Finance
(2024 Budget) (Jersey) Law 2024
Adopted
by the States 14th December 2023
Sanctioned
by Order of His Majesty in Council 10th April 2024
Registered by the Royal Court 19th April 2024
Coming into force 1st January 2024
THE STATES, subject to the sanction of His Most
Excellent Majesty in Council, have adopted the following Law –
Part 1
Standard
rate of income tax set for 2024
1 Standard rate of income
tax for 2024
Income tax is levied and
charged for the year 2024 at the standard rate of 20 pence in the
pound, in accordance with and subject to the Income Tax
(Jersey) Law 1961.
Part 2
Income Tax (Jersey) Law 1961
amended
Division
1 – Introductory
2 Amendment of the Income Tax (Jersey) Law 1961
This Part amends the Income Tax
(Jersey) Law 1961.
Division
2 – returns
3 Article 17A (penalty for late delivery
of return) amended
In Article 17A(2) –
(a) in sub-paragraph (a)(ia) for “31st December” there is substituted “30th November”;
(b) in sub-paragraph (c)
for “31st January” there is substituted “15th January”.
4 Article 19A (duty of employer or
building contractor to register) amended
In Article 19A –
(a) in paragraphs (1)
and (2) for “one month” there is substituted “7 days”;
(b) in paragraph (3)
after “A person who” there is inserted “, without reasonable excuse,”.
5 Article 20C (returns of information as
to benefits in kind) amended
In Article 20C(1) for “31st January” there is substituted “15th
January”.
6 Article 20E (returns of information by
partnerships) amended
In Article 20E –
(a) in paragraph (5) “, who
cannot be a limited partner,” is deleted;
(b) for paragraph (6)
there is substituted –
“(6) When
determining who the responsible partner is the Comptroller –
(a) must not determine that a
limited partner is the responsible partner, unless that partner is also a
general partner, in which case the partner acts as a general partner for the
purpose of being the responsible partner; and
(b) must have regard to a
nomination (if any) made by the partnership.”.
Division
3 – Appeals
7 Article 27 (right
of appeal) amended
In Article 27 after paragraph (3) there is inserted –
“(4) If
a person has given notice in writing to the Comptroller in accordance with
paragraph (1) and has not received notice of the hearing within 90 days
of giving that notice, the person may give notice directly to the Commissioners,
who may admit the appeal.”.
8 Article 36A (settling appeals by
agreement) inserted
After Article 36 there is inserted –
“36A Settling appeals by agreement
(1) Before
an appeal is determined by the Commissioners, the Comptroller and the appellant
may make an agreement in writing that the assessment is to be treated as –
(a) confirmed;
or
(b) altered
in accordance with the agreement.
(2) The
appellant may, within a period of 40 days beginning with the day on which
the agreement is made, inform the Comptroller, in writing, that the appellant revokes
the agreement.
(3) The
effect of an agreement between the Comptroller and the appellant that is not
revoked under paragraph (2) is that –
(a) the
assessment is to be treated as if, at the time the agreement was made, the
Commissioners had determined the appeal exactly as agreed, and the Comptroller
may revise any assessments or notices to give effect to the agreement; and
(b) the
agreement is considered a final determination of the appeal and there is no
further right of appeal.”.
Division
4 – Provisions relating to Schedule A
9 Article 51
(Schedule A) amended
In Article 51(1)(b)
after “on a commercial basis” there is inserted “as part of a property trade”.
Division
5 – Provisions relating to Schedule D
10 Article 62 (mode of
charge under Schedule D; the Cases) amended
In Article 62 after paragraph (2) there is inserted –
“(3) In
paragraph (1), in Case V, income does not arise from a possession out
of Jersey if it is income from emoluments other than pensions arising from an
office or employment exercised in Jersey.”.
11 Article 80 (basis of
computation under Cases IV and V) amended
In Article 80 –
(a) paragraphs (1A) and (1B) are deleted;
(b) after paragraph (3A) there is inserted –
“(3B) Tax in respect of distributions, within the
meaning of Article 3AE(1)(c) only, of a company
is not charged under Case V of Schedule D on so much of a
distribution as represents repayment of the principal amount advanced to the
company by a member, or a person connected with a member, where the principal
amount was advanced on a commercial basis.”.
Division
6 – Personal allowances and reliefs
12 Article 92A (threshold for exemption
from income tax) amended
In Article 92A –
(a) in paragraphs (2)
and (2A) for “£29,750” there is substituted “£32,050”;
(b) in paragraphs (4)
and (4A) for “£7,350” there is substituted “£7,950;
(c) in paragraph (6) for “£18,550”
there is substituted “£20,000”.
13 Article 92B (increase in exemption
threshold for child day care) amended
In Article 92B –
(a) in paragraph (1)(c)
and (d) for “£18,300” there is substituted “£19,700”;
(b) in paragraph (1)(e)
for “£7,050” there is substituted “£7,600”;
(c) in paragraph (5) in
the definition “qualifying income” –
(i) in sub-paragraph (a)
for “£7,350” there is substituted “£7,950”,
(ii) in sub-paragraph (b)
for “£5,150” there is substituted “£5,550”.
