating to company formation and operation.
Tax administration and allowances The UK taxing authority is known as Her Majesty s Revenue and Customs (or HMRC for short) and the tax year runs from 6 April to the following 5 April. There is no system
Luxembourg income taxes 2016 Guide for individuals www.pwc.lu 2 Table of Contents Basic principles Employment income Directors fees Dividend and interest income 1 2 3 4 5 Capital gains p4 p7 p8 p8 p9 Real
TERMS OF BUSINESS FOR THE INTRODUCTION OF PERMANENT OR CONTRACT STAFF TO BE DIRECTLY EMPLOYED BY THE CLIENT 1 DEFINITIONS 1.1 In these Terms of Business the following definitions apply: Applicant Client
Chapter 26 Tax Relief for Pension Contributions: Application of Earnings Limit Created June, 2013 Introduction 26.1 Section 790A TCA 1997 provides that an aggregate earnings limit is to apply for the purposes
Defined Contribution Social Housing Pension Scheme (SHPS) Employee Application Form Defined Contribution (DC) Structure Membership Number To be completed by The Pensions Trust: M PLEASE COMPLETE SECTIONS
2016 BUDGET TAX GUIDE 1 2 This SARS pocket tax guide has been developed to provide a synopsis of the most important tax, duty and levy related information for 2016/17. INCOME TAX: INDIVIDUALS AND TRUSTS
PLANNING CONSIDERATIONS FOR IT CONTRACTORS INITIAL JOBS DATA RELATING ENTIRELY TO THE PERIOD IMMEDIATELY AFTER THE EU REFERENDUM VOTE INDICATES A MARKED INCREASE IN IT ROLES. FIGURES FROM REED SHOW THAT
Answers Fundamentals Level Skills Module, Paper F6 (ZWE) Taxation (Zimbabwe) June 2015 Answers and Marking Scheme Section A 1 B 50% x (5 000 2 000) = 1 500 Tutorial note: Medical expenses credit on other
TAX FACTS 2016/2017 Tax is complicated, so you need the facts INCOME TAX RATES 2015/16 Band 2016/17 Band Basic rate: 20% 0 31,785 Basic rate: 20% 0 32,000 Higher rate: 40% Additional rate: 45% 31,786 150,000
Business Support Centre A Guide to the Local Government Pension Scheme (LGPS) in England and Wales A Brief Guide This document is intended as a brief guide to new employees or employees considering membership
The Comprehensive Service At PML Accounting Limited, we understand that business affairs need to be dealt with efficiently and effectively, so we have developed a specialist accounting service specifically
Insurance Variation Form SEND YOUR COMPLETED FORM TO: Australian Ethical Super, Locked Bag 5125, Parramatta NSW 2124. Please use BLOCK LETTERS and BLACK ink. Important notes Please use this form if you
EMPLOYER-SUPPORTED CHILDCARE GUIDANCE AND FAQs FOR EMPLOYEES WHO ARE PARENTS, STEP-PARENTS OR WHO HAVE PARENTAL RESPONSIBILITY This guidance outlines HM Revenue & Customs interpretation of the legislation
05/15 form 18 Application for Write off/exemption Client or Legal aid number Notes This form is to help you ask for a write-off of legal aid debt, or for an exemption from a charge over property that is
The Comprehensive Service At PML Accounting Ltd, we understand that business affairs need to be dealt with efficiently and effectively. Therefore, we have utilised and further developed a specialist accounting
Payment of wages Pay & Wages Series What hourly rate should I be paid? Your hourly wage rate depends on factors such as the industry or sector you are in, your occupation and contract of employment. Pay
Cornmarket Group Financial Services Ltd. is regulated by the Central Bank of Ireland. A member of the Irish Life Group Ltd. Telephone calls may be recorded for quality control and training purposes. Cornmarket
Revision date: January 2016 Pension-Related Deduction from the remuneration of public servants Frequently Asked Questions 1 Frequently Asked Questions Section A: Section B: Introduction to the Pension-related
[7.1.32] Rent-A-Room Relief 1. Introduction Sums arising to an individual in respect of the letting, for residential purposes, of a room or rooms in his/her home, including, for example, sums arising from
Deutsche Bank Human Resources DB Personal Pension Plan Handbook for employees of DB Group Services (UK) Limited DB Personal Pension Plan Contents Introduction 4 What is the Group Personal Pension Flex?
Education Maintenance Allowance (EMA) Additional Guidance Both Student and Carer(s) must sign the Declaration Form on page 10. If you were born between 1 March 1997 and 28 February 2001 you may be eligible
A Brief Guide to Personal Assessment Whether Tax may be Reduced through Election for Personal Assessment Foreword This leaflet explains 1. what Personal Assessment is, 2. how Personal Assessment may reduce
SALARY PACKAGING SUPERANNUATION GUIDE TO EMPLOYEES Superannuation Introducing Salary Packaging Salary packaging has been made available to all staff of the University through the Enterprise Agreement process.
CAMBRIDGE COLLEGES FEDERATED PENSION SCHEME A GUIDE FOR MEMBERS AT ST JOHN S COLLEGE How the Scheme is run Why you should join State pensions Auto-enrolment Membership Cost Who can become a member? What
Understanding your tax The April 30 deadline looms for taxpayers to file their returns. Tax consultant Dr Choong Kwai Fatt from the Faculty of Business, Universiti Malaya, takes you through the basic issues