Jersey, Channel Islands

Overview

Last reviewed - 05 July 2021

The Channel Islands, located in the English Channel, are constitutionally separate from the United Kingdom and France and, to all intents and purposes, are self-governing. Jersey, a British Crown dependency, is the largest of the Channel Islands. It is divided into 12 parishes, with Saint Helier as the capital. The official language of Jersey is English, and the currency is the British pound sterling (GBP). The state of Jersey is an effective legislator and government and ‘runs’ the island at a local level.

Jersey is one of the world’s major international finance centres, with a stable political, legal, and fiscal infrastructure and government. The Island is well regulated and has high standards of international telecommunications, information technology, postal, and courier services.

At PwC, we aim to deliver outstanding service to our clients and their organisations, putting relationships, integrity, and quality at the heart of our approach. Locally, the PwC Channel Islands firm has one of the largest and most experienced corporate and personal tax departments in the Islands, with offices in Jersey and Guernsey. The breadth of knowledge and expertise, and the international perspective offered by our tax specialists, has been gained through working in a number of firms' tax practices within the PwC global network. We are able to assist businesses and individuals with both local and international tax challenges. Our approach embraces all aspects of tax problem solving, from ideas to implementation, by blending the skills of financial and tax specialists with economists, lawyers, and our other in-house experts, as necessary. Locally, the PwC Channel Islands firm is highly respected for being at the forefront of the public debate on tax policy, rules, and regulations.

Quick rates and dates

Corporate income tax (CIT) rates
Headline CIT rate (%)

0, with certain financial services companies paying 10, and utility companies and large corporate retailers paying 20.

Rent: 20

Corporate income tax (CIT) due dates
CIT return due date

Midnight on 31 December following the year of assessment.

CIT final payment due date

30 September for large remitters and 30 November for all other companies (in the year following the year of assessment).

CIT estimated payment due dates

The first instalment payment is due by 31 March for large remitters and 31 May for all other companies (in the year following the year of assessment).

Personal income tax (PIT) rates
Headline PIT rate (%)

20

Personal income tax (PIT) due dates
PIT return due date

Paper filing: 31 May

Electronic filing: 31 July

PIT final payment due date

30 November

PIT estimated payment due dates

31 May

Value-added tax (VAT) rates
Standard VAT rate (%)

Goods and Services Tax (GST): 5

Withholding tax (WHT) rates
WHT rates (%) (Dividends/Interest/Royalties)

NA

Capital gains tax (CGT) rates
Headline corporate capital gains tax rate (%)

NA

Headline individual capital gains tax rate (%)

NA

Net wealth/worth tax rates
Headline net wealth/worth tax rate (%)

NA

Inheritance and gift tax rates
Headline inheritance tax rate (%)

There is no inheritance tax. However, probate stamp duty is charged on a deceased person's moveable estate up to 0.75% (capped at GBP 100,000).

Headline gift tax rate (%)

NP

NA stands for Not Applicable (i.e. the territory does not have the indicated tax or requirement)

NP stands for Not Provided (i.e. the information is not currently provided in this chart)

All information in this chart is up to date as of the 'Last reviewed' date on the corresponding territory Overview page. This chart has been prepared for general guidance on matters of interest only, and does not constitute professional advice. You should not act upon the information contained in this chart without obtaining specific professional advice. No representation or warranty (express or implied) is given as to the accuracy or completeness of the information contained in this chart, and, to the extent permitted by law, PwC does not accept or assume any liability, responsibility or duty of care for any consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this chart or for any decision based on it.