Tax
Committee chairperson

 

Paul Woodman
Deloitte
P O Box 403, Lord Coutanche House
St. Helier
Jersey
JE4 8WA

T: + 44 (0) 1534 824200
F: + 44 (0) 1534 734037
E: paul.woodman@deloitte.co.uk

The taxation sub-committee is chaired by Paul Woodman. The work of the committee includes:

• Advising members on any changes to tax legislation and practice and the tax impact of legal and accounting changes
• Responding on behalf of the JSCCA to public consultation on tax matters
• Representing the JSCCA at Fiscal Strategy Group meetings
• Liaising with the training sub-committee on the provision of tax training for members
• Dealing with queries from members of a tax nature

The JSCCA membership covers a very broad range of businesses, we are not focussed on any particular business sector but take account of the impact of proposed changes across the entire business community. 

Any queries should be directed to Paul, contact details above.

 

Zero Ten and Shareholder Tax Issues

The Taxes office has recently published several documents on zero ten and shareholder taxation issues on the States website to asssit the general public and in particular tax agents.  These documents have been designed to answer common queries that have been put to the Taxes OFfice and to provide more by way of general information.

The new States Website does not currently have a "What's New" section under Taxes & Your Money.

There are a few more documents to be published and when these have been completed and released notification will be placed on this website.

The released documents (which can be found under Zero ten tax system) cover the following:-

1. Calculation of dividend and shareholder loan credits.

2. Joint ownership of shares.

3. Taxation of Jersey rents and property development profits.

4. The application of historic concessions in respect of Jersey rents and property development profits.

5. Investment company concessions from 2008.

6. Death of a shareholder of an investment company.

7. Death of a shareholder of a trading company.

Below are some minutes of a JSCCA meeting with David Le Cuirot held in February.  Please note that some of the points discussed have been superceeded by the new documents published on the Tax office website.

Minutes of Meeting

 

Tax Consultation Documents

 

The Minister for Treasury and Resources has launched two consultation papers in relation to corporate and personal taxation.  The JSCCA intends to respond to these documents so comments are invited to ensure that the views of the membership are accurately represented.  Links to the documents can be found by visiting:-

 

http://www.gov.je/government/consultations/current/pages/fiscalstrategyreview.aspx

http://www.gov.je/government/consultations/current/pages/businesstaxreview.aspx

 

Please send responses to Caroline Harrington at secretary@jscca.org.  Please provide your comments in the form of answers to the specific consultation questions contained within each document.  REsponses are requested by the end of July to give sufficient time for them to be collated into a single submission from the Society.

 

Volunteers are also needed to sit on the tax sub-committee.  If this is an area where you would like to make a contribution, please contact Caroline at secretary@jscca.org.

 

Shareholder/Director Loans
 

 

Below is the Tax Office interpretation of Paragraph (2) (a) & Statement of Accepted Practice - applicable to Shareholders of a Company that are directors of the same company - "Shareholder/Directors".

 

Shareholder Loans - Statement of Practice

.

 

The Jersey Society of Chartered and Certified Accountants
Gemini Cottage
La Rue du Douet de Rue
St Lawrence
JE3 1GY
T: +44 (0) 1534 734188
E: secretary@jscca.org

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