Important Tax Reminder: Deadline on 30th September 2023

If your company has a financial year end of 31 December then your tax return for 31 December 2022 is due by the end of this month (9 months after your accounting year end).

Octopus notifies, prepares, and files tax returns for companies under our management in Gibraltar.

Failure to submit a tax return will incur the following penalties:

1 Day Late – £50 fine

3 Months Late – An additional £300 fine

6 Months late – An additional £500 fine

If you need assistance, please do not hesitate in contacting us on +350 200 77779 or email us on info@octopus.gi

By Phil Cartwright

Frequently Asked Questions

When is the tax return due for Gibraltar companies with a 31 December financial year end?

For companies in Gibraltar with a 31 December financial year end, the tax return for that period is due by 30 September of the following year. This represents a nine-month window after the close of the accounting year.

What are the penalties for late submission of a company tax return in Gibraltar?

The penalties for late tax return submission in Gibraltar are structured in stages: a £50 fine for being one day late, an additional £300 if the return is three months late, and a further £500 if it is six months late. These penalties are cumulative as the delay increases.

How does Octopus assist Gibraltar companies with tax return obligations?

Octopus notifies, prepares, and files tax returns for companies under its management in Gibraltar. This service is designed to help ensure compliance with local tax deadlines and avoid associated penalties.