The deadline for the first reports in relation to the UK/Guernsey and UK/Jersey Intergovernmental Agreements regarding a FATCA-type reporting regime is 30 June 2016.

The purpose of this memorandum is to provide information on the process for listing payment in kind notes ("PIK Notes"), also known as funding bonds, on The International Stock Exchange Authority Limited

Under the Taxation (Companies – Economic Substance) (Jersey) Law 2019 and the Income Tax (Substance Requirements) (Implementation) (Guernsey) Amendment Ordinance 2018 and the Income Tax (Substance Requirements) (Implementation) Regulations 2018.

The recent case of Volaw Trust & Corporate Services Limited and Larsen v Comptroller of Taxes [2013] JRC 095 is the first case to decide on an appeal against a notice issued by the Comptroller of Income Tax under the Taxation Regulations 2008.

Jersey companies may be treated as exclusively tax resident in jurisdictions other than Jersey pursuant to Article 123(1)(a) of the Income Tax Law 1961.

At present, the purchase of a property through the acquisition of the share capital of a property owning company is exempt from stamp duty.

Under the Taxation (Partnerships – Economic Substance) (Jersey) Law 2021, an economic substance test will apply to a Jersey resident partnership in each relevant financial period...

Any trust company or corporate service provider offering employee incentive solutions will have spent the last few years heavily involved in dealing with the "Loan Charge"

The recently submitted Draft Taxation (Partnerships – Economic Substance) (Jersey) Law 202- is expected to be approved on 29 June 2021.

Now more than ever, Revenue Jersey are carrying out a variety of compliance based activities in an effort to minimise Jersey's tax gap and raise additional revenue for the island.

HMRC have already begun to issue enforcement notices to sponsoring employers for the payment of tax and National Insurance (NIC) liabilities in respect of employee benefit trusts (EBTs) on the basis that the arrangements facilitated forms of disguised remuneration to employees.