Finance (2019
Budget) (Jersey) Law 2019
A LAW to amend further the Income Tax
(Jersey) Law 1961, the Goods and Services Tax (Jersey) Law 2007, the
Customs and Excise (Jersey) Law 1999, and the Stamp Duties and Fees
(Jersey) Law 1998
Adopted by the
States 6th December 2018
Sanctioned by
Order of Her Majesty in Council 10th April 2019
Registered by the
Royal Court 26th
April 2019
THE STATES, subject to the sanction of Her Most Excellent Majesty in Council, have
adopted the following Law –
part 1
standard rate of income tax set for 2019 and
income Tax (Jersey) law 1961 amended including regulations under
that law
1 Interpretation
of Part 1
In this Part a reference to an Article or Schedule by number and
without more is to the Article or Schedule of that number in the Income Tax
(Jersey) Law 1961[1].
2 Standard
rate of income tax for 2019
There shall be levied and charged in Jersey for the year 2019,
in accordance with and subject to the provisions of the Income Tax (Jersey) Law 1961[2], income tax at the standard
rate of 20 pence in the pound.
Allowances and reliefs –
threshold exemption
3 Article 92A
(threshold for exemption from income tax – personal allowance
increases) amended
In Article 92A –
(a) in paragraphs (2)(ii)
and (2A)(ii) for “£23,950” there is substituted
“£24,800”;
(b) in paragraphs (4)(i)
and (4A)(i) for “£5,850” there is substituted
“£6,000”;
(c) in paragraph (6)(b)
for “£14,900” there is substituted “£15,400”.
Allowances and reliefs – higher
child allowance
4 Article 92A (threshold exemption for income tax –
child allowance) amended
In Article 92A –
(a) for
paragraph (8) there is substituted –
“(8) The threshold applicable in
an individual’s case shall be increased by the amount of any such
increase to which the individual is entitled under Article 95.”;
(b) paragraphs (8A),
(8B) and (8C) are deleted.
5 Article 95
(children) substituted
For Article 95 there is substituted –
(1) If an individual proves that the individual
has living at any time within the year of assessment any child who –
(a) is under the age of 16 years, or
(b) if 16 years of age or over at the
commencement of that year, was receiving full-time instruction at any school,
the individual is, subject to
the provisions of this Article, entitled in respect of each child to an
increase in his or her exemption threshold of £3,000.
(2) For the purposes of paragraph (1),
“child” includes a step-child and a child whose parents have
married each other after the child’s birth.
(3) If an individual proves –
(a) that for the year of assessment the
individual has the custody of and maintains at the individual’s own
expense any child who –
(i) is
under the age of 16 years at the commencement of that year, or
(ii) if
over the age of 16 years at the commencement of that year, is receiving
full-time instruction at any school; and
(i) neither
the individual nor any other individual is entitled to an exemption threshold
increase in respect of the same child under paragraph (1) or under any of
the other provisions of this Part, or
(ii) if
any other individual is entitled to such an increase, that that other
individual has relinquished the individual’s claim thereto,
the individual shall be
entitled in respect of the child to the same exemption threshold increase as if
the child were a child of the individual’s.
(4) In the case of a child who is entitled in
the child’s own right to an income exceeding £3,000 a year the
exemption threshold increase under paragraph (1) is reduced by the amount
of the excess.
(5) For the purpose of paragraph (4) there is
disregarded any income to which a child is entitled in the child’s own
right in a year of assessment being income that is earned income of the child.
(6) Where, for any year of assessment, 2 or more
individuals are entitled to an exemption threshold increase under this Article
in respect of the same child, the increase shall be apportioned between them in
such proportion as they agree, or, in default of agreement, in proportion to
the amount or value of the provision made by them respectively (otherwise than
by way of payments deductible in computing their respective total incomes) for
the child’s maintenance and education for the year of assessment.
(7) An apportionment may be made under paragraph (6)
even though an exemption threshold increase in respect of the child in question
has already been allowed to any individual.
(8) In this Article “receiving full-time
instruction at any school” does not include receiving “higher
education” within the meaning of the Education (Jersey) Law 1999[3]. ”.
6 Article 98A
(additional allowance in respect of children) amended
In Article 98A for paragraphs (1) and (1A) there is substituted –
“(1) If, in the case of a year of
assessment the individual is resident with a child as defined by paragraph (1AA),
the individual is entitled to an increase in his or her exemption threshold as
described in paragraph (1A) if either –
(i) does
not have a spouse or civil partner, or
(ii) has
a spouse or civil partner who is not living with him or her and whom the
individual does not wholly maintain during the year of assessment; or
(b) the individual is a person who –
(i) has a spouse or civil partner living
with him or her, or
(ii) has
a spouse or civil partner who is not living with him or her and whom the
individual wholly maintains during the year of assessment,
and, in either case, the
spouse or civil partner was, throughout the year of assessment, totally
incapacitated by physical or mental infirmity.
(1AA) For the purposes of paragraph (1),
“child” means a person who –
(a) is under the age of 25 years on
31st August in the year of assessment;
(b) if 16 years of age or over at the
commencement of the year of assessment, was receiving, during that year of
assessment, full time instruction at any school or full time “higher
education” within the meaning of the Education (Jersey) Law 1999[4];
(c) on 31st August in the year of assessment is
not 21 years of age or over and married or in a civil partnership; and
(d) on 31st August in the year of assessment has
not been living financially independently of his or her parents for the 3 year
period immediately preceding that date.
(1A) Subject to paragraphs (2) to (5), the individual is
entitled to an increase in his or her exemption threshold of £4,500
(which may be additional to any exemption to which the individual is entitled
under Article 95).”.
Exemptions
7 Article 87A (payments made under covenant) amended
In Article 87(A)(3) “, (ab)” is deleted.
8 Article 115
(miscellaneous exemptions) amended
For Article 115(aa) and (ab) there is substituted the following
paragraph –
“(aa) any income derived from the property of
an excepted foreign charity within the meaning of Article 22 of the
Charities (Jersey) Law 2014[5];”.