14 Article 95
(children) amended
In Article 95(1) and
(4) for “£3,450” there is substituted “£3,700”.
15 Article 98A (additional allowance in
respect of children) amended
In Article 98A(1A) for “£5,150” there
is substituted “£5,550”.
Division 7 – Unilateral relief from
taxation for foreign income
16 Article 112 (tax
credits) amended
In Article 112 –
(a) in paragraph (3) for
“or under Part 14A in the case of a qualifying
company as defined in that Part” there is substituted “Part 14A (in the case of a qualifying company as defined in that
Part) or Part 14B”;
(b) in paragraph (5) for
“or under Part 14A (in the case of a qualifying
company as defined in that Part),” there is substituted “Part 14A (in the case of a qualifying company as defined in that
Part) or Part 14B”;
(c) for paragraph (9A) there is substituted –
17 Part 14B (unilateral
relief from taxation on foreign income from employment) inserted
After Part 14A there is
inserted –
“Part 14B
unilateral relief from
taxation on foreign income from employment
114D Interpretation of Part 14B
“foreign income” means emoluments
other than pensions arising from an office or employment exercised outside
Jersey;
“foreign tax”, except in Article 114E(6) and (7), means any tax on income or of a similar
character to Jersey income tax imposed by the law of the country or territory
from which the foreign income arises or accrues;
“income tax” means tax chargeable under this
Law;
“overseas territory” means the country or
territory from which foreign income arises or accrues.
114E Unilateral relief from taxation on foreign
income from employment
(1) This
Article applies if –
(a) in
respect of the foreign income of an individual, income tax is chargeable under
Case II of Schedule D;
(b) foreign
tax is payable in respect of the foreign income under the law of an overseas
territory;
(c) the
individual is not a high value resident within the meaning of Article 135A;
(d) the
individual is ordinarily resident in Jersey; and
(e) no
claim for relief by way of a credit under Article 112 has been made in
respect of the same foreign tax.
(2) If
this Part applies, the amount of tax chargeable under Case II of Schedule D
in respect of the foreign income is to be reduced by the amount of a credit
equal to the lower of –
(a) the
amount of the foreign tax; or
(b) the
amount produced by –
(i) computing the amount of
the foreign income in accordance with this Law, and
(ii) charging
it to income tax at the standard rate.
(3) In
computing the amount of foreign income in respect of which the credit is to be
given, no deduction is to be allowed in respect of foreign tax (whether in
respect of the same or any other income).
(4) A
credit to be given under this Part must not exceed the amount of credit that
would be allowed if all reasonable steps have been taken to minimise the amount
of tax payable in the overseas territory under –
(a) the
laws of that territory; and
(b) any
arrangements under Article 111 made in relation to that territory.
(5) For
the purposes of paragraph (4) –
(a) “reasonable
steps” include –
(i) claiming or otherwise
securing the benefit of reliefs, deductions, reductions or allowances, and
(ii) making
elections for tax purposes; and
(b) questions
about what would be reasonable steps are to be
determined on the basis of what might reasonably be expected to have been done
in the absence of relief under this Part.
(6) The
total credit for foreign tax to be allowed for an individual in a year of
assessment must not exceed the total income tax payable in respect of Case II
of Schedule D for the year of assessment.
(7) For
the purposes of paragraph (6) –
“total credit” means the total of credit under
this Article and any credit to be allowed to a person for the same year of
assessment under arrangements having effect under Article 111; and
“foreign tax” includes both foreign tax for the
purposes of this Article and foreign tax as defined in Article 112.
(8) A
claim for an allowance by way of credit under this Part may not be made later
than 2 years after the end of the year of assessment, and in the event of
a dispute about the amount allowable, the claim is subject to objection and
appeal in the same manner as an assessment.
(9) If
the amount of a credit is rendered excessive or insufficient by reason of an adjustment
of the amount of tax payable in Jersey or elsewhere, nothing in this Law
limiting the time for the making of assessments or claims for relief applies to
any assessment or claim to which the adjustment gives rise.
(10) A
credit under this Part is not refundable.”.
Division
8 – Exemptions
18 Article 115
(miscellaneous exemptions) amended
In Article 115 after
sub-paragraph (r) there is inserted –
19 Article 116
(exemption for certain friendly societies) deleted
Article 116 is
deleted.
20 Article 118B (exemption of certain income, profits or gains of a non-resident)
amended
In Article 118B –
(a) in paragraph (1) for
sub-paragraph (f) there is substituted –
“(f) emoluments
other than pensions arising from an office or employment of an individual who
is present in Jersey for a total of no more than 60 days in the year of
assessment (“a short-term business visitor”);”;
(b) after paragraph (1A) there is inserted –
“(1B) When calculating the number of days an individual is present in
Jersey for the purposes of paragraph (1)(f), any day on which the
individual is present in Jersey is included, whether for the whole or part of
that day.
(1C) An employer that has employees who are short-term business
visitors is not required to –
(a) register
under Article 19A(1) if all of the employees are
short-term business visitors; or
(b) deliver a return under
Article 20 and make deductions under Article 41B
in respect of employees who are short-term business visitors.”.
