Deadline Approaching for P8 Submission! Ensure Compliance on Time
Posted on 17 Jul 2024
The P8 form, crucial for all employers in Gibraltar, must be submitted by July 31, 2024, for the fiscal year that ended on June 30, 2024. This document, known as the Employer's Annual Statement Declaration and Certificate, is mandatory, and the consequences for non-compliance are severe.
Why is it important to submit the P8 on time?
Missing the deadline can result in significant fines
- For micro employers (fewer than 10 employees), the penalty is £50 if submitted after August 1, 2024, and £250 if submitted after August 31, 2024.
- For small employers (10 to 50 employees), the penalty is £100 if submitted after August 1, 2024, and £500 if submitted after August 31, 2024.
- For medium employers (50 to 250 employees), the penalty is £250 if submitted after August 1, 2024, and £1,250 if submitted after August 31, 2024.
- For large employers (more than 250 employees), the penalty is £500 if submitted after August 1, 2024, and £2,500 if submitted after August 31, 2024.
It's crucial to prepare early to avoid costly fines. At TAG Consultancy, we're here to help you comply with these requirements effectively. Our experts can guide your company through the process to ensure you meet the current regulations promptly and accurately.
Contact us today: Don't risk unnecessary penalties! Contact us today to find out how we can facilitate the P8 submission and other tax obligations.
- Email: info@tag.gi
- Phone: +350 225 01252 / +350 540 01546
- Visit our website: www.tag.gi
- Location: Suite 8, Block 2, Water Gardens, Gibraltar
Your success is our priority, and we are dedicated to being your strategic partner on the path to business excellence.
