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Fiscal Representative in Jersey

Fiscal Representative in Jersey

A fiscal representative in Jersey and an important role in helping clients navigate the tax requirements, and comply with the tax filing deadlines, and the conditions for the needed tax payments. Sometimes referred to as tax agents, the individuals of companies that offer these solutions are used by both Jersey resident companies and foreign companies doing business in the Bailiwick.

When investors first decide to open a company in Jersey they can also choose to work with a tax agent in Jersey. However, it is important to keep in mind that such an agent needs to have proper qualifications, and comply with other conditions, as imposed by the Jersey authorities.

Before you appoint a fiscal representative in Jersey you can discuss your options with our team and ask us more about the services we provide in this area. Along with proper solutions for your company’s tax matters, our lawyers in Jersey can also provide legal guidance and representation as needed in front of the tax authorities and in many other cases.

How does a fiscal representative in Jersey assist companies?

The tax agent or fiscal representative may submit the tax returns, trading accounts, other documents, and computations on behalf of the company (the taxpayer who has these obligations under Jersey law).

Moreover, the Jersey fiscal representative will also handle all communications with the authorities, including direct communications with Revenue Jersey for the purpose of handling tax matters on behalf of the clients.

If you would like to appoint a fiscal representative as soon as you set up a company in Jersey, please feel free to talk to our team.

What are the needed qualifications for a fiscal representative in Jersey?

According to law, the individual who acts as an agent needs to comply with the following:

  • Must be a chartered accountant, a certified accountant, or a chartered tax adviser;
  • Alternatively, the individual can also provide proof of relevant Jersey tax law matters, along with practicing in this area of law;
  • Those who are otherwise unqualified but willing to practice must show relevant proof of more than 10 years of practice in Jersey tax, within a professional company;
  • All the financial representative’s tax matters must be up to date and verified;
  • The applicant receives the status of approved tax agent by submitting the relevant qualifications to the Jersey Tax Offices.

Investors who are interested in additional matters, such as how to immigrate to Jersey in order to run their business, can send us their inquiries and our team will provide the necessary information.

How can a company appoint a tax agent in Jersey?

In order to appoint a fiscal representative in Jersey the company owners will first need to make sure that the agent complies with the aforementioned qualifications. Our specialists can first assist you with setting up a business in Jersey, followed by the guidance needed to appoint the tax agent.

The appointment of the agent is performed by signing a services agreement and by informing the relevant tax authorities of the fact that the company’s tax submissions and other matters will be partly or wholly undertaken by the appointed agent.

As the appointment of the tax agent is linked with tax compliance in Jersey, we remind investors of the most important taxes for companies:

  • 0% corporate income tax rate for many types of activities for Jersey companies and non-resident companies;
  • 10% corporate income tax for financial services companies;
  • 20% corporate income tax for utility companies, companies that operate in the cannabis industry, and others.

Our team can not only assist with company formation in Guernsey, but also set up a trust in Jersey or a Jersey trust company.

Contact us if you want to know more about the fiscal representative in Jersey, whether you should use this service for your company, and how our team can assist you.