2024 compliance programme
Revenue Jersey is publishing a programme of compliance activities it will undertake during 2024 in accordance with its compliance strategy - based on the Promote, Prevent and Respond model. The programme of activities can be extended beyond the calendar year as appropriate. Some elements of the 2023 programme are carried over into the 2024 programme.
Promote
- Active promotion and encouragement for individuals to switch to online filing, leveraging enhanced and assisted Digital ID offering and additional online services available via onegov accounts (including the Tax Community Helpdesk)
- Continue to educate and support employers in complying with their Combined Employer Returns (CER) filing requirements
- Identifying entities that have incorrectly classified themselves for Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standard (CRS) reporting with a view to improving data quality and accuracy
- Continue to educate industry around the key risks of CRS/FATCA to ensure more accurate reporting, filing and compliance
Prevent
- Improve the clarity and range of information provided to customers in notifications, so they can more easily understand what tax they owe and manage their finances to pay on time
- Continue with the issue of Default Assessments and the imposition of appropriate penalties for employers who persistently fail to file their CER
- For businesses with approved trader status for GST – compliance checks to ensure that imports remain relevant to the core business
- Review of the rationale for CRS/FATCA reporting by service providers
- Enhancement of FATCA and CRS validations for Jersey's Automatic Exchange of Information (AEOI) portal in order to improve the quality of information provided
- Analysis of business activities in order to target areas of greatest risk of necessary economic substance
Respond
Focus areas
Reviews continued from prior years’ compliance programmes into 2024:
- Continued examination of compliance with tax law by all entities including individuals in respect of income from property. This continues to be a broad review incorporating detection of undeclared property income and property development
- A review of compliance with all revenue obligations by High-Net-Worth Individuals
- Examination of compliance with tax law by persons (including companies) within the estate agent sector
- Review of cash rich trades with a focus on takeaway businesses
Review commencing 2024 into 2025:
- Review of compliance with tax obligations of self-employed individuals
- Further enhancement of and targeted compliance reviews around overseas bank accounts and payments in relation to Jersey resident persons
Routine compliance checks
- Risk based and occasional random checks on compliance with GST law, the Income Tax Instalment System and Social Security Contribution law. A mixture of desk-based and site audits will be used as appropriate
- For those Overseas Retailers registered for GST - checks to ensure overall compliance, and that GST is accounted for correctly
- For GST, continued focus on any businesses whose turnover is near to the threshold of £300,000 to ensure that they register on time
- Targeted educational reviews (desk and on site) of new employers
- Targeted review of effective rate application by employers
- Ongoing reviews of employers who fail to file their Benefits in kind (BIK) and CER returns
- Increased focus on those businesses who fail to register as an employer and employers who fail to register for BIK
- Identification and investigation of cases of non-compliance with the Jersey Minimum Wage
- Compliance interventions with financial institutions which present the highest risk of not complying with the FATCA and CRS rules, or the highest reputational risk to Jersey
- Identification and investigation of the cases of non-compliance with the Economic Substance Law – including partnerships
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