In the last 5 years, Jersey tax has changed immensely.
We had all got used to the arrears way of the company paying its tax and we paying our own. Zero/ten changed all that in 2009 so that only individuals were liable (trading entities that is). Then in 2012 this changed again in that individuals were only liable in what they withdrew.
Tax planning is now essential, whether you are an individual with personal investments to a complex trading business in multiple countries.
There are ways to mitigate income tax and ways to defer it. Please contact us to find out.
Let us know what you think of the latest tax amendment (number 41).
As a shareholder of a local trading business, do you think it's right that when you repay the capital you've invested in your company up to the level of its taxable profit, the amount you repay will be taxed personally on you - even though it was a loan!
Let us have your comments at facebook.com/AJHJersey