9 Article 118D
(exemption in respect of international saving schemes) inserted
After Article 118C there is inserted –
“118D Exemption
in respect of international savings schemes
(1) In this Article “international savings
scheme” means a scheme or arrangement, or part of a scheme or
arrangement, which –
(a) has for its sole purpose the provision of
benefits in respect of persons’ employment wholly outside Jersey in a
trade or undertaking;
(b) is established under irrevocable trusts
under Jersey law in connection with a trade or undertaking carried on –
(i) wholly
or partly outside Jersey, and
(ii) by
a person not resident in Jersey;
(c) has 2 or more trustees or a corporate
trustee, subject to regulation by the Jersey Financial Services Commission
under an enactment in respect of the carrying on of the business of trustee of
the trust under which the scheme is established; and
(d) is not a scheme or arrangement approved
under Part 19.
(2) In paragraph (1), for the purpose of
determining whether employment is wholly outside Jersey, duties performed in
Jersey, the performance of which is merely incidental to the performance of
other duties outside Jersey, is treated as performance outside Jersey.
(3) Benefits paid from an international savings
scheme to a person who is not resident in Jersey are exempt from income tax.
(4) Income derived from the investments and
deposits of an international savings scheme is exempt from income tax.
(5) If only part of the scheme or arrangement
has the purpose described in paragraph (1)(a), only that part must comply
with the requirements of this Article.”.
Allowances and reliefs –
non-residents
10 Article 106
(non-residents) repealed
Article 106 is repealed.
11 Article 118B
(exemption of certain income, profits or gains of a non-resident) amended
After Article 118B(1)(g) there is inserted –
“(h) interest paid by or on behalf
of any body of persons established under an enactment.”.
12 Articles 129B
(relief for non-residents) inserted
After Article 129A there is inserted –
“129B Relief
for non-residents
(a) “Jersey income” means income
which is chargeable to tax on a non-resident under Schedule A or Schedule D
and which arises from an activity taking place in Jersey, or which is derived
from a scheme or arrangement which is subject to approval by the Comptroller
under this Law;
(b) “non-Jersey income” in relation
to a non-resident means income (however derived and regardless of the
jurisdiction in which it is derived) which is not Jersey income, including –
(i) income
which is exempt from income tax under this Law, and
(ii) income
of a spouse or civil partner which would be treated under this Law as the
non-resident’s income if the non-resident were resident in Jersey;
(c) “qualifying Schedule D
income” means income, profits or gains arising or accruing that are charged
to tax under Case I or Case II(a) or (b) of Schedule D excluding
income, profits or gains which are exempt from income tax under this Law;
(d) “relevant threshold exemption”
means the amount specified in whichever of the circumstances described in Article 92A(2),
(2A), (4), (4A) or (6) applies to the non-resident with the modification that Article 92A(2)(i),
(2A)(i) and (6)(a) are disregarded.
(2) A non-resident is entitled to allowances and
reliefs under Part 12, subject to the provisions of this Part, for a year
of assessment only if the non-resident has qualifying Schedule D income
for that year of assessment.
(3) A non-resident who does not have qualifying
Schedule D income for a year of assessment is charged to income tax on
Jersey income at 0% for that year of assessment if the aggregate of the amount
of the non-resident’s Jersey income and non-Jersey income for that year
of assessment is less than the amount of the relevant threshold exemption.
(4) A non-resident who does not have qualifying
Schedule D income for a year of assessment and who is not charged to
income tax on Jersey income at 0% under paragraph (3) is entitled to the
relief described in paragraph (7) or (8).
(5) Paragraph (7) applies if, under the law
of the country or territory outside Jersey in which the non-resident resides or
is otherwise chargeable to tax, the non-resident –
(a) is not subject to tax on any of his or her
Jersey income; or
(b) is subject to tax on some or all of his
Jersey income and is not entitled to any tax relief on any of his or her Jersey
income.
(6) Paragraph (8) applies if, under the law
of the country or territory outside Jersey in which the non-resident resides or
is otherwise chargeable to tax, the non-resident –
(a) is subject to tax on some or all of his or
her Jersey income; and
(b) is entitled to tax relief on any of his or
her Jersey income.
(7) The relief is that the Jersey income is
taxed at a rate (“F%”) calculated as follows –
(a) calculate “A”: the aggregate
amount of the non-resident’s Jersey income and non-Jersey income;
(b) calculate “B”: the amount of A
less the relevant threshold exemption;
(c) calculate “C”: either –
(i) the
relevant threshold exemption less B or,
(ii) zero,
whichever is higher;
(d) calculate “D”: A less C;
(e) calculate “E”: the standard rate
of income tax x D;
(f) calculate “F%: E/A.
(8) The relief is that the Jersey income is
taxed at a rate (“H%”) calculated as follows –
(a) calculate F% under paragraph (7);
(b) calculate as a percentage the amount that the
non-resident is charged to tax in a country or territory outside Jersey (excluding
any tax relief to which he or she is entitled in that country or territory) divided
by the aggregate of the amount of the non-resident’s non-Jersey income
and Jersey income notified to that country or territory for the purposes of
assessment of liability to tax (“G%”);
(c) calculate “H%”: the higher of F%
or G%.”.
Pensions
13 Article 131
(approval of Jersey occupational pension schemes)
For Article 131(11) there is substituted –
“(11) The scheme may permit a member to receive
a return of contributions in accordance with paragraph (12).”.
14 Article 131CF
(permitted commutation – 30 percent of net fund value) amended
In Article 131CF –
(a) in paragraph (2)
for “In this Article,” there is substituted “Subject to paragraph (4A),
in this Article”;
(b) in paragraph (3),
for “paragraph (2)(a)” there is substituted
“paragraphs (2)(a) and (4A)”;
(c) in paragraph (4),
for “paragraph (2)(b)” there is substituted “paragraphs (2)(a)
and (4A)”;
(d) after
paragraph (4) there is inserted –
“(4A) If a relevant amount previously transferred
into the scheme (“Scheme A”) is from an approved Jersey scheme
(“Scheme B”), there is added to the net fund value of
Scheme A calculated under paragraph (2), the net fund value of
Scheme B calculated as follows –
E + F
where –
E is A – ((C x 7)/3);
A is the relevant amount previously
transferred into Scheme A from Scheme B;
C is each relevant amount previously
commuted from Scheme B (if any);
F is so much of the increase
or decrease in the fund value of Scheme A as is attributable to E since
the day on which the relevant amount was previously transferred into
Scheme A from Scheme B.”.
