Accounting, bookkeeping & payroll

Running a Gibraltar company comes with specific financial obligations. Annual accounts must be prepared in accordance with the Gibraltar Companies Act 2014 or International Accounting Standards, tax returns need filing, and if you employ staff, payroll must comply with local PAYE and social insurance legislation. None of this is optional, and getting it wrong carries penalties.

That's where Octopus comes in. Whether you're a newly incorporated company or an established business looking to switch providers, we manage everything so you can focus on growing your business.

Why Gibraltar accounting services matter

Under the Gibraltar Companies Act 2014, companies must prepare annual accounts that give a true and fair view of their assets, liabilities, financial position and profit or loss. Accounts must be filed annually, and failure to meet filing deadlines means the company and every officer commits an offence and is liable for a fixed penalty.

Beyond statutory requirements, well-maintained records are essential for bank account retention, informed decision-making, smooth interactions with the tax authorities and maintaining your company's good standing. Octopus provides the professional infrastructure to keep your company compliant without the cost of an in-house finance team.

Bookkeeping: keeping your records in order

Accurate, up-to-date bookkeeping is the foundation of every other financial service. Without clean records, statutory accounts take longer, tax returns carry risk, and management decisions are based on guesswork. Our service covers:

• Transaction recording in line with GAAP and, where required, IFRS
• General ledger and sub-ledger maintenance with a complete audit trail
• Regular bank reconciliation, resolving discrepancies promptly
• Accounts receivable and payable tracking for cash flow visibility
• Sales invoice preparation compliant with Gibraltar requirements

Our bookkeeping is tailored to the volume and complexity of your business — a non-resident holding company has very different needs from an active trading company, and we structure our service and pricing accordingly.

Statutory accounts and financial statements

All Gibraltar companies must prepare annual financial statements. We prepare:

• Annual statutory accounts under the Companies Act 2014, using GFRS 102 or IFRS
• Balance sheet, profit and loss account and supporting notes giving a true and fair view
• Directors' report summarising activities, performance and outlook
• Filing with Gibraltar Companies House, with deadlines met and penalties avoided

Audit liaison

Where your company requires an audit, we prepare the full audit file and liaise directly with your appointed auditors. We work with a range of local and international audit firms and can recommend an appropriate auditor based on your needs and budget.

Corporation tax returns

Gibraltar levies corporation tax at a flat rate of 15% on profits accrued in and derived from Gibraltar. Every company must file an annual tax return, with payments on account required during the financial year. We handle:

• Tax return preparation and filing, ensuring all allowable deductions are claimed
• Calculation of payments on account, with reminders before each deadline
• All correspondence with the Income Tax Office on your behalf
• Tax planning support in conjunction with qualified tax professionals

Corporation tax returns are generally due nine months after the end of the accounting period, with payments on account due in two instalments during the year. We manage the calendar proactively so you're always ahead of deadlines.

Payroll: PAYE, social insurance and compliance

If your company employs staff — locally or cross-border workers from Spain — accurate, timely payroll is both a legal obligation and a duty of care. Our service includes:

• Monthly payroll processing with correct PAYE and social insurance deductions
• Detailed, compliant payslips for each employee
• PAYE and social insurance remittance, paid on time
• Employee registration and termination with the Department of Employment and tax office
• Year-end returns (P8) and individual employee tax summaries
• Cross-border support, including the annual Spanish Hacienda tax letter

Outsourcing avoids the cost of an in-house payroll administrator and gives you guaranteed cover, timely reminders, proactive updates on legislation, and the confidentiality of separating payroll from your internal team.

Management accounting and reporting

Beyond statutory compliance, good financial information helps you run your business better:

• Monthly or quarterly management accounts (P&L, balance sheet, cash flow)
• Budget vs actual reporting, highlighting variances and trends
• Cash flow forecasting to avoid surprises
• Custom reporting and consolidation packages for investors, parent companies or boards
• Audit file preparation and coordination with auditors

Who are our accounting services for?

• Newly formed Gibraltar companies — we set up your chart of accounts and bookkeeping processes from day one.
• Non-resident companies — deep experience with the specific accounting and tax requirements of non-resident structures.
• Active trading companies — integrated bookkeeping, accounts, payroll and tax as a single coordinated service.
• International entrepreneurs — local infrastructure to demonstrate substance and maintain compliance.
• Regulated businesses — financial reporting aligned with statutory and regulatory expectations in financial services, gaming and DLT.

Why outsource to Octopus?

As a Gibraltar Financial Services Commission (GFSC)-regulated firm (FSC No. 0827B), accounting and bookkeeping sit alongside company formation, corporate management and compliance as part of an integrated service — your accountant, company manager and compliance officer all under one roof.

• Integrated service — nothing falls between multiple providers
• In-house expertise from qualified professionals, in our office
• Regulatory awareness with built-in transaction and ongoing monitoring
• Cost-effective fixed, transparent fees that scale with your needs
• Technology-enabled, cloud-based systems for accurate, timely processing

Explore related services: Company Formation, Banking Introductions and Merchant Facilities.

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