Division
9 – Independent taxation
21 Article 3 (general
provisions as to interpretation) amended
In Article 3(1) –
(a) in the definition
“independently taxed civil partner” –
(i) in sub-paragraph (c)
for “Article 122DA or 122DB”
there is substituted “Article 122DA, 122DB or 122DC”,
(ii) after sub-paragraph (c)
there is inserted –
“(d) the person or their civil
partner has elected under Article 122DD to be
independently taxed;”;
(b) in the definition
“independently taxed spouse” –
(i) in sub-paragraph (c)
for “Article 121C or 121D”
there is substituted “Article 121C, 121D or 121E”,
(ii) after sub-paragraph (c)
there is inserted –
“(d) the person or their spouse
has elected under Article 121F to be
independently taxed;”.
22 Article 121F (election by spouses for
independent taxation) inserted
After Article 121E there is inserted –
“121F Election by spouses for
independent taxation
(1) A
person who is married may elect to be independently taxed.
(2) An
election is made by giving notice in writing to the Comptroller no later than
30th September of the year before the year of assessment.
(3) An
election has the effect that the person making it and their spouse are
independently taxed spouses for the year of assessment and all subsequent years
of assessment.
(4) An
election cannot be revoked.
(5) The
Comptroller must inform the person’s spouse about the election and the effect
of the election.”.
23 Article 122DD (election by civil
partners for independent taxation) inserted
After Article 122DC there is inserted –
“122DD Election by civil partners
for independent taxation
(1) A person who is in a
civil partnership may elect to be independently taxed.
(2) An
election is made by giving notice in writing to the Comptroller no later than
30th September of the year before the year of assessment.
(3) An
election has the effect that the person making it and their civil partner are
independently taxed civil partners for the year of assessment and all
subsequent years of assessment.
(4) An
election cannot be revoked.
(5) The
Comptroller must inform the person’s civil partner about the election and the
effect of the election.”.
Division
10 – Special provisions as to pensions etc.
24 Article 130C (relevant earnings)
amended
In Article 130C(1) after sub-paragraph (b) there is
inserted –
“(c) income that is charged
under Article 51(1)(b).”.
25 Article 131CE (permitted commutation –
trivial pension) amended
In Article 131CE –
(a) in paragraph (1)(c)
for “£35,000” there is substituted “£50,000”;
(b) for paragraph (3)
there is substituted –
“(3) An
approved Jersey Scheme may permit the pension holder to elect to commute the
whole of the fund value if, at the time the election is made, the fund value
does not exceed £15,000.
(4) But
the fund value of an approved Jersey Scheme may only be commuted under
paragraph (3) if the pension holder is no longer an employee of the
employer contributing to the approved Jersey Scheme.”.
Division
11 – Expenditure on regulatory compliance activity
26 Article 3 (general
provisions as to interpretation) amended
In Article 3(1)
after the definition “registered person” there is inserted –
“ “regulatory compliance
activity” has the meaning given in Article 3AF;”.
27 Article 3AF (regulatory compliance
activity) inserted
After Article 3AE there is inserted –
“3AF Regulatory compliance
activity
(1) For
the purposes of this Law regulatory compliance activity is activity listed in
paragraph (2) carried out by an eligible entity.
(2) The
activities are –
(a) the prevention of
financial crime, including combatting money laundering activity and combatting
of the financing of terrorism and the proliferation of weapons of mass
destruction;
(b) the management of data
and information and cyber risks and the protection of identity and privacy;
(c) other activities required
by the Jersey Financial Services Commission for risk management, fraud
prevention and the good conduct of financial services;
(d) regulatory reporting and
analytics, and compliance management in relation to the activities in
sub-paragraphs (a) to (c).
“eligible entity” means an
entity that –
(a) is a financial services
business, within the meaning of the Proceeds of
Crime (Jersey) Law 1999, which is registered with the Jersey Financial
Services Commission; and
(b) is a financial services
company charged to tax under Article 123D of
this Law;
“Jersey Financial Services Commission”
means the Jersey Financial Services Commission
established under Article 2 of the Financial
Services Commission (Jersey) Law 1998.”.
28 Article 70E (deductions for
expenditure on regulatory compliance activity) inserted
After Article 70D there is inserted –
“70E Deductions for expenditure on
regulatory compliance activity
(1) In
computing the profits or gains to be charged in respect of a trade or
profession under Schedule D there is allowed to be deducted as expenses an
amount equal to 150% of eligible expenditure for the purposes of regulatory
compliance activity.
(2) For
the purposes of paragraph (1) eligible expenditure is expenditure in the
2024 year of assessment and subsequent years on –
(a) computer hardware;
(b) software, including
software subscriptions and licences; and
(c) training that is
delivered by an external provider on hardware or software.”.
29 Article 106BA (special provision as to
regulatory compliance activity) inserted
After Article 106B there is inserted –
“106BA Special provision as to regulatory
compliance activity
(1) This
Article applies to capital expenditure in the 2024 year of assessment and
subsequent years on hardware or software for use in regulatory compliance
activity (“eligible expenditure”).
