Corporate tax return guidance notes: Section 4

Distributions​

Section 4 is only presented to companies which are tax resident in Jersey.

Question 20: Has the company declared any dividends in the account period(s) which end in the year of assessment? 

If the company has declared dividends to shareholders in the financial statements ending in the year of assessment you should answer yes.

Question 20a: Amount of dividends declared by company

The total amount of dividends declared by the company in the financial statement(s) which end in the year of assessment should be declared.

Question 21: Have distributions been made to Jersey resident shareholders in the year of assessment?

Question 21 will only be presented to companies which have answered yes to question 5. (Does a Jersey resident individual ultimately own more than 2% of the ordinary share capital of the company or opaque LLC?)

If distributions have been made to Jersey resident shareholders you should answer yes.

Distributions by a company are defined in Article 3AE of the Income Tax Law.

Question 21a: Amount of distributions to Jersey resident shareholders

You are required to enter the total amount of distributions made to Jersey resident shareholders as declared in questions 22c to 22e inclusive.

If the total amount of distributions declared does not match the total distributions made to Jersey resident shareholders as declared in questions 22c to Q.22e then the words invalid total will appear.

You can add the details of additional shareholder by clicking on add shareholder.

Question 22: Name of Jersey resident shareholder 

For each Jersey resident shareholder who has received a distribution during the year of assessment you are required to return the full name of the Jersey resident shareholder.

Question 22a: TIN of Jersey resident shareholder

If you are able to enter the TIN of the shareholder(s) in you will not be required to provide the shareholder's address.

Question 22b: Address of this Jersey resident shareholder

If you are unable to enter the TIN in question 22a you will be required to provide the address of the Jersey resident shareholder(s).

Question 22c: Distributions taxable under Case IX

Distributions taxable under Case IX are calculated in accordance with Article 81Q to 81Z inclusive of the Income Tax Law.

You are required to declare the gross amount of distributions taxable under Case IX which are made to each Jersey resident shareholder in the year of assessment.

Enter a positive whole number. Ignore pence.

Question 22d: Distributions taxable under Case III

The basis for computing taxable distributions under Case III is in Article 78(1) of the Income Tax Law.

You are required to declare the gross amount of distributions taxable under Case III which are made to each Jersey resident shareholder in the year of assessment.

Enter a positive whole number. Ignore pence.

Question 22e: Distributions taxable under Case III (exempt)

The basis for computing distributions which are exempt under Case III is in Article 78(1A) of the Income Tax Law.

You are required to declare the amount of exempt Case III distributions which are made to each Jersey resident shareholder in the year of assessment.

Enter a positive whole number. Ignore pence.

Question 23: Did the company provide shareholder loans in the year?

The calculation of shareholder loans is in Article 81O of the Income Tax Law.

If the company has made any shareholder loans during the year of assessment you should answer yes.

Question 23a: Accumulative total of all attributable shareholder loans in the year of assessment

Where the company has made shareholder loans during the year of assessment you are require to return the total amount of shareholder loans.

If the total amount of shareholder loans declared does not match the amount of the loans made to Jersey resident shareholders as declared in question 24c then the words invalid total will appear.

You can add the details of additional borrowers by clicking on add borrower.

Question 24: Name of borrower

You are required to declare the full name of each borrower.

Question 24a: TIN of borrower

If you are able to enter the TIN you will not be required to provide the address of the borrower.

Question 24b: Address of borrower.

If you are unable to enter the TIN in question 24a you will be required to provide the address of the borrower.

Question 24c: Total amount attributable to a shareholder loan for the year of assessment

You are required to return the amount of attributable shareholder loans made to each shareholder in the year of assessment. This may be different to the outstanding balance. 

Enter a positive whole number. Ignore pence.