Income Tax
(Prescribed Limit and Rate) (Jersey) Regulations 2013
Made 5th December 2013
Coming into force 1st
January 2014
THE STATES, in pursuance of Article 135A(12) of the Income Tax (Jersey) Law 1961[1], have made the following
Regulations –
1 Interpretation
In these Regulations, “Law” means the Income Tax
(Jersey) Law 1961[2].
2 Prescribed
Limit
(1) The
prescribed limit referred to in Article 135A(3) of the Law is £625,000.
(2) The
prescribed limit referred to in Article 135A(5) of the Law is £1 million.
3 Prescribed
rate
(1) The
prescribed rate referred to in Article 135A(3) of the Law shall be 1 pence
in the pound.
(2) The
prescribed rate referred to in Article 135A(5) of the Law is –
(a) on
the first £500,000 of the income to be charged to tax in accordance with
that paragraph, 10 pence in the pound;
(b) on
the remainder of that income, 1 pence in the pound.
4 Regulations
repealed
The Income Tax (Prescribed Limit and Rate) (Jersey) Regulations 2004[3] are repealed.
5 Citation
and commencement
These Regulations may be
cited as the Income Tax (Prescribed Limit and Rate) (Jersey) Regulations 2013
and shall come into force on 1st January 2014.
a.h. harris
Deputy Greffier of the States