Jersey Companies: Accounting & Financial Reporting Obligations

Jersey companies are required to prepare annual accounts and financial statements, confirm their details to the Jersey Registry and file a corporate tax return with Revenue Jersey. Here's a clear overview of what's required and how we can help.

Keeping your books and records

Every Jersey company must maintain accurate accounting records throughout the year. Records must be kept for ten years and they can be held wherever the directors decide (for example with your administrator). These records are the foundation for everything else, annual financial statements, tax returns, and any potential audits.

Preparing your annual financial statements

At the end of each financial year, your company must prepare a set of annual financial statements. Jersey has no size categories so all companies follow the same rules and no exemptions apply to this requirement.

Which accounting standard applies?

Jersey law lets a private company choose its accounting framework, so the right standard depends on your structure and stakeholders. The most common standards used are UK GAAP and IFRS:

• UK GAAP — widely used for private holding and investment entities. Reduced disclosure options available such as FRS 101 or FRS 102 (Section 1A).

• IFRS — commonly used where the entity issues listed debt, is consolidated into an IFRS group or reports to lenders and noteholders.

• Other GAAP — available where your group, sponsor or investors report under them.

• Other considerations — listing rules and finance documents can dictate the framework required to be used.

  
  

We prepare accounts under all of these frameworks.

What gets filed and where?

Private Jersey companies do not file their accounts with the Registry. Accounts are provided to shareholders and submitted to Revenue Jersey alongside the corporate tax return. Public companies must deliver their accounts and the auditor's report to the Registrar within seven months of the period end.

• Shareholders: private companies have 10 months from the period end to prepare accounts.

• Jersey Registry: an annual confirmation statement is due by the last day of February each year, submitted online in myRegistry.

• Revenue Jersey: a corporate tax return is due by 30 November of the following year, even where no tax is payable. The signed, board approved accounts are attached to the return.

  
  

For tax purposes, your appointed tax advisors will file your corporation tax return with Revenue Jersey by 30 November of the following year. Estimated tax installments (50% of estimated tax liability) are usually due by 31 May. We work closely with your tax team, providing them with the accounts and any supporting information they need.

Do you need an audit?

A private company needs an auditor only if its articles of association require one or its shareholders resolve to appoint one. A public company must always appoint an auditor, and a company with securities on a UK or EU regulated market must use a recognised auditor.

In practice many SPVs are audited anyway, because the finance documents, noteholders, lenders, a listing or the parent group require it. Where an audit is required, the auditor must be independent and either hold a qualification from a recognised UK or Irish accountancy body or be authorised by the JFSC.

Where an audit is required, we work alongside your appointed auditors, preparing schedules, reconciliations and supporting documentation, and handling queries on your behalf.

Other reporting requirements

Beyond the accounts and financial statements, several other reporting requirements apply depending on your entity:

• Economic Substance:  Jersey tax resident companies that carry on a relevant activity must meet a substance test. The corporate tax return includes a dedicated economic substance section.

• FATCA and CRS:  Reporting Financial Institutions file separate FATCA and CRS returns with Revenue Jersey by 30 June of the following year.

Key deadlines at a glance

Obligation	Deadline
File accounts with Registrar (Public)	7 months after year end
Hand accounts to Shareholder (Private)	10 months after year end
Annual confirmation statement	Last day of February each year
File corporate tax return	30 November of following year (tax advisors)
FATCA and CRS reporting	30 June of following year (tax advisors)

We monitor all deadlines and will be in touch ahead of time to avoid late filing penalties.

How we can help?

We provide a focused accounting and financial reporting service for Jersey companies:

• Bookkeeping — accurate records maintained throughout the year.

• Preparation of annual financial statements — under GAAP or IFRS, tailored to your structure and transaction documents.

• Registry requirements — provide your administrator or registered office provider with information and accounts needed for the annual confirmation statement and other Registry filings.

• Tax liaison — we don't prepare tax returns, but we'll introduce you to trusted local tax advisors and work closely alongside them, providing support for any questions they have on your accounts, financial statements, economic substance and FATCA and CRS reporting requirements.

• Audit liaison — where an audit is required, we work with your auditors to make the process as smooth as possible.

• Investor and Lender reporting — provide management accounts and reporting packs to noteholders, lenders or your parent group, where transaction documents require them.

  
  

If you'd like to understand what applies to your company, or simply want to hand the reporting obligations over to us, we'd love to hear from you. Please reach out to paul.young@anomalyinternational.com for further information on how we can help.

*Please note that this article is intended as a general guide only and should not be relied upon as legal or professional advice. Deadlines and requirements are subject to change and we recommend seeking tailored advice for your specific circumstances.