Increase in tax paid by richest residents

There are around 250 high value residents on the island, the government says

The amount of tax paid by some of the wealthiest people in Jersey has risen more than sixfold in four years.

Data provided by the States shows members of the High Value Resident (HVR) scheme contributed £16.8m in tax in 2023, most of which was paid on a rate of 20%.

The figure is up on the £2.6m raised by the government in 2019.

HVR islanders currently pay £170,000 tax on the first £850,000 they earn and then 1% on any worldwide income above it. Other residents pay a maximum of 20%.

The scheme, which has been running since the 1970s, gives people the opportunity to buy or lease property in the island providing they meet certain criteria and have their application approved by the chief minister.

The government's 2025 estimates show there are about 250 HVR living in the island.