15 Article 131L
(taxation of lump sum paid from approved Jersey scheme to pension holder or
dependent) amended
In Article 131L –
(a) in paragraph (3)(b)
before “30% of lump sums” there is inserted “subject to paragraph (3A),”;
(b) after
paragraph (3) there is inserted –
“(3A) Where a pension holder who has commuted a lump
sum as permitted by Article 131CE(1) from an approved Jersey scheme has
previously commuted a lump sum as permitted by Article 131CF from the same
scheme, paragraph (3B) applies instead of paragraph (3)(b).
(3B) There is exempt from income tax 30% of the net value of
the fund immediately prior to the commutation permitted by Article 131CE(1).
(3C) For the purposes of paragraph (3B) the net value of
the fund is the fund value immediately before the commutation permitted by Article 131CE(1)
less, for each relevant amount previously commuted from the scheme, the sum of
A and B where –
(a) A is the relevant amount previously
commuted, multiplied by 7 and then divided by 3; and
(b) B is so much of the increase or decrease in
the fund value since the day the election was made to commute the amount as is
attributable to A.
(3D) In paragraph (3C) “relevant amount previously
commuted” has the same meaning as in Article 131CF(3).”.
Large corporate retailers
16 Article 123O
(application of Article 88 (dividends)) amended
In Article 123O –
(a) paragraph (1)
is deleted;
(b) in paragraph (2) –
(i) for
“Where this Article applies,” there is substituted “In the
case of a large corporate retailer,”,
(ii) after
sub-paragraph (a) there is inserted –
“(aa) the reference in Article 88(4) to
profits or gains charged to tax on any body of persons at the rate of 0%
includes profits or gains charged to tax on a large corporate retailer at 0%,
and the reference to Article 123C is treated as omitted;”.
17 Article 123OA (application of Article 89 (explanation of
income tax deductions)) inserted
After Article 123O there is inserted –
“123OA Application
of Article 89 (explanation of income tax deductions to be annexed to
dividend warrants, other distributions, etc.)
In the case of a large
corporate retailer, Article 89 applies with the following modifications –
(a) in paragraph (1) the reference to
profits or gains charged on the body of persons at, respectively, the standard
rate, the rate of 10% and the rate of 0% is deemed to refer to the rate charged
under Article 123L;
(b) in paragraph (1)(c), the reference to Article 88(2)
is deemed to refer to Article 88(2) as modified by Article 123O(2)(a).”.
18 Article 123Q (Application of Part 14A – Articles 114A
to 114C (foreign company income relief)) substituted
For Article 123Q there is substituted –
“123Q Application
of Part 14A (foreign company income relief)
(1) In Article 114A, the definition
“qualifying company” shall be deemed to include a large corporate
retailer and the remaining provisions of Part 14A shall be construed
accordingly.
(2) In respect of a qualifying company deemed to
be a large corporate retailer under paragraph (1), in calculating the
amount of its income, profits and gains for the purposes of Article 123L(1),
in addition to any deductions and credits referred to paragraph (1)(a) and (b)
of that Article, no account shall be taken of any credit under Article 114B
or 114C.”.
19 Schedule 5
(savings, transitional and similar provisions: general) amended
In paragraph 21 (relief from taxation for large corporate
retailers and certain financial services companies) after sub-paragraph (3)
there is inserted –
“(3A) Where a 0% company does not have an accounting
date of 31st December 2018 for the year of assessment 2018, if a 0%
company notifies the Comptroller on or before 31st December 2019 that it
wishes to be treated as if it had an accounting date of 31st December 2018
even though it does not, the condition in paragraph (3) is deemed to be
met.
(3B) Where paragraph (3A) applies, for year of
assessment 2018 and each subsequent year of assessment, the 0% company is treated
for all purposes of this Law as if it had an accounting date of 31st December, even
though it does not.
(3C) A 0% company must notify the Comptroller if it no longer
wishes paragraph (3B) to apply to it, before 31st December in the year immediately
after the year of assessment in which it wishes paragraph (3B) to cease to
apply.
(3D) If a 0% company makes a notification under paragraph (3C),
it must also notify the Comptroller of its accounting date for the year of
assessment immediately following the last year of assessment in which paragraph (3B)
applied.
(3E) If the Comptroller receives a notification under paragraphs (3C)
and (3D) –
(a) paragraph (3B) ceases to apply in
accordance with the 0% company’s notification; and
(b) the Comptroller must charge the 0% company
on the full amount of its profits or gains for the period of 12 months
ending on the accounting date notified to the Comptroller under paragraph (3D).
(3F) For the avoidance of doubt, where a notification is
given to the Comptroller under paragraphs (3C) and (3D), 31st December is
not treated as an accounting date for the purposes of Article 64B and no
change of financial period is deemed to have taken place by reason of that
notification.”.
High value residents
20 Article 135A
(persons granted 1(1)(k) housing consent or Regulation 2(1)(e) status) amended
In Article 135A(3A)(b) for “a high value resident’s
income chargeable to tax under Schedule D” there is substituted
“the aggregate of a high value resident’s income chargeable to tax
under Schedule A and Schedule D”.
21 Income
Tax (Prescribed Limit and Rate) (Jersey) Regulations 2013 amended
In Regulation 2 of the Income Tax (Prescribed Limit and Rate)
(Jersey) Regulations 2013[6] after paragraph (3)
there is inserted –
“(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 £725,000.”.
Regulation making power for other legal
entities
22 Articles 143 (power to make Regulations relating to other legal
entities) and 143A (general provisions as to Regulations) inserted
After Article 142 there is inserted –
“143 Power
to make Regulations relating to other legal entities
(a) “body” means a body of persons
whether corporate or unincorporated;
(b) “relevant time” means, in
respect of a body, the date that Regulations under paragraph (2) applying
to that body come into force.
(2) The States may, by Regulations, amend this
Law to make provision for any matter relating to the assessment and collection
of income tax of a body formed under an enactment if, immediately before the
relevant time, there is no provision in this Law which refers to that
enactment.
(3) For the purposes of paragraph (2), a
body is formed under an enactment if the enactment makes provision for any of
the following matters –
(a) its registration or equivalent;
(b) whether or not it is a body corporate;
(c) the circumstances in which it may cease to be
a body under that enactment.
Regulations made under this
Law may contain such incidental, supplementary, transitional, transitory,
consequential or savings provisions as appear to the States to be necessary or
expedient.”.
