At present, the purchase of immovable property located in Jersey
through the acquisition of the share capital of a property owning
company (wherever domiciled) is exempt from stamp duty. However,
the States of Jersey will shortly implement legislation to impose a
tax equivalent to stamp duty on such a sale, effectively closing
the "loophole".
The UK first introduced its Annual Tax on Enveloped Dwellings
(ATED) on 1 April 2013 for properties worth over
£2 million. Since then, the threshold has been steadily
reduced and the tax now applies to all property worth over
£500,000. Guernsey introduced such a measure back in November
2017, in a law which reflects much of the same language as that now
proposed in Jersey.
