Jersey, Channel Islands
Social security contributions
Employees are subject to social security contributions at a rate of 6% on their gross earnings, up to the monthly standard earnings limit of GBP 5,450 for 2024 (GBP 5,060 for 2023).
The rate of employer contributions is 6.5%, up to the same earnings limit. Employers also have to pay a 2.5% rate of social security on earnings above the monthly standard earnings limit, up to an upper earnings limit of GBP 24,850 for 2024 (GBP 23,072 for 2023).
Self-employed individuals are required to contribute at a rate of 12.5%, up to the standard earnings limit and also 2.5% on their earnings above this up to the upper earnings limit.
Long-term care contributions
Individuals who are resident in Jersey are also liable to long-term care contributions. Individuals are subject to long-term care contributions at a rate of 1.5% on their gross earnings up to the upper earning limit for social security (GBP 298,200 for 2024; GBP 276,864 for 2023).
Goods and services tax (GST)
The standard rate of GST is 5%.
See the Other taxes section in the Corporate tax summary for more information.
Net wealth/worth taxes
There are no net wealth/worth taxes in Jersey.
Probate stamp duty
Probate stamp duty is charged on a deceased person's moveable estate. For individuals who were resident in Jersey, the whole of their estate is subject to probate stamp duty, whilst for individuals who were resident outside of Jersey, just their Jersey situs assets are subject to probate stamp duty. The current rates are as follows:
- On estates that do not exceed GBP 10,000: No probate stamp duty is due.
- On estates of more than GBP 10,000, but which do not exceed GBP 100,000: Probate stamp duty is due at the rate of 0.5%.
- On estates of more than GBP 100,000: Probate duty of GBP 500 is due in respect of the first GBP 100,000 of value and then 0.75% is due on each additional GBP 10,000 over the initial GBP 100,000.
The cap on the amount of probate stamp duty payable on an estate is GBP 100,000.
There is no inheritance tax in Jersey.
There are no property taxes in Jersey apart from income tax on Jersey-source property income, stamp duty on Jersey real estate, land transaction tax on some Jersey real estate, and rates levied by each parish.
Rent-a-room relief was introduced with effect from the 2023 year of assessment, providing an income tax exemption where an individual rents out a room in their main residence and the amount received is less than GBP 10,000 in the year of assessment. If more than GBP 10,000 is received, the full amount will be taxable.
Stamp duty is payable on the purchase or transfer of Jersey real estate, with varying rates. For 2023, stamp duty on purchased properties that are not a person's 'main residence' will be increased by 4 percentage points above the normal rate for residential property.
Mortgages secured by a charge over Jersey real estate are subject to stamp duty at rates of up to 0.5% of the amount borrowed. No stamp duty is payable on the transfer of shares.