Around 600 self-employed businesses in the Island will shortly receive a survey, as part of the wider Business VAT Survey.
It has been designed with self-employed businesses in mind and asks for information on either the irrecoverable VAT incurred by their business or business expenditure.
To help self-employed businesses complete the survey, the Treasury and Chamber of Commerce will be hosting two online support sessions, on April 11 and 18, as well as providing telephone support. Details will be shared with participants in their survey invitation letters.
Trust and Corporate Service Providers (TCSPs) in the Island will soon be invited to complete a business VAT survey as well. This will measure the irrecoverable VAT incurred by the structures managed by our TCSPs.
The Treasury is working with the Association of Corporate Service Providers (ACSP) to run an online support session for TCSPs on April 4. Again, details of the online session and the telephone support line will be provided to participants in their survey invitation letters.
Responses are compulsory as the data collected is used to calculate the share of VAT, customers and certain other duties that the Island receives from the UK under the Final Expenditure Revenue Sharing Arrangement (FERSA).
