‘Quick and Easy’ Applications to Defer Social Security Costs – Community News
Social Security

‘Quick and Easy’ Applications to Defer Social Security Costs

Secretary of the Treasury Susie Pinel.  Photo: ROB CURRIE.  (32193748)
Secretary of the Treasury Susie Pinel. Photo: ROB CURRIE. (32193748)

Last month, the government announced that companies in a number of hard-hit sectors can request a postponement of up to five years for the six months between October 2021 and March 2022.

To qualify, businesses and the self-employed must have filed all of their legal returns, have no outstanding historical debts, and fall within the specified trade sectors.

Applications must be submitted by midnight on January 9, 2022.

Treasury Secretary Susie Pinel said: “We have put in place a quick and easy online form for businesses to use to request this deferral.

“Once Revenue Jersey has received the form, we aim to let businesses know within five business days if they can defer their payments and contributions.”

The decision to introduce the new deferral came after the termination of the Cofunded Payroll Scheme, which subsidized employee wages for ailing companies, at the end of October.

A larger number of companies were granted a two-year deferment of payment for their GST and social security contributions last year as part of a £40 million bailout package.