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States sends out interim tax assessments

States sends out interim tax assessments

Friday 29 May 2020

States sends out interim tax assessments


People whose wages and other income have been affected by the corona virus lockdown can now provide the Revenue Service with "a more accurate estimate" of their 2020 income and request a payment plan if they are struggling with their tax bill.

The Revenue Service will be issuing interim tax assessments to any customers that receive income in 2020 which does not have tax deducted at source.

This includes business or rental income, bank interest or an old age pension.

The interim tax assessment will include an estimate of that expected income for 2020, on which tax is due by 30 June and 31 December.

Many people have experienced pay cuts, there has been a sharp increase in the number of people claiming unemployment benefits and surveys have suggested that around half of the island's businesses have been affected by the corona virus lockdown. 

Recognising that financial circumstances may have changed during this crisis, Policy & Resources Vice-President Lyndon Trott said online forms had been developed to make sure people only pay tax on their estimate of income. 

lyndentrott1.jpg

Pictured: Deputy Trott said those experiencing "cash flow difficulties" will also be able to request a payment plan online, if they are unable to pay their bill in full by the due date.

“This is a difficult time for islanders, particularly those in business," Deputy Trott. "Whilst so far we have supported over 2,183 local businesses, with £16.3m paid out in both payroll funding and small business grants, many will still be experiencing cashflow difficulties."

"This is why online forms have been developed at speed, to make it easier to provide a more accurate estimate and request a payment plan, so that we can help islanders manage their finances.”

The public counter at Edward T Wheadon House is currently closed to callers in person, however staff continue to work in the back office and at home to provide a service.

Information on interim tax assessments and the online form to provide a more accurate estimate of a customer’s 2020 income can be found at gov.gg/revenue-service/interim-assessments or by calling 705700. 

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