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WQ.171/2022
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES BY DEPUTY M.B. ANDREWS OF ST. HELIER NORTH
QUESTION SUBMITTED ON TUESDAY 20th SEPTEMBER 2022 ANSWER TO BE TABLED ON TUESDAY 27th SEPTEMBER 2022
Question
Will the Minister advise how much tax has been generated, per year, from the taxable income (i.e. 1% above the 20% tax threshold) paid by High Value Residents since the inception of the regime?
Answer
The Minister is grateful to the Deputy for confirming that ‘High Value Residents’ (‘HVRs’) relates to those individuals who have come to Jersey by obtaining “entitled status” under Regulation 2(1)(e) of the Control of Housing and Work (Residential and Employment Status) (Jersey) Regulations 2013 and who have access to preferential tax rates as a result.
It has been agreed that information will be provided for the fourth version of the HVR Tax Regime which commenced in 2018. Information relating to the earlier version of the Regime was published in the report “Post-Implementation Review of the HVR Regime Applicable Since July 2011” (R.136/2016).
Taxpayer data relating to 2021 will not be available until after the first quarter of 2023. The income tax generated from income chargeable at 1% was as follows.
• 2018: £134K
• 2019: £296K
• 2020: £570K