Savings, investment income and foreign distributions

​​​​Savings income

If you receive interest from a bank account or any other type of financial investment, held in Jersey or overseas, it's taxable for the year in which the income arises.

Some investments that are exempt from tax in their own country are taxable in Jersey.

The following is a list of common examples of incom​e or products that generate an income taxable in Jersey:

• Jersey bank account interest, including the interest on CI Co-Op accounts
• overseas bank account interest
• United Kingdom Individual Savings Accounts (ISAs)
• NS&I guaranteed growth bonds
• NS&I guaranteed income bonds​
  
• NS&I direct saver
• NS&I income bonds
• government securities
• loan interest received
• any investment product that pays an income or a guaranteed return that's not capital growth 

Tax free

Winnings from NS&I premium bonds aren't taxable (it's a prize from a draw, not income) and interest from NS&I savings certificates are exempted from tax in Jersey.

Channel Island Co-Op dividends are exempted​ from tax in Jersey.

Dividend income

If you hold shares, then it’s likely that you will receive income from those shareholdings.

The most common type of income are dividends, which are taxable in Jersey.

Exception

Channel Islands Co-Operative Society ​dividends are not taxable.

Foreign distributions

​Schedule 5, Paragraph 13, of the Income Tax (Jersey) Law 1961​

As part of an exercise to remove spent transitional and savings provisions in Schedule 5 of the Income Tax Law, the Income Tax Law (Jersey) Amendment Order 2024 came into force on 22 November 2024. Paragraph 13 was deleted, but it subsequently became clear that some taxpayers continued to rely on it. The Treasury Minister consequently made the Income Tax Law (Jersey) Amendment order 2025 which effectively reinstated that provision from 4 March 2025.

The Comptroller of Revenue consequently confirms that he will treat the intervening period between​ the 2024 Order and the 2025 Order as if the 2024 Order had no effect in respect of Paragraph 13 of Schedule 5. 

Any taxpayer wishing to have greater certainty of treatment may approach Revenue Jersey for a specific tax ruling.

Deductions

Foreign tax deducted 

If foreign tax has been paid in the country where the income has arisen you can make a claim for double tax credit relief. There must be a double taxation agreement with the country which includes that source of income.

If there is not an agreement you can request that the income is taxed net in Jersey.

You need to provide the details of your claim including proof of the tax suffered. Use the personal tax enqu​iry form or write to our postal address.

​​Annual interest or annual payments

​Annual interest, any annuity or other annual payments payable out of the foreign income to a person not resident in Jersey, ​can be deducted before the foreign income is received in Jersey.