Jersey: Benefits in Kind - Employer contributions to personal pension plans

Written by Ian Congreave - Filed under: Jersey on March 9th, 2009

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The Income Tax Office has announced that, with effect from the year of assessment 2009, any employer contribution into an individual’s personal pension plan or retirement annuity trust is exempt from charge as a Benefit in Kind (BIK). As a result, employers are no longer required to declare such sums on their annual BIK returns.

Up to and including the year of assessment 2008, any amount paid into an employee’s private pension plan or retirement annuity trust by the employer is reportable and taxable.

Further information:
Pension Change notice to Employers - January 2009

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Written by Ian Congreave -

Filed under: Jersey on March 9th, 2009