(2) But
this Article does not apply if –
(a) the expenditure has been deducted
under Article 70E; or
(b) the hardware or software
is transferred between connected persons (within the meaning of Article 3A) and the person transferring the hardware or software
acquired it before 1st January 2024.
(3) If
this Article applies –
(a) hardware or software
acquired for the purposes of regulatory compliance activity is treated for the
purposes of this Part as if it is plant or machinery;
(b) for “25%” in Article 106A(2), there is substituted “150%”; and
(c) if the hardware or
software is disposed of in conditions where Article 106A(5)
applies, the balancing charge is determined in accordance with paragraphs (4)
and (5).
(4) Except where paragraph (5) applies, if
hardware or software is disposed of the person that incurred the eligible
expenditure is liable to a balancing charge equal to 100% of the disposal value
(calculated in accordance with Article 106A(6)), for
the basis period in which the disposal occurs.
(5) If
hardware or software if hardware or software is disposed and the person that
incurred the eligible expenditure and the person to which the hardware or
software is transferred are connected persons –
(a) the disposal value is
deemed to be the price that the hardware or software would fetch if sold on the
open market; and
(b) the person that incurred
the eligible expenditure is liable to a balancing charge –
(i) equal to 100% of the
deemed disposal value for the basis period in which the disposal occurs if the
disposal occurs 3 or more financial periods after the hardware or software is
acquired, or
(ii) equal to 150% of the
deemed disposal value for the basis period in which the disposal occurs if the
disposal occurs fewer than 3 financial periods after the hardware or software
is acquired.”.
Part 3
Customs and Excise (Jersey) Law 1999
amended
30 Amendment of the Customs and Excise (Jersey)
Law 1999
This Part amends the Customs and
Excise (Jersey) Law 1999.
31 Excise duty: spirits and
spirits-based drinks
In paragraph 1 of
Part 2 of Schedule 1 –
(a) in sub-paragraph (a)
for “£21.77” there is substituted “£22.75”;
(b) in sub-paragraphs (b)
and (c) for “£43.50” there is substituted “£45.46”.
32 Excise duty: wines
For the table in
paragraph 2 of Part 2 of Schedule 1 there is substituted –
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|
|
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Wines exceeding 1.2% volume
but not exceeding 5.5% volume
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88.65
|
|
Wines exceeding 5.5% volume
but not exceeding 15% volume
|
234.91
|
|
Wines exceeding 15% volume
but not exceeding 22% volume
|
309.71
|
|
|
|
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Wines exceeding 22% volume
|
45.46”.
|
33 Excise duty: beer
In paragraph 3 of
Part 2 of Schedule 1 –
(a) in sub-paragraph (a) –
(i) in clause (i) for “£17.67” there is substituted “£18.47”,
(ii) in clause (ii) for “£35.32”
there is substituted “£36.91”,
(iii) in clause (iii) for “£65.74”
there is substituted “£68.70”;
(b) in sub-paragraph (b) –
(i) in clause (i) for “£35.32” there is substituted “£36.91”,
(ii) in clause (ii) for “£70.64”
there is substituted “£73.82”,
(iii) in clause (iii) for “£131.47”
there is substituted “£137.39”.
34 Excise duty: cider
In paragraph 4 of
Part 2 of Schedule 1 –
(a) in sub-paragraph (a) –
(i) in clause (i) for “£17.67” there is substituted “£18.47”,
(ii) in clause (ii) for “£35.32”
there is substituted “£36.91”,
(iii) in clause (iii) for “£65.74”
there is substituted “£68.70”;
(b) in sub-paragraph (b) –
(i) in clause (i) for “£35.32” there is substituted “£36.91”,
(ii) in clause (ii) for “£70.64”
there is substituted “£73.82”,
(iii) in clause (iii) for “£131.47”
there is substituted “£137.39”.
35 Excise duty: other
alcoholic beverages
In paragraph 5 of
Part 2 of Schedule 1 for “£43.50” there is substituted “£45.46”.
36 Excise duty: tobacco
For the table in
paragraph 6 of Part 2 of Schedule 1 there is substituted –
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(a)
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unprocessed tobacco
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616.30
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(b)
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cigars
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724.39
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|
(c)
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cigarettes
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807.29
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(d)
|
hand-rolling tobacco
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807.29
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|
(e)
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processed tobacco other than
types (b) to (d)
|
642.23”.
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37 Excise duty: hydrocarbon
oil
(1) In
Article 1 in the definition “hydrocarbon oil” after “all liquid
hydrocarbons” there is inserted “(including hydrotreated vegetable oil)”.