Administrative matters
23 Article 16 (delivery of statements in pursuance of notices)
amended
In Article 16 –
(a) in
the heading for “statements” there is substituted
“returns”;
(b) in paragraph (1)
for “statement containing such of the following particulars as may be
required by the notice, namely” there is substituted “return
containing such information as the Comptroller requires, including, but not
limited to, any or all of the following”;
(c) in paragraphs (2),
(3) and (4) for “statement” in each place it appears there is
substituted “return”.
24 Article 16A
(furnishing of documents and information in pursuance of notices) amended
In Article 16A(1) for “statement” there is
substituted “return”.
25 Article 16B
(keeping of records) amended
In Article 16B(1) for “statement” in each place it
appears there is substituted “return”.
26 Article 17
(delivery of statements by persons acting for others) amended
In Article 17 –
(a) in
the heading for “statements” there is substituted
“returns”;
(b) in paragraphs (1)
and (2) for “statement” in each place it appears there is
substituted “return”.
27 Article 17A
(penalty for late delivery of statement or return) amended
In Article 17A –
(a) in
the heading “statement or” is deleted;
(b) for
paragraphs (1) to (5) there is substituted –
“(1) Where a person required to
deliver to the Comptroller a true, complete and correct return does not do so
by the specified time, the person is liable to pay to the Comptroller a penalty
of –
(a) £100 in the case of a return under Article 20
or 20A; or
(b) £300 in any other case.
(2) In this Article “specified time”
means –
(a) in relation to a requirement to deliver a
return in respect of a year of assessment that is served by a notice in the
following year –
(i) in
the case of a return in respect of a company’s own charge to tax,
midnight on 31st December in the year following the year of assessment,
(ii) in
the case of a return delivered electronically other than a return referred to
in clause (i), midnight on 31st July in the year following the year
of assessment,
(iii) in
the case of any other return not referred to in clause (i) or (ii),
midnight on 31st May in the year following the year of assessment; or
(b) in relation to a requirement to deliver a
return under Article 20 or 20A, midnight on the 15th day after the
end of the month in respect of which the return is required to be made.
(2A) Where a person required to deliver to the Comptroller a
true, complete and correct return does not do so by midnight on the date that
is 3 months after the specified time, the person is liable to pay to the
Comptroller a penalty of an amount specified in paragraph (2B) for each
month that the return remains undelivered up to a maximum of 9 months.
(2B) Those amounts are –
(a) in the case of a return under Article 16
by a person other than a body corporate, £50 per month;
(b) in the case of a return under Article 20,
20A or 20B or by a body corporate under Article 16, £100 per month.
(3) In respect of a return under Article 16,
paragraphs (1) and (2A) shall not apply to a person, not being a body corporate,
who is not liable to pay any tax for the period to which the return relates.
(4) Where a return under Article 16 is
delivered after the specified time and the Comptroller is satisfied that, for
the year of assessment to which the return relates, a person other than a body
corporate is liable to pay tax of less than £300 –
(a) the person’s liability under paragraph (1)
must be abated to an amount equal to the tax that the person is liable to pay for
that year of assessment; and
(b) the Comptroller must repay to the person any
amount paid by the person in discharge of the person’s liability under paragraph (1)
which exceeds the abated amount.
(4A) Where a person, other than a body corporate, is liable
to pay a penalty under paragraph (2A) in respect of a return under Article 16
and the Comptroller is satisfied that the person is liable to pay tax for the
year of assessment to which the return relates of less than £50 –
(a) the person’s liability under paragraph (2A)
is abated to an amount equal to the tax he or she is liable to pay; and
(b) the Comptroller must repay to the person any
amount paid by the person in discharge of the person’s liability under paragraph (2A)
which exceeds the abated amount.
(5) The Comptroller must issue a written notice
to a person of his or her liability under paragraph (1) or (2A).”;
(c) in paragraph (7)(a)
and (b) “statement or” is deleted;
(d) for
paragraph (12A) there is substituted –
“(12A) In this
Article, “return” means a return required under Article 16, 20, 20A,
or 20B.”.
28 Article 20
(returns of information regarding employees) amended
In Article 20 –
(a) in paragraph (1)
after “as required by the notice,” there is inserted “such
information as the Comptroller may require, including, but not limited
to”;
(b) in paragraph (2) –
(i) in
sub-paragraph (a) “and place or places of residence” is deleted,
(ii) sub-paragraphs (b),
(ba) and (f) are deleted.
29 Article 20A
(returns of information regarding building sub-contractors) amended
In Article 20A –
(a) in paragraph (1)
after “as required by the notice,” there is inserted “such
information as the Comptroller may require, including but not limited
to”;
(b) in paragraph (2) –
(i) in
sub-paragraph(a) “and place or places of residence” is deleted,
(ii) sub-paragraphs (b)
and (ba) are deleted.
30 Article 20B
(returns of information by companies) amended
In Article 20B(1) after “as required by the
notice,” there is inserted “such information as the Comptroller may
require, including but not limited to”.
31 Article 21
(form and manner of returns) amended
In Article 21(1) for “statement” in sub-paragraphs (a)
and (b) there is substituted “return”.
32 Article 23
(provision for making assessments where no returns are received) amended
For the text in Article 23 there is substituted –
“If the Comptroller
does not receive from a person a return that the person is required to provide
under this Law, the Comptroller may, to the best of the Comptroller’s
information and judgement, make an assessment on that person of the amount at
which the person ought to be charged under this Law and, if such an assessment
is made, include it in the appropriate list.”.
33 Article 24
(additional assessments) amended
In Article 24 –
(a) in paragraph (1)(b)
for “statement” in each place it appears there is substituted
“return”;
(b) in paragraph (1A)
for “statement” in each place it appears there is substituted “return”;
(c) for
paragraph (2) there is substituted –
“(2) Subject to paragraph (3),
an assessment may be amended or an additional assessment may be made at any
time not later than 5 years after the end of the year of assessment in respect
of which the return was made.
(3) Where any form of fraud or wilful default
has been committed by or on behalf of the person chargeable to income tax for
the year of assessment, amended assessments and additional assessments on that
person for that year may be made at any time.”.
34 Article 38
(relief in respect of error or mistake) amended
For Article 38(2) there is substituted –
“(2) A claim under this Article
shall not be allowed unless it is made not later than 5 years after the
end of the year of assessment in respect of which the return was made.”.
