Jersey Approves Budget Measures for 2016 including New Individual Income Tax Thresholds, Dividend Tax Credit Restrictions and a New Tax Return Deadline

On 15 December 2015, Jersey's States Assembly approved the Finance (2016 Budget) (Jersey) Law 201.The main measures include:

• The individual income tax thresholds for 2016 are as follows:
  • Single person - GBP 14,350
  • Single person (Aged 65+) - GBP 15,900 (unchanged)
  • Married Couple/Civil Partnership - GBP 23,000
  • Married Couple/Civil Partnership (Aged 65+) - GBP 26,100 (unchanged)
• The tax credit for dividends received is no longer repaid in respect of any dividends received by companies subject…