(2) In
paragraph 7 of Part 2 of Schedule 1 –
(a) for the table in
sub-paragraph (1) there is substituted –
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(a)
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higher octane ultra low sulphur petrol
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65.83
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(b)
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all other ultra low sulphur petrol
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63.89
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(c)
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ultra low
sulphur diesel
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63.89
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|
(d)
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hydrotreated vegetable oil
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54.89
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|
(e)
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all other types of hydrocarbon oil
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67.97”.
|
(b) in sub-paragraph (2)
after clause (c) there is inserted –
“(d) “hydrotreated
vegetable oil” is oil that meets the conditions in sub-paragraph (3); and
(e) “other
types of hydrocarbon oil” includes blended oils that do not fall within clauses (a)
to (d).”;
(c) after sub-paragraph (2)
there is inserted –
(a) is
a liquid hydrocarbon produced from sustainable, renewable sources of –
(i) vegetable oil,
(ii) waste
food, or
(iii) animal
processing by-products;
(b) conforms
to Standard EN 15940:2023 of the European Committee for Standardization
but does not contain Fatty Acid Methyl Esters (FAME); and
(c) carries
the International Sustainability and Carbon Certification or another
certification of sustainability that the Agent of the Impôts
is satisfied is equivalent.”.
38 Excise duty: motor
vehicles – general
In paragraph 8 of
Part 2 of Schedule 1 –
(a) for sub-paragraph (3)
there is substituted –
“(3) If
more than one CO2 mass emission figure is
specified in a document described in sub-paragraph (2), the CO2 mass emission figure established for the motor
vehicle is –
(a) the figure that was arrived
at using the Worldwide Harmonised Light Vehicles Test Procedure (“WLTP”) as set out in the United Nations Economic Commission
for Europe Global Technical Regulation No. 15, as amended from time to
time; or
(b) if no figure was arrived
at using the WLTP –
(i) the figure specified as
the combined figure or, if there is more than one combined figure, the highest
of them, or
(ii) if there is no combined
figure, the highest figure specified.”;
(b) for the table in
sub-paragraph (4) there is substituted –
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0
|
0
|
|
1-50
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35.00
|
|
51-75
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73.00
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|
76-100
|
240.00
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|
101-125
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422.00
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126-150
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715.00
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151-175
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1,367.00
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176-200
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4,200.00
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201 or more
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7,937.00”;
|
(c) for the table in
sub-paragraph (5) there is substituted –
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0
|
0
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1-500
|
35.00
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|
501-1400
|
291.00
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|
1401-1800
|
567.00
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|
1801-2000
|
814.00
|
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2001-2500
|
1,290.00
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2501-3000
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2,125.00
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3001-3500
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4,200.00
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3501 or more
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7,937.00”.
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39 Excise duty: motor
vehicles – commercial vehicles
In paragraph 8A of Part 2 of Schedule 1 –
(a) for the table in
sub-paragraph (2) there is substituted –
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0
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0
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0
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1-50
|
0
|
0
|
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51-75
|
0
|
53.66
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76-100
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0
|
160.97
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101-125
|
53.66
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268.28
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126-150
|
160.97
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429.24
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|
151-175
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268.28
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804.83
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176-200
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429.24
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1,341.38
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201 or more
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804.83
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1,931.58”;
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(b) for the table in
sub-paragraph (3) there is substituted –
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0
|
0
|
0
|
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1-500
|
0
|
0
|
|
501-1400
|
0
|
214.62
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|
1401-1800
|
0
|
375.59
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|
1801-2000
|
214.62
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536.55
|
|
2001-2500
|
375.59
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751.17
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|
2501-3000
|
536.55
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1,073.10
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|
3001-3500
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751.17
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1,395.03
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3501 or more
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1,073.10
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1,931.58”.
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40 Excise duty: restricted
speed agricultural tractors
For the table in
paragraph 9(2) of Part 2 of Schedule 1 there is
substituted –
“Table –
restricted speed agricultural tractors
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0cc
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0
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0
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0
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0
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More than 0cc
but not more than 1000cc
|
0
|
0
|
0
|
0
|
|
More than 1000cc
but not more than 1400cc
|
180.90
|
180.90
|
120.60
|
89.94
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More than 1400cc
but not more than 1800cc
|
301.49
|
301.49
|
198.27
|
150.24
|
|
More than 1800cc
but not more than 2000cc
|
456.84
|
456.84
|
295.36
|
229.95
|
|
More than 2000cc
but not more than 2500cc
|
601.96
|
601.96
|
390.41
|
301.49
|
|
More than 2500cc
but not more than 3000cc
|
902.43
|
902.43
|
590.72
|
451.73
|
|
More than 3000cc
but not more than 3500cc
|
1,203.92
|
1,203.92
|
782.86
|
601.96
|
|
More than 3500cc
|
1,505.41
|
1,505.41
|
981.12
|
751.17”.
|
Part 4
Goods and Services Tax (Jersey) Law 2007
amended
41 Amendment of the Goods and Services Tax
(Jersey) Law 2007
This Part amends the Goods and
Services Tax (Jersey) Law 2007.
42 Article 23 (where
goods supplied) amended
In Article 23 –
(a) in paragraph (3)(a)
for “either Condition A or Condition B” there is substituted
“Condition A, Condition B or Condition C”;
(b) in paragraph (3B) –
(i) for “Condition A is
also met” there is substituted “Condition B is met”,
(ii) in sub-paragraph (a)
for “Paragraph (3A)” there is substituted
“Condition A”;
(c) in paragraph (3C) for “Condition B” there is substituted “Condition C”.
