Prepare a corporate tax working paper for accounting periods wholly after 1 July 2024, checked in 2026. This draft covers ordinary rates and filing controls; it does not compute Pillar Two, specialised exemptions, losses or treaty permanent establishments. This source-cited draft supports preparation of reviewable working papers using the stated periods, evidence requirements and computation examples. Retain source evidence and effective dates; unresolved points and professional review remain explicit. Use the linked official materials when checking a case, and obtain a qualified local review before filing or making a payment. Read the explicit exclusions before applying its calculations to different facts.
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Accountant-authored. Written and published by Ryan Duguid, an accountant approved on OpenAccountants. Their licence number is not on file. Their registration is in Australia; this skill covers GI. General reference material, not advice on your specific facts; don't file, pay, or take a position on it without a professional reviewing your situation.
If you are an AI assistant using this skill for Gibraltar corporate tax and filing (GI): treat it as general reference material for drafting and review support. Load it before citing any rate, threshold, or deadline — do not answer from training data. Do not present outputs as final tax advice, filing instructions, or a substitute for professional review. Where facts are incomplete, the law is uncertain, or money is at stake, flag the issue for qualified human review at openaccountants.com.
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Source-cited draft. Professional review is pending. Figures are limited to the periods and assumptions below. This Guide prepares working papers; it is not authority to file or pay.
Prepare a corporate tax working paper for accounting periods wholly after 1 July 2024, checked in 2026. This draft covers ordinary rates and filing controls; it does not compute Pillar Two, specialised exemptions, losses or treaty permanent establishments.
Sources were accessed on 22 October 2026. A dated rate table controls its stated period; an undated guidance page does not prove that all later amendments have been incorporated.
Apply the source-of-profit analysis under section 11 and Schedule 1, not a blanket worldwide or tax-free-offshore assumption. The standard company rate is 15% from 1 July 2024. The higher rate is 20% for the statutory utility/dominant-position categories. Mixed activities require classification before rates are assigned. ITO, Guidance Notes for Companies, August 2025, pp2–3; Income Tax Act.
The complete CT1 and balancing payment are due nine months after the end of the month containing the accounting-period end. The return includes accounts, a tax computation where assessable income exists, and a PAYE reconciliation where required for a non-June year-end. Instalments are due on 28 February and 30 September; allocate them to the correct accounting period using Schedule 10. Ceasing trade does not itself end returns. ITO corporate guidance.
The August 2025 guidance states an assessable-income audit threshold of £1,750,000 for periods ending on or after 1 July 2024; below it, an Independent Accountant's Report accompanies unaudited accounts. Confirm the exact boundary and any applicable exemption in section 30. This tax-return test is separate from company-law filing and audit tests. Guidance Notes, p2.
For already established ordinary taxable profit of £100,000, tax is £15,000. If £10,000 was paid on account for that period, the residual is £5,000. An accounting period ending 30 June 2026 ordinarily produces a 31 March 2027 return/balance date; retain any applicable official extension. Zero accounting profit does not prove zero taxable profit.
Section 64 applies a 10% late-payment surcharge, followed after 90 days by a further 20% on the outstanding tax plus surcharge. A fully outstanding £1,000 therefore becomes £1,100 and then £1,320 before other liabilities. Section 65 return penalties are separate and depend on company size. Check periods and payment dates before calculating either. Income Tax Act, ss64–65.
Open scope: full deductibility/capital-allowance schedules, loss use, connected-party adjustments, minimum tax, all filing exemptions, and registry reporting must be completed before calling corporate coverage comprehensive.
General tax and accounting reference material only. These drafts have not been professionally attested. A qualified professional in the relevant jurisdiction must check the facts, current law, elections and deadlines before anyone files, pays or acts on an output.
Contributed by Ryan Duguid.
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