Jersey Issues Draft 2015 Budget

On 18 July 2014, Jersey presented its draft 2015 budget. The main proposals of the draft budget include:

• Maintaining the Marginal Rate at 26% for 2015
• Increasing all tax exemption thresholds by 1.7%
• Reducing the stamp duty on the cost of borrowing on lower value properties (Nil for the first £300,000 then 0.25% on the balance up to a maximum property cost of £400,000)
• Increasing the stamp duty payable on purchasing residential property costing £1m or more on a rising scale
• Capping mortgage i…