43 Article 26 (when
goods supplied) amended
In Article 26(3)(a) –
(a) for “or (3B)” there is substituted “or Condition B in Article 23(3B)”;
(b) for “Condition B in
Article 23(3C)” there is substituted “Condition C
in Article 23(3C)”.
44 Schedule 1
(registration) amended
In Schedule 1 –
(a) in paragraph 1 –
(i) in sub-paragraph (5)
“(including taxable supplies of goods that are treated as supplied in Jersey
under Article 23(3)(a))” is deleted,
(ii) after sub-paragraph (5)
there is inserted –
“(6) In
sub-paragraph (5) the reference to supplies of goods or services in Jersey
includes supplies of goods that are treated as supplied in Jersey under Article 23(3)(a)
by virtue of meeting Condition A or Condition C, but does not include
supplies of goods that are treated as supplied in Jersey under Article 23(3)(a)
only by virtue of meeting Condition B.”;
(b) in paragraph 12 –
(i) in sub-paragraph (1)
for “sub-paragraphs (2), (3) and (4)” there is substituted “sub-paragraphs (3)
and (4)”,
(ii) sub-paragraph (2)
is deleted,
(iii) in sub-paragraph (3)
for “second” there is substituted “first”,
(iv) in sub-paragraph (4)
for “third” there is substituted “second”;
(c) in paragraph 13
sub-paragraph (1A) is deleted;
(d) in paragraph 16(2),
clause (a) is deleted.
Part 5
Revenue Administration (Jersey) Law 2019
amended
45 Amendment of the Revenue Administration
(Jersey) Law 2019
This Part amends the Revenue
Administration (Jersey) Law 2019.
46 Article 8 (general
prohibition and exceptions) amended
In Article 8 –
(a) for paragraph (1)
there is substituted –
“(1) Information
obtained under or for the purposes of a Revenue Law must not be disclosed or
otherwise used by any person other than for the purpose for which it was
obtained unless any of the following allows it –
(a) a
provision in this Article;
(b) an
Order made under Article 8A;
(c) another
enactment which expressly permits the disclosure or use of the information.”;
(b) paragraphs (4) to (6)
are deleted;
(c) in paragraph (7) for
“ascertaining or verifying the address of a person” there is substituted
“enabling or assisting the Agent of Impôts to
exercise functions under that Law”.
47 Article 8A (power to prescribe
further cases or circumstances in which information may be disclosed) inserted
After Article 8
there is inserted –
“8A Power to prescribe further cases or
circumstances in which information may be disclosed
(1) The
Minister may, by Order, prescribe cases or circumstances in which information
obtained under or for the purposes of a Revenue Law may be disclosed to a
public authority.
(2) Before
making an Order under paragraph (1) the Minister must consult the Comptroller.
(3) An
Order made under paragraph (1) –
(a) must specify the authority
to which the information may be disclosed and the purpose for which the
information may be disclosed;
(b) must allow the disclosure
of information only to the extent that it is necessary to enable or assist that
authority to exercise its functions;
(c) must not require a public
authority to disclose information; and
(d) may allow disclosure to a
Minister only for the purpose of enabling or assisting the Minister to exercise
that Minister’s functions under an enactment.”.
Part 6
Stamp Duties and Fees (Jersey) Law 1998
amended
48 Amendment of the Stamp Duties and Fees
(Jersey) Law 1998
This Part amends the Stamp Duties and
Fees (Jersey) Law 1998.
49 Article 1
(interpretation) amended
In Article 1 after
the definition “net value” there is inserted –
“ “relevant off-plan contract”
means a sale and purchase contract where –
(a) the land to which the contract
relates is land on which a dwelling is, or is to be, constructed;
(b) the contract is not
transferable by the purchaser to another person;
(c) the contract contains a
penalty of at least 10% of the consideration that applies if the purchaser
does not complete the purchase;
(d) the consideration agreed
in the contract is at or above the notional market value, at the time the
contract was signed, of the dwelling; and
(e) the contract was signed
on or after 1st January 2017;”.
50 Article 2 (stamp
duty) amended
In Article 2(1) for
“Articles 6, 6A and 7” there is substituted
“Articles 6 and 7”.
51 Article 6A (remission of stamp duty
on Jersey Homebuy contracts) deleted
Article 6A is deleted.
52 Schedule 1 (judicial
fees) amended
(1) This
Article amends Schedule 1.
