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Corporate Charge

Background

The Corporate Charge was introduced on 6 April 2006 for corporate tax payers that are;

• resident in the Island; or

• incorporated, established or constituted under the law of the Island; or

• registered under part XI of the Companies Act 1931 (“the Foreign Companies Register”)

The Corporate Charge was set at £250 for the 2006/07 year of assessment and was payable on 1 January 2007 .

For further details on the Corporate Charge see PN 133-06 The Corporate Charge, PN 136-06 Administration of the Corporate Charge.

Current position

On 6 April 2007 the administration of the Corporate Charge passed to the Financial Services Commission, so the Corporate Charge administered by the Income Tax Division only applied to the 2006/2007 year of assessment.

Corporate Charge relief no longer applies to accounting periods ending on or after 06/04/2009.

See PN 146-07 Repeal of Corporate Charge Legislation for further details.

The FSC's website can be accessed here