35 Article 39
(tax when due) substituted
For Article 39 there is substituted –
Subject to Article 41A
and 41AA, income tax contained in an assessment for any year shall be deemed to
be due and payable –
(a) on or before 30th November in the year
following the year of assessment except where paragraph (b) applies;
(b) in the case of a large company within the
meaning of Article 41AA(7), on or before 30th September in the year following
the year of assessment.”.
36 Article 41A
(duty to pay instalment in April) amended
In Article 41A –
(a) for
the heading there is substituted –
“41A Duty
to pay instalment in May (individuals and unincorporated bodies)”;
(b) in paragraph (2)(a)
for “6 p.m. on the last Friday in April” there is substituted
“midnight on 31st May”.
37 Article 41AA
(duty to pay instalment companies) inserted
After Article 41A there is inserted –
“Article 41AA Duty to pay instalment (companies)
(1) This Article applies to a company regarded
as resident in Jersey or which has a permanent establishment in Jersey.
(2) A company shall, in accordance with this
Article, pay an instalment of income tax for a year of assessment.
(3) The instalment –
(a) shall be due and payable no later than –
(i) in
the case of a large company, midnight on 31st March of the year
immediately following the year of assessment, or
(ii) in
the case of any other company, midnight on 31st May of the year
immediately following the year of assessment; and
(b) subject to this Article, shall be of an
amount equal to 50% of an estimate of the company’s liability to income
tax for the year of assessment.
(4) For the purposes of paragraph (3), the
estimate is such amount as the company reasonably estimates.
(5) A company must notify the Comptroller by the
date referred to in paragraph (3)(a) if it estimates that the amount it is
liable to pay under paragraph (3)(b) is zero.
(6) Subject to a notification being given under paragraph (5),
a company is liable to pay the instalment whether or not an assessment has been
raised for the year of assessment for which instalment is due.
(7) In this Article “large company”
means a company whose liability to income tax is or exceeds £500,000 for
each of the 2 years of assessment immediately preceding the year of
assessment in which an instalment is payable under this Article.”.
38 Article 41B
(duty of employer to deduct and account for tax) amended
In Article 41B –
(a) in paragraph (5)
for “An employer” there is substituted “Subject to paragraph (5AA),
an employer”;
(b) after
paragraph (5) there is inserted –
“(5AA) Provided that the
conditions in paragraph (5AB) are met, in the case of an employer which is
a company, the employer may, instead of complying with paragraph (5),
remit to the Comptroller no later midnight on the 15th day after the end
of each year, an amount equal to the aggregate of the amounts required to be
deducted under paragraph (1) during the year in respect of each of the
company’s employees.
(5AB) Those conditions are that –
(a) an application is made in writing to the
Comptroller by a director of the company for paragraph (5AA) to apply;
(b) at least 25% of the ordinary share capital
of the company is owned by each employee in respect of whom the deduction is
made; and
(c) the Comptroller agrees to the
application.”;
(c) in paragraph (5A)
after “paragraph (5)” in each place it appears there is
inserted “or (5AA)”;
(d) in paragraphs (9),
(11), (12) and (13) after “paragraph (5)” in each place it appears
there is inserted “or (5AA)”.
39 Article 41C
(calculation of rate) amended
In Article 41C –
(a) in paragraph (4)
for “statement” there is substituted “return”;
(b) in paragraph (6)
for “statement” there is substituted “return”;
(c) after
paragraph (7B) there is inserted –
“(7C) References to “rate” in paragraphs (7)
to (7B) include “provisional rate”.”.
40 Article 41H
(Arrangements for tax payers and certain exempt persons)
In Article 41H(1)(a), and (12)(b)(i) for
“statement” there is substituted “return”.
41 Article 41I
(late payment surcharge) amended
In Article 41I –
(a) for
paragraph (1) there is substituted –
“(1) In this Article
“specified time” –
(a) in relation to a year of assessment, means –
(i) in
the case of a person who must pay an instalment under Article 41A or 41AA
(other than where clause (ii) applies), midnight on 30th November of
the year immediately following the year of assessment; or
(ii) in
the case of a large company within the meaning of Article 41AA(7),
midnight on 30th September of the year immediately following the year of
assessment;”;
(b) in paragraph (2),
for “Any person chargeable to tax,” there is substituted “A
person who must pay an instalment under Article 41A or 41AA,”;
(c) for
paragraph (3) there is substituted –
“(3) Without prejudice to the
proviso in paragraph (2), that paragraph does not apply in respect of a
person required to pay an instalment under Article 41A(3) where 70% or
more of the amount of tax the person is liable to pay is paid by the specified
date.”.
42 Article 42
(proceedings for recovery of tax) amended
In Article 42 –
(a) after
paragraph (1A) there is inserted –
“(1AA) Notwithstanding paragraph (1),
proceedings for the recovery of an instalment of income tax due under Article 41AA
may be instituted by the Treasurer of the States at any time after the
instalment falls due.”;
(b) in paragraph (1B)
after “Article 41B(5),” there is inserted
“41B(5AA),”.
43 Article 49B
(general provision for collection of long-term care contributions) amended
In Article 49B –
(a) in paragraph (3)(d)
in the modified paragraph (5A)(i) after “paragraph (5)”
there is inserted “or (5AA)”;
(b) in paragraph (4)(c)
in the modified paragraph (4), for “statement” there is
substituted “return”.
44 Article 77AA
(Social Security allowances) amended
In Article 77AA –
(a) in paragraph (1)
for “maternity benefit, sickness benefit, accident benefit and death
grant” there is substituted “adoptive parent grant, incapacity
benefit, maternity benefit and death grant”;
(b) after
paragraph (3) there is inserted –
“(4) A payment of benefit to which
this Article applies shall only be treated as the earned income of an
individual’s civil partner B for the purposes of Article 92(4A)
if it is –
(a) an old age pension payable to the civil
partner B by virtue of civil partner B’s own insurance; or
(b) home carer’s allowance payable to
civil partner B.”.
45 Article 79
(pensions chargeable under Case III) amended
In Article 79 “(2)” is deleted.
46 Article 90
(relief in respect of interest paid to banks) amended
In Article 90 in the proviso for “statement” there
is substituted “return”.
47 Article 92B
(increase in exemption threshold for child day care) amended
In Article 92B(3) for “No increase claimed under paragraph (1)
shall be allowed unless the eligible claimant provides” there is
substituted “The Comptroller may require an eligible claimant to
provide”.
