This content has been automatically generated from the original PDF and some formatting may have been lost. Let us know if you find any major problems.
Text in this format is not official and should not be relied upon to extract citations or propose amendments. Please see the PDF for the official version of the document.
WQ.124/2023
WRITTEN QUESTION TO THE MINISTER FOR TREASURY AND RESOURCES
BY DEPUTY M.B. ANDREWS OF ST. HELIER NORTH
QUESTION SUBMITTED ON MONDAY 27th MARCH 2023
ANSWER TO BE TABLED ON MONDAY 3rd APRIL 2023
Question
Can the Minister confirm the High Net Worth Individuals’ personal Income Tax contribution as a percentage of overall personal Income Tax for 2022 and provide details as to how this compares to the previous 4 years?
Answer
The filing deadline for year of assessment 2022 is 31 July 2023 for online filers. As the filing deadline has not yet passed, data relating to this year of assessment is not available. Information has therefore been provided for year of assessment 2021 and the previous 4 years.
Data from relevant Tax Statistical Digests has been used to calculate income tax from HVRs as a percentage of total personal income tax. Provisional figures are provided for YOA 2021 as this data is still being finalised. Amounts may differ from previous answers due to adjustments.
|
Year of assessment |
HVR income tax |
Total income tax |
Percentage of income tax from HVRs |
|
2017 |
£13m |
£422m |
3.1% |
|
2018 |
£17.1m |
£430.5m |
4.0% |
|
2019 |
£21.5m |
£455m |
4.7% |
|
2020 |
£20.9m |
£460m |
4.5% |
|
2021 |
£24m |
£505.5m |
4.7% |