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L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

Fisherman's aid tax package

​What is the fisherman's aid tax package?

​Following the storms in 2013 and 2014 the Economic Development department put together a package to support the local fishing industry.

This package compensated commercial fisherman for losses during the storms and covered two separate areas:

  • 50% subsidy on mooring fees
  • grant of up to 80% of the cost of replacing up to 80 lost pots / equipment

This package was financial, so there may be some income tax considerations.

Replacement pots / equipment

Payments received towards the replacement of pots / equipment will not be taxed. 

If you received a payment, you must not include the purchase cost of the pots / equipment in your expenditure or capital allowances calculations.​​

Repaired pots

If the pots have been repaired and you have received a payment towards these costs, this is taxable income and should be declared on your financial statement.

What to submit with your tax return

Enclose a copy of your claim form confirming the amount of financial support received.

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