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GST advice for trust companies and funds

​​​​Management services which are exempt from GST

Only two categories of management services are exempt from GST:

  • management of an authorised unit trust scheme of a trust-based scheme
  • management of the fund property of a collective investment fund

If you supply either of these types of management services, you cannot deduct the costs you incur as input tax on your GST return, which are regulated under the law.

Schedule 5, Group 1 (j) and (k), of the GST law 2007 on Jersey Law website

Management services that do not fall into one of these two categories are subject to GST at 5% (unless zero-rated).

Zero-rating as an international service

International services that are zero-rated

To be zero-rated as an international service, a supply of goods or services must:

  • be made under a contract with a person who belongs in a country other than Jersey, and
  • directly benefit a person who, at the time the services are performed, belongs in a country other than Jersey, and
  • not be directly connected to land or goods situated in Jersey (other than goods for export)

ISE listing

The place where a person 'belongs' is:

  • where they have their fixed establishment, or
  • where they have their usual place of residence, or
  • where there is more than one establishment, the one that is most closely connected with the service

The usual place of residence of a body corporate is where it is managed or controlled.

International services that are not zero-rated

The following are not zero-rated as an international service:

  • management services provided by a trust company or fund services business, where beneficial ownership of the managed entity lies with a person outside Jersey
  • management services provided to managed entities that are supplied to a person belonging in Jersey
  • services supplied to a trust that are regulated under Schedule 6, paragraph 5(2)(o) of the GST law 2007, because no regulations have been made under this provision

Schedule 6, paragraph 5 of the GST law 2007 on Jersey Law website​

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