A New Business Enquiry Form should be completed and submitted within 7 working days of a new business starting up if there are employees. Upon receipt of this, the employer will receive an employer pack containing all information and forms required.
Click here for a New Business Enquiry Form
Payment On Account of Tax (POAT) should be applied by employers to their employees’ remuneration.
The employer will take into account the personal allowance when deducting tax, however if an employee has more than one employer, only the main or full time employer should account for the personal allowance and each additional employer should strictly deduct tax a straight 21% tax from the employees gross wages.
Non-resident employees are required to have a flat rate POAT deduction from their gross wages. The employee can either accept this as their final liability to Falklands Tax or alternatively submit a tax return to receive an assessment.
Tax Free Salaries
Where an employer pays the POAT on behalf of the employee the amounts paid to the employee need to be grossed up for tax purposes so that the actual amount received by the employee is net of tax.
Payment & Return
An employer is required to submit a POAT return for each calendar month by the 14th of the following month together with the payment for that month’s POAT.
An end of year employer pack is issued to all employers in December and completed returns should be submitted by 2nd February in the following year to which the income relates.
Click here to view the Tax Calendar
For details on making payment:
For more information on Employer Tax Requirements, please see our various guides in downloads