Islanders are already expected to provide information on ‘Jersey bank interest’, but the information provided by banks will help avoid errors.
The Government says that having banks share information directly with Revenue Jersey on the interest paid on bank accounts held by local residents will align them with those of more than 60 jurisdictions who already provide the information.
In an email sent to taxpayers earlier this month, Revenue Jersey said the incorrect declaration of bank interest is one of the most common errors that customers make.
“In future Revenue Jersey will use the information provided by the banks to check the interest declared on tax returns and to identify errors.”
Islanders can now submit their tax returns for 2021. For paper returns, the deadline is midnight on Tuesday 31 May 2022.
For online returns, trusts, non-residents and returns filled in by a tax agent the deadline is midnight on 31 July 2022.
Meanwhile, companies have until Saturday 31 December 2022 to deliver their return.
