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Selected employers invited to complete the 2024 Economic Activity Return

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Monday 15 April 2024

Invitations to complete the annual Economic Activity Return are being issued to selected employers that operate in Guernsey and Alderney.

Around 500 employers are selected to complete the return each year. Those selected for 2024 will be contacted directly via a letter from today. The Return can be completed online or in digital or paper copy, but completing it is a requirement under law for all selected employers.

The Return asks employers to provide information relating to certain types of incomes and expenditures over the past two years and forecast those for the next two years. This information enables calculation of Gross Value Added (GVA) and Gross Domestic Product (GDP) more accurately than in the past. 

Helen Walton, Head of Data and Analysis, said,

"We started asking for information directly from employers in 2022, so we could improve the accuracy of the GVA and GDP figures we produce and provide to Islanders and government. Late last year, after the new approach had been validated by the UK Office for National Statistics, we were able to publish a revised time series of the figures calculated using the data from the Economic Activity Returns. This year, we are hoping to be able to publish the figures a bit earlier in the year and the timely completion of Returns would greatly help us in achieving this.For those that are selected, completing the Return by the deadline of the 31st July is a legal requirement. But the Return can be completed in a range of formats and we will provide support as needed to those that are required to complete a Return."

For more information go to www.gov.gg/economicactivityreturn.

 

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