Jersey’s 2021 - 2024 Government Plan was approved by the States Assembly on 18 December 2020. The purpose of the Government Plan is to bring together income and expenditure decisions to improve transparency of government finances. This year’s plan reflects actions taken in response to Covid-19 and the comprehensive plans being put in place to protect the Island’s future. This update, however, aims only to set out key tax measures.

The Baker Tilly network today announced combined global revenue of US$4.04bn for the year ended 31 December 2020, up 5% from 2019 at constant exchange rates. Across the year, global headcount increased to 37,000 people across 148 territories, reflecting our ongoing investment in and commitment to our people.

As we come out of lockdown, business leaders are faced with issues as diverse as ensuring the safety of employees and customers, shoring-up cash and liquidity, repositioning operations and navigating complicated government support programmes.

Persons who registered for tax in Jersey before 2006 will be on a prior year basis (PYB) instead of a current year basis (CYB) of tax. This means these persons pay their tax each year in respect of the previous year’s liability and not the current year.

COVID-19 presents real issues and practical difficulties insofar as the preparation of financial reports and accounts, and the carrying out of audits, are concerned

We recently looked at why, when navigating a crisis, companies must secure the co-operation of their co-workers and staff. The next step in the recovery process is a turning point.

Our 2018-19 international tax survey revealed that transfer pricing and permanent establishments topped the list of concerns for multinational businesses. A year on, and those concerns continue to dominate

In our recent article The road ahead: Now is the time to seek counsel we highlighted the first of the Seven Cs of Business Recovery: seeking Counsel. Here, we look at the second step: Communication.

The key highlights of the Budget 2020 measures and some reminders of changes already in place for this year are set out below:

The unprecedented events caused by the COVID-19 pandemic mean that the context in which companies are planning and reporting is changing rapidly Read more in our article.