Share Transfer developments figures 2018 to 2022 (FOI)

Request 

During the last 5 years how many Share Transfer developments such as Westmount, College Gardens, Metropol, Merchant Square and West Hill have had their LTT payable assessed on current market value rather than purchase price? 

Response 

Land Transaction Tax is charged on the value of the transaction. In accordance with the Land Transaction Tax Law, the value of the transaction is the consideration or the gross value of the land if it exceeds the consideration. Under the Law, the gross value is the market value. 

In paying Land Transaction Tax, purchasers are required to declare the value of the transaction. There is no requirement to state the basis upon which the value is calculated. 

This information is therefore not held. Article 3 of the Freedom of Information (Jersey) 2011 Law applies. 

Article applied 

Article 3 - Meaning of "information held by a public authority"

For the purposes of this Law, information is held by a public authority if –

(a)     it is held by the authority, otherwise than on behalf of another person; or

(b)     it is held by another person on behalf of the authority.