48 Article 103
(no exemption or relief unless statement delivered) repealed
Article 103 is repealed.
49 Article 121B
(effect of election for separate assessment) amended
In Article 121B(9) for “statement” there is
substituted “return”.
50 Article 122D
(effect of election for separate assessment) amended
In Article 122D(9) for “statement” there is
substituted “return”.
51 Article 125
(personal representatives of a deceased person) amended
In Article 125(1) for “statement” there is
substituted “return”.
52 Article 135A
(persons granted 1(1)(k) housing consent or Entitled status under Regulation 2(1)(e))
amended
In Article 135A(12B) for “Statistics Unit in the Chief
Minister’s Department” there is substituted “Statistics
Jersey (within the meaning assigned by Article 2 of the Statistics and
Census (Jersey) Law 2018)”.
53 Article 136
(penalties for failure to deliver statements, etc.) amended
In Article 136 –
(a) in
the heading for “statements” there is substituted
“returns”;
(b) in paragraph (1)
for “statement, list, return” there is substituted “return,
list,”;
(c) in paragraph (5)
for “statement, list, return”, in each place it appears there is
substituted “return, list”.
54 Article 137
(penalties for fraudulently or negligently making incorrect statements, etc) amended
In Article 137 –
(a) in
the heading for “statements” there is substituted
“returns”;
(b) in paragraph (1)(a)
for “statement” there is substituted “return”;
(c) in paragraph (1)(b)
“statement,” is deleted;
(d) in paragraph (2)
for “statement, list, return,” there is substituted “return,
list,”;
(e) in paragraph (3)
“statement,” in each place it appears is deleted.
55 Schedule 1A
(Articles as modified in relation to an LTC contribution) amended
In Schedule 1A –
(a) in
the modified Article 41B –
(i) in
paragraph (5) for “An employer” there is substituted “Subject
to paragraph (5AA), an employer”;
(ii) after
paragraph (5) there is inserted –
“(5AA) Provided that the
conditions in paragraph (5AB) are met, in the case of an employer which is
a company, the employer may, instead of complying with paragraph (5),
remit to the Comptroller no later than 15 days after the end of each year
an amount equal to the aggregate of the amounts required to be deducted under paragraph (1)
during the year in respect of each of his or her employees.
(5AB) Those conditions are that –
(a) an application is made in writing to the
Comptroller by a director of the company for paragraph (5AA) to apply;
(b) the director who makes the application owns
at least 25% of the ordinary share capital of the company; and
(c) the Comptroller agrees to the
application.”;
(iii) in
paragraph (5A) after “paragraph (5)” in each place they
appear there is inserted “or (5AA)”;
(iv) in
paragraphs (9), (11), (12) and (13) after “paragraph (5)”
in each place it appears there is inserted “or (5AA)”;
(b) in
the modified Article 41C –
(i) in
paragraph (4) for “statement” there is substituted
“return”;
(ii) in
paragraph (6) for “statement” there is substituted
“return”;
(iii) after
paragraph (7B) there is inserted –
“(7C) References to “rate” in paragraphs (7)
to (7B) include “provisional rate”.”.
part 2
customs and excise (jersey) law 1999
amended
56 Interpretation
In this Part, the “Law” means the Customs and Excise
(Jersey) Law 1999[7], and a reference to a
paragraph by number only is a reference to the paragraph of that number in
Part 2 of Schedule 1 to the Law.
57 Excise duty:
alcohol
(1) In paragraph 1
(spirits) –
(a) in
sub-paragraph (a) for “£18.00” there is substituted
“£18.63”;
(b) in
sub-paragraph (b) for “£39.97” there is substituted
“£37.23”.
(2) In paragraph 2
(wines) for the table there is substituted –
|
“Strength of wines
|
Rate per hectolitre
|
|
Wines exceeding 1.2% volume but not exceeding 5.5% volume
|
£80.27
|
|
Wines exceeding 5.5% volume but not exceeding 15% volume
|
£210.67
|
|
Wines exceeding 15% volume but not exceeding 22% volume
|
£258.16
|
|
|
Rate per litre
|
|
Wines exceeding 22% volume
|
£37.23”.
|
(3) In
each of paragraphs 3 (beer) and paragraph 4 (cider) –
(a) in
sub-paragraph (a)(i) to (iii) for “£16.15”,
“£32.29” and “£55.33” there is substituted
respectively “£16.72”, “£33.42” and
“£57.27”;
(b) in
sub-paragraph (b)(i) to (iii) for “£32.29”,
“£64.59” and “£110.65” there is substituted
respectively “£33.42”, “£66.85” and
“£114.52”.
(4) In paragraph 5
(other alcoholic beverages) for “£35.09” there is substituted
“£37.23”.
58 Excise duty:
tobacco
For the table in paragraph 6
there is substituted the following table –
|
“Type of tobacco
|
Rate of excise duty per
kilogramme
|
|
(a) unprocessed
tobacco
|
£359.03
|
|
(b) cigars
|
£386.54
|
|
(c) cigarettes
|
£483.34
|
|
(d) hand-rolling
tobacco
|
£435.75
|
|
(e) processed tobacco other than types (b) to (d)
|
£374.12”.
|
59 Excise duty:
hydrocarbon oil
In paragraph 7(1) –
(a) in
sub-paragraph (a) for “£50.42” there is substituted
“£52.42”;
(b) in
sub-paragraphs (b) and (c) for “£48.55” in each place it
appears there is substituted “£50.55”;
(c) in
sub-paragraph (d) for “£52.32” there is substituted the
amount “£54.47”.
part 3
goods and services (jersey) law 2007 amended
including regulations under that law
60 Interpretation
of this Part
In this Part a reference to an Article or Schedule by number only is
a reference to the Article or Schedule of that number in the Goods and Services
Tax (Jersey) Law 2007[8].
61 Article 74
(surcharge if GST not paid or return not made) amended
In Article 74 –
(a) in paragraph (1)
for “2.5%” there is substituted “10%”;
(b) in paragraph (2)
for “£50” there is substituted “£100”;
(c) after
paragraph (2) there is inserted –
“(2A) If a person fails to furnish on time a return described
in paragraph (2) by midnight on the specified date, the person is liable
to pay a further surcharge of £100 in respect of each month after the
specified date that the return is not furnished up to a maximum of 9 months.
