Jersey: Benefits in Kind – Employer contributions to personal pension plansMonday, March 9th, 2009
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.
Pension Change notice to Employers – January 2009
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