(2) In
paragraph 2 (bands relating to value in item 13) for the last 3 entries
in the table there is substituted –
|
“(viii) exceeds £2,000,000 but does not exceed £3,000,000
|
£74,500 in respect of the first
£2,000,000 plus £7.50 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
(ix) exceeds £3,000,000 but does not exceed
£6,000,000
|
£149,500 in respect of the first
£3,000,000 plus £10 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
(x) exceeds £6,000,000
|
£449,500 in respect of the first
£6,000,000 plus £11 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier”.
|
(3) In
paragraph 2A (further bands relating to value in
item 13) for entries (viii) to (x) there is substituted –
|
“(viii)
|
exceeds £2,000,000 but does not
exceed £3,000,000
|
£134,500 in respect of the first
£2,000,000 plus £10.50 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
(ix)
|
exceeds £3,000,000 but does not
exceed £6,000,000
|
£239,500 in respect of the first
£3,000,000 plus £13 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
(x)
|
exceeds £6,000,000
|
£629,500 in respect of the first
£6,000,000 plus £14 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier”.
|
(4) In
item 13 of the table in paragraph 3 –
(a) in paragraph (a) for
“paragraphs (b), (j), (k) or (t) of this item” there is substituted
“paragraphs (aa), (b), (ba), (j), (k) or (t) of
this item”;
(b) for paragraph (b)
there is substituted –
|
“(aa)
|
Of sale of immovable property (except
as provided by paragraph (ba) or (t) of this item)
if the contract is a relevant off-plan contract, the amount of the consideration –
|
|
|
|
|
IN RELATION TO PROPERTY THAT IS NOT
RELEVANT PROPERTY SEE TABLE IN PARAGRAPH 2
IN RELATION TO PROPERTY THAT IS
RELEVANT PROPERTY SEE TABLE IN PARAGRAPH 2A
|
|
|
Provided that in the case of a
contract of exchange of immovable property the fees specified in the table in
this paragraph are to be separately calculated in respect of the gross value
of each property transferred.
|
|
(b)
|
Of sale of land on which a dwelling
is, or is to be, constructed for occupation by the purchaser where (subject as
is hereinafter provided) the gross value of the property or, if the dwelling
has not been constructed, the notional gross value of the property once the
dwelling has been constructed, calculated on the basis of market values
obtaining at the time of the sale –
|
|
|
|
|
|
(i) does
not exceed £350,000
|
NIL
|
Contract
|
Greffier
|
|
|
(ii) exceeds £350,000
but does not exceed £600,000
|
NIL in respect of the first £350,000
plus £1 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(iii) exceeds £600,000
but does not exceed £700,000
|
the amount of stamp duty that would
have been payable if paragraph (a) had applied reduced by the following
formula:
8,500 – ((V- 600,000) x 8.5%)
where V is the gross value of the
property or, if the dwelling has not been constructed, the notional gross
value of the property once the dwelling has been constructed, calculated on
the basis of market values obtaining at the time of the sale
|
Contract
|
Greffier
|
|
|
Provided that the fees specified in
this paragraph are only to be substituted for those payable under paragraph (a)
of this item if the transaction fulfils all the following conditions –
|
|
|
(A) the purchaser requests
that the stamp duty be assessed in accordance with this sub-paragraph;
|
|
|
(B) the purchaser is a
person who has Entitled status in accordance with the Control of
Housing and Work (Residential and Employment Status) (Jersey) Regulations 2013,
other than by virtue of Regulation 2(1)(e) of those Regulations, or is
the spouse or a civil partner of such a person and is joint transferee with
that person;
|
|
|
(C) the purchaser
satisfies the designated officer that the purchaser has never owned a
reversionary interest in any dwelling accommodation wherever situated nor have
they ever previously been entitled to occupy such dwelling accommodation (or
would have been so entitled if clause (B) applied) by virtue of having
owned the accommodation, and for the purposes of this clause “owned” includes –
|
|
|
(a) having held such accommodation on
contract lease;
|
|
|
(b) having owned such accommodation together
with any other person;
|
|
|
(c) having owned shares that confer
entitlement to occupy such accommodation; and
|
|
|
(d) any arrangement whereby such
accommodation was held in the name of a nominee or trustee, or of a company
owned by such nominee or trustee, for the benefit of the purchaser;
|
|
|
(D) the consideration for
the sale is not less, or not substantially less, than the gross value of the
property as sold; and
|
|
|
(E) paragraph (ba) does not apply.
|
|
(ba)
|
Of sale of land on which a dwelling
is, or is to be, constructed for occupation by the purchaser if the
consideration –
|
|
|
|
|
|
(i) does
not exceed £350,000
|
NIL
|
Contract
|
Greffier
|
|
|
(ii) exceeds £350,000
but does not exceed £600,000
|
NIL in respect of the first £350,000
plus £1 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(iii) exceeds £600,000
but does not exceed £700,000
|
the amount of stamp duty that would
have been payable if paragraph (a) had applied reduced by the following
formula:
8,500 – ((V- 600,000) x 8.5%)
where V is the consideration
|
Contract
|
Greffier
|
|
|
Provided that the fees specified in
this paragraph are only to be substituted for those payable under paragraph (aa)
of this item if the transaction fulfils all the following conditions –
|
|
|
(A) conditions (A) to
(C) of paragraph (b) are met; and
|
|
|
(B) the contract is a
relevant off-plan contract.”;
|
(c) in paragraph (m) for
clauses (ii) and (iii) there is substituted –
|
|
“(ii) exceeds £350,000 but
does not exceed £600,000
|
NIL in respect of the first £350,000
plus £1 for each £100 or part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(iii) exceeds £600,000
but does not exceed £700,000
|
the amount of stamp duty that would
have been payable if paragraph (a) had applied reduced by the following
formula:
8,500 – ((V- 600,000) x 8.5%)
where V is the gross value of the
property or, if the dwelling has not been constructed, the notional gross
value of the property once the dwelling has been constructed, calculated on
the basis of market values obtaining at the time of the sale
|
Contract
|
Greffier”.
|
Part 7
Taxation (Land Transactions) (Jersey) Law 2009
amended
53 Schedule (value of
transaction and rate of LTT applicable) of the Taxation (Land
Transactions) (Jersey) Law 2009 amended
(1) This
Article amends the Schedule of the Taxation (Land
Transactions) (Jersey) Law 2009.
