The JFSC will be waiving any further incremental monthly late fees for outstanding annual returns in light of the covid-19 pandemic, and the challenges it's posing for local companies.
Any Jersey businesses that still need to submit their annual returns or administration fees will now only incur a one-off late fee of £55 for filing between now and the end of year.
The JFSC was planning on increasing fees for annual returns this year, with businesses potentially incurring late fees of between £55 and £550 for returns filed after the 29 February deadline. Due to the unprecedented circumstances posed by the corona virus, they have however decided to cap late fees until next year.
So far, the Companies Registry has received 93% of all annual returns, of which 9% are paper and still to be processed.
“We feel it is absolutely right to waive incremental fees to help local companies in the current circumstances," JFSC's Director of Registry and Registrar, Julian Lamb, commented.
"Our Registry team is endeavouring to process all returns quickly, however we would ask business owners to be patient as we adapt to changing operations and priorities.”
All companies can still get a certificate of good standing regardless of whether their return is yet to be processed.
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