Skip to main content Skip to accessibility
This website is not compatible with your web browser. You should install a newer browser. If you live in Jersey and need help upgrading call the States of Jersey web team on 440099.
Government of Jerseygov.je

Information and public services for the Island of Jersey

L'înformâtion et les sèrvices publyis pouor I'Île dé Jèrri

  • Choose the service you want to log in to:

  • gov.je

    Update your notification preferences

  • one.gov.je

    Access government and parish services

  • CAESAR

    Clear goods through customs or claim relief

  • Talentlink

    View or update your States of Jersey job application

States of Jersey tax receipts

​​​Income tax receipts​

In 2016, income tax receipts were £488 million. This was £17 million above the revised forecast. 

This was primarily down to an increase in the Personal Tax accounts reflecting the strength of the economy and record employment levels.

 

 

Levels of tax exemption in 2016

Exemptions

Threshold

(Marginal rate)

Threshold

(Standard rate)​

Single person£14,350-​
Single person (aged 65 years or over)£15,900-​
Married couple / civil partnership£23,000-​

Married couple / civil partnership (aged 65 years or over)

£26,100-​



 

Levels of tax allowance in 2016

​Allowance

​Amount

(Marginal rate)

Amount

(Standard rate)​

Child allowance£3,000£2,000​
Child allowance (higher education)£9,000£6,000​

Additional allowance: for people with single-handed responsibility for children

£4,500£3,000​
Wife's / civil partner's earned income a​​​llowance£4,500-​

2016 Budget agreed phasing out of the Standard Child Allowance and Additional Allowance for those on the Standard 20% rate over the period of the MTFP 2016-2019.

Goods and services tax (GST)

The States agreed in July 2005 to introduce a 3% broad-based GST in May 2008.The standard rate of GST was increased from 3% to 5%, effective June 2011. The full year effect on GST receipts at the new rate of 5% was first seen in 2012. 

In 2016, income from GST was £85 million, almost the same as 2015.

Businesses within the financial services industry can apply for an International Services Entity (ISE) Fee as an alternative to GST. These ISE Fees contribute almost £9 million of GST revenue.

 

The strategic reserve

The strategic reserve is a capital safeguard against unforeseen events and economic downturn.

 

Figures are in £ millions and stated at market value at 31 December each year.

The stabilisation fund

In December 2006, the States agreed to establish a stabilisation fund to:

  • provide protection from adverse impacts of economic cycles
  • create a more stable environment with low inflation

The intention is that money is paid into the fund when the economy is growing strongly, and drawn out from the fund to support the economy when it is performing more weakly.

The fund has been used to:​

  • provide £44 million for the economic stimulus package (agreed by the States in 2009)
  • support the Consolidated Fund in 2010 (transfer of £68 million)
  • support the Cosolidation Fund during 2011 as agreed in the 2011 budget (£46 million transfer)

The stabilisation fund was fully drawn down to the consolidated fund in 2014.


 

Figures are in £ millions and stated at market value as at 31 December each year.

Back to top
rating button