{{ToolName:CrossMarketing Argument:ProductKey=ddt}}

Tax Year

The tax year in Jersey is the calendar year, 1 January to 31 December.

Tax Return Filing

The filing deadline for the tax information return (financial statements) and the annual tax return is by midnight on 30 November (31 December until tax year 2022) following the close of the previous tax year.

Companies that are taxed at 0% are also required to submit an annual tax return. From the year 2019, the following entities are required to file an annual tax return:

Jersey-incorporated companies (whether or not tax-resident in Jersey);
Jersey foundations;
Foreign incorporated companies that are tax-resident in Jersey;
Foreign incorporated companies with a permanent establishment in Jersey; and
Jersey-incorporated companies that are managed and controlled abroad (effective 1 January 2020).

Effective 1 January 2020, all the above companies are required to submit an information return (financial statements) to the tax authorities. Previously, companies subject to tax at 10% or 20% (on all or part of their income) were required to submit an information return (financial statements) each year with the tax authorities.

Tax Payments

Effective 1 January 2020, all companies except large companies are required to make an instalment payment of the tax payable by 31 May, with the balance due on 30 November in the year following the year of assessment.

For large companies (i.e., companies whose tax liability exceeds GBP 500,000 for each of the 2 years preceding the year of assessment in respect of which the payment is being made), the instalment payment must be made by 31 March, and the balance by 30 September of the year following the year of assessment.

COVID-19 Emergency Measures

In response to the COVID-19 pandemic, the Jersey government announced that an employer who is required to pay Class 1 or Class 2 social security contributions in respect of employees for the calendar quarters starting on 1 January 2020, 1 April 2020, 1 October 2020, 1 January 2021, 1 October 2021 and 1 January 2022 may apply to extend the time limit for the payment of those contributions by up to 24 months.

The government of Jersey has announced a new process whereby eligible businesses affected by the COVID-19 pandemic can defer the social security contributions and/or GST payments for the final quarter of 2021 and the first quarter of 2022, for up to 5 years.

The eligible businesses include companies engaged in hotels, restaurants and bars; transport and storage; education, health and other services; travel agency and tour operator vehicles, etc.

The deferral scheme is subject to fulfillment of the following conditions:

All tax returns should have been submitted at the time of applying for the scheme, and continue to submit all returns according to the usual filing deadlines, throughout the deferral period;
Taxpayers should not have any outstanding historic debts, other than approved deferrals, unless they have an approved payment plan in place to which they are adhering to;
Taxpayers should be engaged in one of the eligible businesses; and
The application for the scheme should be made online by midnight on 9 January 2022.

Powerful Tax Solutions

Tax Rules Engine

Collaboration Tools

Latest Tax News