(2) In
paragraph 2 –
(a) in sub-paragraph (1)
for entries (viii) to (x) in Table B there is substituted –
|
“(viii) exceeds
£2,000,000 but does not exceed £3,000,000
|
£74,500 in respect of the first £2,000,000
plus £7.50 for each £100 or part of £100 in excess thereof
|
|
(ix) exceeds
£3,000,000 but does not exceed £6,000,000
|
£149,500 in respect of the first
£3,000,000 plus £10 for each £100 or part of £100 in excess thereof
|
|
(x) exceeds
£6,000,000
|
£449,500 in respect of the first
£6,000,000 plus £11 for each £100 or part of £100 in excess thereof”;
|
(b) for sub-paragraph (2)
there is substituted –
“(2) For
the purposes of sub-paragraph (1), where consideration passes in respect
of a transaction described in Article 3(1)(a) or (b), the value of the
transaction is –
(2A) This sub-paragraph applies where –
(a) the land to which the
transaction relates is land on which a dwelling is, or is to be, constructed;
(b) the sale and purchase
contract for the transaction is not transferable by the purchaser to another
person;
(c) the sale and purchase
contract contains a penalty of at least 10% of the consideration that
applies if the purchaser does not complete the purchase;
(d) the consideration agreed
in the sale and purchase contract is at or above the notional market value, at
the time the contract was signed, of the dwelling; and
(e) the sale and purchase contract
was signed on or after 1st January 2017;”.
(3) In
paragraph 4(3) –
(a) in clause (b) for “£450,000”
there is substituted “£600,000”;
(b) for clause (c) there
is substituted –
“(c) where the value of the
transaction exceeds £600,000 but does not exceed £700,000, the amount
of LTT that would have been payable if paragraph (2)
had applied reduced by the following formula:
8,500 – ((V – 600,000) × 8.5%)
where V is the value of the transaction.”.
(4) In
paragraph 5(3) for the last 3 entries in the table there is
substituted –
|
“exceeds £2,000,000 but does not
exceed £3,000,000
|
£134,500 in respect of the first
£2,000,000 plus £10.50 for each £100 or part of £100 in excess thereof
|
|
exceeds £3,000,000 but does not
exceed £6,000,000
|
£239,500 in respect of the first
£3,000,000 plus £13 for each £100 or part of £100 in excess thereof
|
|
exceeds £6,000,000
|
£629,500 in respect of the first
£6,000,000 plus £14 for each £100 or part of £100 in excess thereof”.
|
Part 8
Taxation (Enveloped Property Transactions) (Jersey)
Law 2022 amended
54 Amendment of the Taxation (Enveloped Property
Transactions) (Jersey) Law 2022
This Part amends the Taxation
(Enveloped Property Transactions) (Jersey) Law 2022.
55 Schedule 1 (excluded
transactions) amended
In paragraph 8(a) of
Schedule 1 for “; or” there is substituted “; and”.
56 Schedule 2
(calculation of variable element of tax) amended
In Schedule 2 for the
last 3 entries in Table B there is substituted –
|
“Exceeding £2,000,000 but not
exceeding £3,000,000
|
£74,500 in respect of the first
£2,000,000 plus £7.50 for each £100 or part of £100 in excess of that
|
£134,500 in respect of the first
£2,000,000 plus £10.50 for each £100 or part of £100 in excess of that
|
|
Exceeding £3,000,000 but not
exceeding £6,000,000
|
£149,500 in respect of the first
£3,000,000 plus £10 for each £100 or part of £100 in excess of that
|
£239,500 in respect of the first
£3,000,000 plus £13 for each £100 or part of £100 in excess of that
|
|
Exceeding £6,000,000
|
£449,500 in respect of the first
£6,000,000 plus £11 for each £100 or part of £100 in excess of that
|
£629,500 in respect of the first
£6,000,000 plus £14 for each £100 or part of £100 in excess of that”.
|
Part 9
Consequential
amendments
57 Social Security (Collection
of Class 1 and Class 2 Contributions) (Jersey) Order 2013 amended
In Article 11(7) of
the Social
Security (Collection of Class 1 and Class 2 Contributions) (Jersey)
Order 2013 for “2 days” there is substituted “7 days”.
Part 10
Citation
and commencement
58 Citation and commencement
This Law may be cited as
the Finance (2024 Budget) (Jersey) Law 2024 and comes into force on 1st January
2024.