High Value Residents (FOI)

Request

A

What is the total market value of properties purchased by High Net Worth Individuals (HNWI) since the tax regime inception (per year)?

B

How much stamp duty has been paid during each year (HNWI aggregate amount) since the tax regime inception?

C

How many HNWI are registered under the tax regime per year since the inception of the regime?

Response

The questions refer to High Net Worth Individuals – we have assumed that the request is seeking information about those granted Entitled status under Regulation 2(1)(e) of the Control of Housing and Work Regulations 2013 (and its predecessors) who, under Article 135A(1) Income Tax (Jersey) Law 1961, are referred to as High Value Residents ( HVRs ).

A

This information is not held. Article 3 of the Freedom of Information (Jersey) Law 2011 applies.

B

Part of the information requested is exempt under Article 23 Freedom of Information (Jersey) Law 2011, as it is available to the applicant by another means. The information for the period 2012 – 2016 is available in R130/2016 a report to the States Assembly: this, however, only refers to the first property purchased by the HVR.

Review of HVR Regime applicable since July 2011

The information to address the remaining years is not held by the Government of Jersey. Article 3 of the Freedom of Information (Jersey) Law 2011 applies.

C

The information for all years after 2007 is available to the applicant by other means and is therefore exempt under Article 23 of the Freedom of Information (Jersey) Law 2011.

Public documents include the reports to the States – R130/2016, R126/2013, which contain data from 2008, and various written questions in the States Assembly, most recently WQ79/2021 which contained up to date data.

Review of HVR Regime applicable since July 2011 

Tax Regime for HNWI review 2013

Written Question: WQ79/2021  

The Government of Jersey does not hold the yearly data for 2007 and prior, although public information is available which contains indicative figures for these earlier periods. Please see the following links to two relevant reports available via www.gov.je:

Review of the 1(1)(k) regime for the States of Jersey.DOCX (gov.je)

Microsoft Word - HISTORY OF THE 1_1_k Policy - Colin Powell.doc (gov.je)  

Reproduced below is the relevant section of the information from the answer to WQ79/2021

The number of HVRs in Jersey in each year are as follows:

Articles applied

Article 3 - Meaning of “information held by a public authority”

For the purposes of this Law, information is held by a public authority if –

(a) it is held by the authority, otherwise than on behalf of another person; or

(b) it is held by another person on behalf of the authority.

Article 23 - Information accessible to applicant by other means

(1) Information is absolutely exempt information if it is reasonably available to the applicant, otherwise than under this Law, whether or not free of charge.

(2) A scheduled public authority that refuses an application for information on this ground must make reasonable efforts to inform the applicant where the applicant may obtain the information.