Income Tax
(Prescribed Limit and Rate) (Jersey) Regulations 2013
1 Interpretation[1]
In these Regulations, a reference to an Article by number is a
reference to the Article of that number in the Income Tax (Jersey)
Law 1961.
2 Prescribed
limit[2]
(1) The limit prescribed
for the purposes of Article 135A(3) is £625,000.
(2) The limit prescribed
for the purposes of Article 135A(3A)(a) is £850,000.[3]
(3) The limit prescribed
for the purposes of Article 135A(3A)(b) where only that sub-paragraph
applies to a high value resident by reason of a request by that high value
resident granted under Article 135A(2B), is –
(a) in
relation to a high value resident to whom the grant of consent mentioned in
Article 135A(1)(a) was made before 30th December 2010 (other
than one to whom sub-paragraph (b) applies), £500,000;
(b) in
relation to a high value resident –
(i) such as described
in sub-paragraph (a), and
(ii) to
whom Article 135A(3) applies by reason of a request by that high value
resident granted by the Minister as described in Article 135A(2)(c),
£625,000;
(c) in
relation to a high value resident –
(i) to whom the grant
of consent mentioned in Article 135A(1)(a), or the grant of
Regulation 1(1)(e) status, as the case may be, was made on or after
30th December 2010 and before 1st January 2018,
(ii) other
than such a high value resident as described in Article 135A(2A)(b) or
(c),
£625,000.
(3A) The limit prescribed for the
purposes of Article 135A(3A)(b) other than where that sub-paragraph
applies in the circumstances referred to in paragraph (3), is £850,000.[4]
(3B) The limit prescribed for the
purposes of Article 135A(3B)(a) and (b) is £1,250,000.[5]
(4) The limit prescribed
for the purposes of Article 135A(5) is £1 million.
3 Prescribed
rate[6]
(1) The rate prescribed for
the purposes of Articles 135A(3), (3A)(a) and (3B)(a) is 1 pence in
the pound.[7]
(2) The rate prescribed for
the purposes of Article 135A(5) is –
(a) on
the first £500,000 of the income to be charged to tax in accordance with
that paragraph, 10 pence in the pound;
(b) on
the remainder of that income, 1 pence in the pound.
4 Citation
These Regulations may be
cited as the Income Tax (Prescribed Limit and Rate) (Jersey)
Regulations 2013.