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Jersey Chamber of Commerce

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Category: Financial  Local Business News

JFSC waives incremental late fees for annual returns

Mar 20, 2020

The Jersey Financial Services Commission (JFSC) is waiving any further incremental monthly late fees for outstanding annual returns, in light of potential challenges currently facing 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 increased 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 Coronavirus (Covid-19), the JFSC is capping 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. 

JFSC Director of Registry and Registrar, Julian Lamb commented: “We feel it is absolutely right to waive incremental fees to help local companies in the current circumstances. 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. 

More information about annual returns is available on the JFSC’s website. 

JFSC News Release.

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