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| Jersey Amends Tax Law On UK, Guernsey Superannuation Funds |
by Amanda Banks, Tax-News.com, London
Thursday, January 28, 2010
The Jersey government has announced that, following Senator Philip Ozouf’s maiden budget,
Articles 115(g) and 115(ga) of the Income Tax (Jersey) Law 1961, which pertain to certain income derived by UK and Guernsey superannuation funds from investments and deposits,
will be abolished with effect from the year of assessment
2010.
The consequence of the abolition is that UK
and Guernsey superannuation funds that have (property) income arising in Jersey
will, from 2011 (year of assessment 2010), be required to pay tax on that income.
The government has requested that all affected superannuation funds register
with the Comptroller of Taxes by no later than July 31, 2010.
The registration details required are as follows:
- the full name of the superannuation fund;
- the address for correspondence;
- the address of the property in Jersey from which rental income is being
received; and
- the annual rental income on that property.
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