Married women will soon be able to discuss their tax affairs with the Jersey tax authority, without their husband’s permission, following Parliamentary approval of an update to Jersey’s tax rules.

On February 4, lawmakers approved the proposed change by 40 votes to two, with two abstentions.

Under the current rules, married women are prevented from discussing their tax affairs with Revenue Jersey without their husband’s permission, with married women only permitted to file their own tax return if they have opted for a separate assessment.

Dragging things kicking and screaming into the modern era, from January 1, 2021, both spouses and civil partners will be able to contact Revenue Jersey to discuss the couple’s tax affairs and update their tax information.

The changes will mean that in 2022 (for the 2021 tax year of assessment), the couple will still receive a joint tax return, … Read More »

Naturally, a great deal of the debate about the United Kingdom’s future in the European is focusing on how a Brexit would affect the UK economy, and, to a lesser extent, the economy of the European Union. However, it is not just the UK and the EU that are facing highly uncertain futures. There are various other territories dotted around northern and western Europe that anxiously await the result of Britain’s EU referendum on June 23, 2016, including the UK’s Crown Dependencies, Guernsey, Jersey, and the Isle of Man, and Gibraltar, which is classified for the purposes of international law as a British Overseas Territory.

Largely self-governing, none of these jurisdictions is fully “in” the EU, but they are inextricably tied to Europe through their strong constitutional links with the UK, which looks after their foreign affairs. Guernsey and Jersey, … Read More »

BEPS may be changing the international tax landscape irrevocably – whether for better or worse being a matter of intense debate – but the allure of offshore and low-tax financial centers remains as strong as ever. For example, the little island of Guernsey, which at just 78 square kilometers in area is over half the size of Washington DC, is now home to more non-UK entities listed on the London Stock Exchange than any other jurisdiction globally. In fact, the UK Crown Dependencies (Guernsey, Jersey, and the Isle of Man) all play a hugely important role in funneling investment into the capital markets of London, and the wider economy of the UK. One-third of the Chinese companies listed on London’s Alternative Investment Market (AIM) were incorporated in Jersey in 2014, up from one-quarter prior to 2008. LSE data also shows … Read More »