Verified Facts
In Jersey, tax rates range from 0% to 20% for income tax, 0% for corporate tax for most companies, and 5% for goods and services tax (GST), with various rules and exemptions applying to expats, businesses, and investments.
Tax laws change frequently. Always consult a qualified tax professional for advice specific to your situation. This is a general guide only.
Quick Facts
Tax System Overview
Jersey has a territorial tax system, meaning that individuals and companies are only taxed on their Jersey-sourced income, rather than their worldwide income. To be considered a tax resident in Jersey, an individual must be physically present in the island for at least 6 months in a calendar year, or have a permanent home in Jersey and be present in the island for at least 91 days in a calendar year.
The tax system in Jersey is designed to be simple and efficient, with a focus on encouraging business and investment in the island. The government offers a range of incentives and exemptions to attract companies and individuals to Jersey, including a 0% corporate tax rate for most companies and a range of tax reliefs for individuals. The tax authorities in Jersey, the Comptroller of Taxes, are responsible for collecting taxes and ensuring compliance with tax laws and regulations.
Personal Income Tax
| Income Bracket (GBP) | Tax Rate |
|---|---|
| 0 - 14,900 | 0% |
| 14,901 - 24,900 | 10% |
| 24,901 - 49,900 | 15% |
| 49,901 - 149,900 | 20% |
| 149,901 and above | 20% |
| Individuals in Jersey are entitled to a range of deductions and allowances, including a personal allowance of GBP 14,900, and allowances for mortgage interest, pension contributions, and charitable donations. Tax returns must be filed by the end of May each year, and payment of any tax due must be made by the end of June. Individuals can file their tax returns online or by post, and can also appoint a tax agent to act on their behalf. |
Corporate & Business Tax
- The corporate tax rate in Jersey is 0% for most companies, although some financial institutions and large corporate groups may be subject to a higher rate of 10% or 20%.
- Small businesses and start-ups may be eligible for a range of incentives and reliefs, including a 0% corporate tax rate for the first three years of trading.
- Jersey has a number of free zones and business parks, which offer a range of benefits and incentives to companies, including reduced rates of tax and simplified regulatory requirements.
- Companies in Jersey must register with the Jersey Financial Services Commission and obtain a business license before commencing trading.
- Companies must also file an annual tax return and pay any tax due by the end of November each year.
VAT / Sales Tax
- The standard rate of goods and services tax (GST) in Jersey is 5%, although some goods and services are exempt or subject to a reduced rate of 0%.
- Exemptions include basic foodstuffs, healthcare services, and educational services.
- Some goods and services are subject to a reduced rate of 0%, including books, newspapers, and children's clothing.
- Visitors to Jersey may be eligible for a tourist refund scheme, which allows them to claim a refund of GST paid on certain goods and services.
For Expats & Foreign Workers
- Expats and foreign workers in Jersey are subject to the same tax rules as Jersey residents, although they may be eligible for a range of tax reliefs and exemptions.
- Jersey has double taxation treaties with 10 countries, including the UK, France, and Germany, which can help to reduce the risk of double taxation.
- Expats and foreign workers must register with the Social Security Department and obtain a social security number before commencing work in Jersey.
- Expats and foreign workers may be eligible for a range of social security benefits, including healthcare, unemployment benefit, and pension benefits.
- Expats and foreign workers must comply with remittance rules, which require them to bring a certain proportion of their income into Jersey each year.
- Expats and foreign workers may be eligible for a range of tax incentives and reliefs, including a reduced rate of tax on foreign-sourced income.
Crypto & Investment Income
- Investment income, including dividends, interest, and rental income, is subject to income tax in Jersey, although some exemptions and reliefs may apply.
- Cryptocurrency is subject to income tax in Jersey, although the tax treatment will depend on the specific circumstances of the transaction.
- Individuals and companies in Jersey may be eligible for a range of tax reliefs and exemptions on investment income, including a reduced rate of tax on foreign-sourced income.
- The tax authorities in Jersey are currently reviewing the tax treatment of cryptocurrency and other digital assets, and individuals and companies should seek professional advice to ensure compliance with all relevant tax laws and regulations.