“It is really encouraging to see that businesses are getting themselves ready for GST on 1st May and I’m pleased that we have completed the process of registering the first businesses for GST. Every business with an annual taxable turnover of over GBP300,000 is obliged by law to register for GST and we’re managing this by inviting businesses to register in phases."

He continued: "We’re currently inviting businesses with a turnover in excess of GBP10 million, and will move to those in the bracket of GBP1 million to GBP10 million on 18th February. We have an excellent team working on GST and I would encourage anyone with any questions to call the Help Desk to arrange a meeting or to discuss their situation.”

Martin Magee added: “We’ve been giving our input on GST from the earliest consultations right through to today. We were first to consult and now appear to have been first to register. We have many customers in foreign jurisdictions, as well as in Jersey, and feel that although no business likes new taxes the discussions we had with Malcolm’s team helped minimise the impact.”

The Income Tax Office is using a phased approach to GST registration, to ensure minimal delays in the processing of applications. Phase one started on Monday 14th January, for businesses with a 12-month taxable turnover of more than GBP10 million. Phase two will begin on Monday 18th February, for businesses with a 12-month taxable turnover of between GBP1 million and GBP10 million; and phase three will commence on Tuesday 18th March, for businesses with a 12-month taxable turnover of between GBP300,000 and GBP1 million, and for those requesting voluntary registration.

However, if businesses have special reasons for registering early they may do so.