Individuals may need to take advice on the timing of their move to Jersey, particularly with regard to:
- the date of departure from the territory where they were formerly resident to the end of the tax year in that territory, in order not to be assessed for subsequent periods unnecessarily; and
- acquiring a new residence status in Jersey.
New residents should review their investments before moving to Jersey. Investments which may be tax exempt in the individual's home country, for example, TESSAs or PEPs held by individuals moving from the UK, will generally not be tax exempt in Jersey. Where appropriate such investments should be realised before the individual becomes resident in Jersey. New residents will also want to consider the incidence of other tax liabilities such as withholding taxes on income and taxes on capital on the investments that they continue to hold outside Jersey.
