As our members will be aware, Revenue Jersey has introduced some important changes to Jersey company tax returns for the 2018 and 2019 years of assessment. Ahead of the upcoming filing deadline for the 2018 return, we provide a quick reminder of some of these key changes below.
2018 Company Tax Return:
- The global return for Jersey incorporated companies (GRJIC) is no longer available, so each Jersey incorporated company will need to file a company tax return online by 31 December 2019.
2019 Company Tax Return:
- There will be new questions and information requirements in respect of Economic Substance.
- The return is to be accompanied by accounts. Unless a set of accounts is attached, Revenue Jersey will not accept the return as complete.
- Payment Deadline: Important changes to the deadline dates for the payment of company income tax are due to take effect from 2020 (for the year of assessment 2019), which will be relevant for companies who are subject to a positive tax liability.
- Filing Deadline: There will be no change to the company tax return filing deadline. All companies must continue to file their company tax returns by 31 December in the year following the year of assessment.
Full details can be found on Revenue Jersey’s Website.
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