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Shareholder loans from Jersey companies: tax form help

​Tax rules for shareholder loans

A loan made by a Jersey company to a Jersey resident shareholder* or to a member of their family or household is liable to tax.

(*a person owning more than 2% of the ordinary share capital of a company)

Filling out the form

Amounts borrowed

If during the year the company has lent to you or increased the amount it has lent to you complete the section as follows:

  • the company name
  • the company tax reference
  • the amount borrowed
  • enter ‘B’ in the borrowed box

If the loan relates to your spouse or civil partner tick the box for spouse of civil partner. 

If the amount is an estimate enter ‘E’ in the estimated box.

Amounts repaid

If during the year you have repaid or reduced the amount of money lent to you by the company complete the section as follows:

  • the company name
  • the company tax reference
  • the amount repaid
  • enter 'R' in the repaid box

If you’re entitled to a tax credit enter the amount available. Keep a record of the supporting calculation as we may ask for this.

If the loan relates to your spouse or civil partner tick the box for spouse of civil partner. 

If the amount is an estimate enter ‘E’ in the estimated box.

Apportioning a tax credit

To apportion the credit the following formula is used:

S / O × T

  • S = the amount you repaid in that year
  • O = the total amount of your loan at the end of the year after any additional loan amounts and any amounts you’ve repaid
  • T = the amount of tax you were charged on the loan in the year the loan was made

More information about calculating tax credits on shareholder loans.

Calculation of shareholder loan credit

Exemptions

A shareholder loan is not taxable only if:

  • the loan advanced is at a commercial rate on interest by a company whose ordinary business is that of money lending
  • the company making the loan is a utility company
  • the company making the loan has an exemption under Article 118C of the Income Tax (Jersey) Law

More help

For more information about shareholder loans:

Calculation of shareholder loan credit

Printable notes

You can print these notes, including a large print version.

Shareholder loan personal tax return notes

Accessible large print notes

Shareholder loan personal tax return large print notes

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