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ARTICLE · 29 DECEMBER 2023

Changes To Stamp Duty, LTT & EPTT In Jersey

Carey Olsen
Carey Olsen
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Carey Olsen

Carey Olsen

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The Finance (2024 Budget) Jersey Law 202 – (the "Law") was adopted on 14 December 2023 bringing in changes to stamp duty, LTT and EPTT with effect from 1 January 2024.

JerseyTax
Christopher Philpott
Christopher Philpott
Will Whitehead
Will Whitehead
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The Finance (2024 Budget) Jersey Law 202 – (the "Law") was adopted on 14 December 2023 bringing in changes to stamp duty, LTT and EPTT with effect from 1 January 2024.

In this briefing, we will review the implications of the new provisions of the Law for property transactions in Jersey:

Increase to the first-time buyer threshold

The Law provides a welcome amendment to first time buyer stamp duty rates (and equivalent land taxes such as land transactions tax (LTT) in respect of share transfer properties and enveloped property transactions tax (EPTT)), with the maximum purchase price threshold for first-time buyers increasing from £500,000 to £700,000. The revised rates of stamp duty for first time buyers will now be as follows (in addition to usual registration fees):

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