No, a High net worth individual or Category 2 individual can only be taxed under the allowances-based system. At present their gross assessable income is capped at £80,000 per annum.
As tax rates presently stand the minimum annual tax liability is £22,000
As tax rates presently stand the maximum annual tax liability is £27,560
No, a Higher executive possessing specialist skills can only be taxed under the Gross Income Based system. At present their gross assessable income is capped at £120,000 per annum.
As tax rates presently stand the annual total tax liability would be £29,940.
Our agents are on standby ready to assist you. Let us know if you have a query, are looking to buy or rent, or even if you are only curious as to your property’s value. Let us guide you home.
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Phoenix Real Estate
28 Engineer Ln,
Gibraltar GX11 1AA