30 July 2007
Officers from the States Income Tax Office have begun visiting businesses to help them prepare for the introduction of Jersey’s Goods and Services Tax (GST) next spring.
In order to make it easier for members of the business community to understand and administer the new tax, the Income Tax Office, is offering free, individual advisory visits. More than 60 businesses have so far benefited from one-to-one consultations.
Specialist members of staff are available to explain GST legislation, answer questions and offer advice on record-keeping and administrative procedures. A series of GST information booklets and leaflets are also being published. These will be available from the Income Tax Office and on the States website www.gov.je
Jersey’s GST Director, Steve Lowthorpe, says: “We felt many businesses would benefit from individual visits to their own business premises, where they could receive first hand advice relevant to their own particular interests and concerns. The visits are not compulsory but I would urge members of the business community to take advantage of this free service. It is not our intention to be intrusive: rather we want to be as helpful as possible.”
All businesses must register for GST if their annual turnover of taxable goods and/or services is, or is likely to be, £300,000 or more. Once registered, businesses will have to collect GST from their customers and make quarterly payments to the Comptroller of Income Tax. They also will have to keep records and accounts of their sales and purchases.
Visits are available to all Jersey businesses, whether they are liable to be registered for GST or simply have a concern about the effects of GST upon their commercial activities.
Businesses wishing to book a visit should call the GST Helpline on 440555.
gov.je