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Jersey Approves Budget Measures for 2016 including New Individual Income Tax Thresholds, Dividend Tax Credit Restrictions and a New Tax Return Deadline

06 January 2016

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Approved Changes

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Jersey

On 15 December 2015, Jersey's States Assembly approved the Finance (2016 Budget) (Jersey) Law 201.The main measures include: The individual income tax thresholds for 2016 are as follows: Single person - GBP 14,350 Single person (Aged 65+) - GBP 15,900 (unchanged) Married Couple/Civil Partnership - GBP 23,000 Married Couple/Civil Partnership (Aged 65+) - GBP 26,100 (unchanged) The tax credit for dividends received is no longer repaid in respect of any dividends received by companies subject to the 0% corporate tax rate from the date the budget was lodged (20 October 2015); The tax credit for dividends received by financial services...