(2B) In paragraph (2A), the specified date is the date
that is 3 months after the date on which a return is required by or under
this Law.
(2C) For the purposes of paragraph (2A) a return is not
furnished in respect of a month if it has not been furnished by midnight on the
final day of that month.”.
62 Schedule 5
(Group 5 – supplies by charities) amended
In paragraph 5(2) of Schedule 5 for “(a), (aa) or
(ab)” there is substituted “(a) or (aa)”.
63 Goods
and Services Tax (International Services Entities) (Jersey) Regulations 2008
In Regulation 4(1) (basis of fee) of the Goods and Services Tax
(International Services Entities) (Jersey) Regulations 2008[9] –
(a) in
sub-paragraph (ca) for the words “managed entity” there is
substituted “managed manager”;
(b) in sub-paragraph (g)(ii)
for “(f)” there is substituted “(fa)”;
(c) in
sub-paragraph (h)(ii) for “(f)” there is substituted
“(fa)”.
part 4
Stamp duties and fees (Jersey) law 1998
amended
64 Interpretation
of this Part
In this Part a reference to an Article or Schedule by number only is
a reference to the Article or Schedule of that number in the Stamp Duties and
Fees (Jersey) Law 1998[10].
65 Schedule 1
(judicial fees) amended
In Schedule 1 –
(a) in paragraph 2,
in the table after clause (viii) of item 13 for the words
“Provided that” to the end there is substituted –
|
“
|
Provided that in the
case of a contract concerning land on which a dwelling is, or is to be,
constructed, for clauses (iv) to (viii) there is substituted –
|
|
|
(iv) exceeds
£500,000 but does not exceed £700,000
|
£8,000 in
respect of the first £500,000, plus £3 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(v) exceeds
£700,000 but does not exceed £1,000,000
|
£14,000 in
respect of the first £700,000, plus £3.50 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(vi) exceeds £1,000,000
but does not exceed £1,500,000
|
£24,500 in
respect of the first £1,000,000 plus £4.50 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(vii) exceeds £1,500,000
but does not exceed £2,000,000
|
£47,000 in
respect of the first £1,500,000 plus £5.50 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(viii) exceeds £2,000,000 but does
not exceed £3,000,000
|
£74,500 in
respect of the first £2,000,000 plus £6.50 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier
|
|
|
(ix) exceeds £3,000,000
but does not exceed £6,000,000
|
£139,500 in
respect of the first £3,000,000 plus £8.50 for each £100 or
part of £100 in excess thereof
|
Contract
|
Greffier”;
|
|
|
(x) exceeds £6,000,000
|
£394,500 in
respect of the first £6,000,000 plus £9.50 for each £100 or
part of £100 in excess thereof
|
|
|
(b) in paragraph 3,
in items 1(b), 13(d1), 13(t) and 46(2)(AA) of the table for “(a), (aa) or
(ab)” there is substituted “(a) or (aa)”;
(c) in paragraph 3,
in item 1(aa) of the table –
(i) in
sub-paragraph (iv) for “, is £450,000 or less” there is
substituted “, is £700,000 or less”,
(ii) for
(A) and (B) of sub-paragraph (iv) there is substituted –
|
“
|
(A) where
the value of the property does not exceed £600,000
|
NIL
|
Billet
|
Greffier
|
|
|
(B) where
the value of the property exceeds £600,000 but does not exceed £700,000
|
0.5% x
((Y – 600,000)
/100,000)
where Y is the gross
value of the property or, where 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 sale
|
Billet
|
Greffier”;
|
(d) in paragraph 3
in item 2 of the table for paragraph (1)(da) there is substituted –
|
“(da) Where the claim exceeds £5,000
but does not exceed £10,000
|
rate G
|
Claim Summary
|
Greffier
|
|
(db) Where the claim exceeds
£10,000, but does not exceed £15,000
|
rate H
|
Claim Summary
|
Greffier
|
|
(dc) Where the claim exceeds
£15,000, but does not exceed £25,000
|
rate I
|
Claim Summary
|
Greffier
|
|
(dd) Where the claim exceeds
£25,000, but does not exceed £30,000
|
rate J
|
Claim Summary
|
Greffier”;
|
(e) in paragraph 3,
for item 2(2) of the table there is substituted –
|
“(2)
|
In the Royal Court
(excluding acknowledgement of debt) on Table
or au Greffe –
|
|
|
|
|
|
(a) First
billet in the proceedings or counterclaim in an action
|
rate J
|
Billet or Counterclaim
|
Greffier
|
|
|
(b) Before the Superior
Number
|
rate J
|
Billet
|
Greffier
|
|
|
(c) Appeal to the
Inferior Number
|
rate J
|
Notice of Appeal
|
Greffier
|
|
|
(d) Setting down for hearing
|
rate J
|
Application
|
Greffier
|
|
|
(e) Hearing of the action
in a case, or any interlocutory matter therein, where the court appoints a
special day for judging a dispute between parties, whether or not witnesses
are heard, for each half day or part of a half day –
|
|
Billet or application
|
Greffier
|
|
|
(i) where the claim
does not exceed £2 million
|
rate J
|
|
|
|
|
(ii) where the claim
exceeds £2 million
|
rate M
|
|
|
|
|
(f) Each
intervention or opposition made during the course of an action
|
rate E
|
Intervention or Opposition
|
Greffier”;
|
(f) in
paragraph 3, item 13(b) and (m) of the table for sub-paragraphs (i),
(ii) and (iii) there is substituted –
|
“
|
(i) does
not exceed £350,000
|
NIL
|
Contract
|
Greffier
|
|
|
(ii) exceeds
£350,000 but does not exceed £450,000
|
NIL in respect of
the first £350,000 plus £1 for each £100 or part of
£100 in excess thereof
|
Contract
|
Greffier
|
|
|
(iii) exceeds
£450,000 but does not exceed £500,000
|
the amount of stamp duty that would have been payable if paragraph (a)
had applied reduced by the following formula:
6,000 – ((V- 450,000) x 12%)
Where V is the gross value of
the property or, where 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”;
|
(g) in paragraph 3
for item 13(d) of the table there is substituted –
|
“(d)
|
Of creation of rente nouvelle, or of one or more simple conventionnel hypothecs, in
association with a contract of purchase or a contract of lease or transfer of
lease, of land on which a dwelling is, or is to be, constructed for
occupation by the purchaser, where –
(i) the
