This return seeks to collect information on economic activity in Guernsey and Alderney. The information will be used primarily to improve the accuracy of the GVA and GDP figures and forecasts that are published by the States of Guernsey and used in various ways. While not compulsory this year, you are encouraged to submit a return if you are a sole-trader or you are the representative of a partnership, company, foundation, charity or any other (including not-for-profit) organisation that operates in Guernsey or Alderney.
Gross Value Added (GVA) is one of the main measures used to determine the value generated by each sector of Guernsey's economy in any particular year. It is used by the States of Guernsey to guide how much money should be invested in public infrastructure or donated to overseas aid, for example, and will also be used by policy makers in monitoring and supporting Guernsey's economic recovery following the coronavirus pandemic. Gross Domestic Product (GDP) per capita figures are used to make comparisons with other jurisdictions and in the promotion of the Island.
Expand for more information on GVA and GDP
- To date, information provided by companies and sole-traders to the Revenue Service (Income Tax) has been used to make these calculations. However, this is not the best practice and does not give the most accurate figures. For example, the taxable profit (after allowances have been taken into account) does not give the full picture of the profit and for companies that pay 0% tax, the information may be less complete than for others. Profits, known as gross operating surplus in relation to corporations, and mixed income (a mix of profits and remuneration for sole-traders) are two of the four components of GVA. GVA is calculated (using the income method) as the sum of:
- Compensation of employees (which includes remuneration in the form of wages paid to employees plus estimates of pension and social security contributions paid on their behalf by their employer)
- Gross operating surplus (which is equated to company trading profits and public sector trading body surpluses)
- Mixed income (the remuneration and profits of sole traders)
- Income of households (rental income and owner occupied imputed rents, net of maintenance costs and borrowing costs)
- To calculate GDP, taxes on products are added and subsidies on products are deducted from the total GVA figure.
- Further background information, can be found here: https://gov.gg/article/150854/States-Meeting-on-27th-October-2015-Billets-XIX-Budget-and-XVIII and here: https://gov.gg/gdp.
The online return form comprises five screens and, once you have gathered the information below, it should take no longer than 15 minutes to complete.
Please read the information below before you start to complete the return form.
Screen 1 - contact details
You'll be asked to provide name, contact details and the following:
- Guernsey/Alderney Company Registry Entity Number (if you have one)
- Income Tax Reference (if you have one)
A confirmation email including a PDF copy of the information you submit will be sent to the email address provided on this screen.
Screen 2 - sector and number of employees
You'll be asked to select the economic sector from a list (see https://gov.gg/ecodes for more detail on which activities are included within each sector heading) and the number of employees in the Bailiwick of Guernsey.
Screen 3 - income and expenditure in 2018, 2019 and 2020
You'll be asked to provide:
- Income (turnover) from Bailiwick of Guernsey operations for 2018, 2019 and 2020
- Expenditure (costs) for Bailiwick of Guernsey operations for 2018, 2019 and 2020
- Gross operating surplus/mixed income for Bailiwick of Guernsey operations for 2018, 2019 and 2020
This information can often be found in year-end accounts. Un-audited or estimated figures can be provided if audited or exact figures are not available at the time of completion. If the information does not relate to the calendar year (Jan-Dec), you will need to note what period the data relates to.
Screen 4 - income and expenditure in 2021 and 2022
You'll be asked to provide income and expenditure projections/estimates for your business in 2021 and 2022 compared with 2019 (pre-coronavirus pandemic).
Screen 5 - confirm and send
The final screen includes a comments box where you can provide additional details if you wish. Feedback is welcome on the return form and process itself. Respondents are required on screen 5 to confirm that the details provided are accurate before submitting the return.
If you have any questions, would prefer a hard copy of the survey or have feedback on the survey please contact us via firstname.lastname@example.org
The deadline for returns and feedback is Thursday 10th June 2021.
The Economic Statistics (Guernsey and Alderney) Law 2019 enables the States of Guernsey to require this information to be provided, but it is not compulsory this year. Subject to feedback from this pilot, individuals and organisations with (for example) 30 or more employees and/or an annual turnover in excess of £1 million could be required to complete a refined version of this return in future years (although others will be welcome to make a return also).
All information provided is treated (in accordance with the Economic Statistics (Guernsey and Alderney) Law 2019) as strictly confidential and will be used solely by the Economic Statistics Supervisor and their officers in the Data and Analysis Service to compile aggregate statistics, such as GVA and GDP. The States of Guernsey will process any personal data that you provide via this online form in accordance with the Data Protection (Bailiwick of Guernsey) Law, 2017. Further information about how your personal data is processed by the States of Guernsey can be found here and in the Data & Analysis Fair Processing Notice, which can be downloaded from here.
If you would like to receive an email and/or text notification when the next version of this bulletin becomes available (or you wish to stop receiving those notifications), please log in or register here. To find out how Data and Analysis process your personal data if you sign up for notifications or in the production of national statistics you can read our Fair Processing Notice [965kb].