contract of creation of the rente nouvelle,
hypothec or hypothecs and the contract of purchase, lease or transfer of
lease relate to the same property,
(ii) both
contracts were registered in the Public Registry and passed before the Royal
Court on the same day, and
(iii) the
capital value of the rente nouvelle or the
capital sum hypothecated, in respect of duty due before 1st January 2015,
does not exceed £450,000 or, in respect of duty due on or after that
date, does not exceed £700,000,
if that value or sum –
|
|
|
|
|
|
(A) does not exceed £600,000
|
NIL
|
Contract
|
Greffier
|
|
|
(B) exceeds £600,000
but does not exceed £700,000
|
0.5% x
((Y – 600,000)
/100,000)
where Y is the gross
value of the property or, where 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 sale
|
Contract
|
Greffier”;
|
(h) in paragraph 3,
in item 46 of the table for sub-paragraphs (d) to (j) there is
substituted –
|
“
|
(d) exceeds
£500,000 but does not exceed £700,000
|
£8,000 in
respect of the first £500,000, plus £3 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(e) exceeds
£700,000 but does not exceed £1,000,000
|
£14,000 in
respect of the first £700,000, plus £3.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(f) exceeds
£1,000,000 but does not exceed £1,500,000
|
£24,500 in
respect of the first £1,000,000 plus £4.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(g) exceeds
£1,500,000 but does not exceed £2,000,000
|
£47,000 in
respect of the first £1,500,000 plus £5.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(h) exceeds
£2,000,000 but does not exceed £3,000,000
|
£74,500 in
respect of the first £2,000,000 plus £6.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(i) exceeds £3,000,000
but does not exceed £6,000,000
|
£139,500 in
respect of the first £3,000,000 plus £8.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier
|
|
|
(j) exceeds £6,000,000
|
£394,500 in
respect of the first £6,000,000 plus £9.50 for each £100 or
part of £100 in excess thereof
|
Application
|
Greffier”.
|
part 5
taxation (land TRANSACTIONS) (jersey) Law 2009
amended
66 Schedule
(value of transaction and rate of LTT applicable) amended
In the Schedule to the Taxation (Land Transactions) (Jersey) Law 2009[11] –
(a) for
the table in paragraph 2(1) (basic amount charged on the value of a
transaction described in Article 3(1)(a) or (b)) there is substituted –
|
“(a) does
not exceed £50,000
|
50p each £100 or part of £100 subject to a minimum of
£10
|
|
(b) exceeds
£50,000 but does not exceed £300,000
|
£250 in respect of the first £50,000, plus £1.50
for each £100 or part of £100 in excess thereof
|
|
(c) exceeds
£300,000 but does not exceed £500,000
|
£4,000 in respect of the first £300,000, plus £2
for each £100 or part of £100 in excess thereof
|
|
(d) exceeds
£500,000 but does not exceed £700,000
|
£8,000 in respect of the first £500,000, plus £3
for each £100 or part of £100 in excess thereof
|
|
(e) exceeds
£700,000 but does not exceed £1,000,000
|
£14,000 in respect of the first £700,000, plus
£3.50 for each £100 or part of £100 in excess thereof
|
|
(f) exceeds
£1,000,000 but does not exceed £1,500,000
|
£24,500 in respect of the first £1,000,000 plus
£4.50 for each £100 or part of £100 in excess thereof
|
|
(g) exceeds
£1,500,000 but does not exceed £2,000,000
|
£47,000 in respect of the first £1,500,000 plus
£5.50 for each £100 or part of £100 in excess thereof
|
|
(h) exceeds
£2,000,000 but does not exceed £3,000,000
|
£74,500 in respect of the first £2,000,000 plus
£6.50 for each £100 or part of £100 in excess thereof
|
|
(i) exceeds
£3,000,000 but does not exceed £6,000,000
|
£139,500 in respect of the first £3,000,000 plus
£8.50 for each £100 or part of £100 in excess thereof
|
|
(j) exceeds
£6,000,000
|
£394,500 in respect of the first £6,000,000 plus
£9.50 for each £100 or part of £100 in excess thereof”;
|
(b) in paragraph 3B (lower
value residential property: security interests) –
(i) in
sub-paragraph (1)(b) for “£450,000” there is substituted
“£700,000”,
(ii) for
sub-paragraph (2) there is substituted –
“(2) The rate of LTT applicable to
a transaction to which this paragraph applies is £80 plus –
(a) where the value of the
property does not exceed £600,000, nil;
(b) where the value of the property exceeds
£600,000 but does not exceed £700,000 –
0.5% x ((Y – 600,000)/100,000)
where Y is the value of the
property.
(3) For the purposes paragraph (2)
“value of the property” is construed in accordance with paragraph (1)(b).”;
(c) for
paragraph 4(3) (first-time buyers purchase) there is substituted –
“(3) The
rate of LTT applicable to a transaction to which this paragraph applies is
£80, plus –
(a) where the value of the transaction does not
exceed £350,000, nil;
(b) where the value of the transaction exceeds
£350,000 but does not exceed £450,000, nil in respect of the first
£350,000, plus £1 for each £100 or part of £100 in
excess thereof;
(c) where the value of the transaction exceeds
£450,000 but does not exceed £500,000, the amount of LTT that would
have been payable if paragraph (2) had applied reduced by the following
formula:
6,000 – ((V- 450,000)
x 12%)
where V is the value of the
transaction.”;
(d) in paragraph 8
(charitable occupier or secured party), for the words “(a), (aa) or
(ab)” there is substituted “(a) or (aa)”.
part 6
closing
67 Citation
and commencement
(1) This
Article may be cited as the Finance (2019 Budget) (Jersey) Law 2019.
(2) Subject
to paragraph (3), Part 1 has effect for year of assessment 2019
and subsequent years.
(3) In
Part 1 –
(a) Articles 15,
16 and 17 come into force on 9th October 2018;
(b) Articles 10,
12 and 19 have effect for year of assessment 2018 and subsequent years.
(4) Subject
to paragraph (5), Parts 2, 3, 4 and 5 come into force on 1st January 2019.
(5) In
Part 3, Article 61 comes into force on 1st January 2020.
l.-m. hart
Deputy Greffier of the States