Effective from 1 January 2021, the States of Jersey have implemented new stamp duty rates on property purchases.

The new rates affect properties purchased for more than £2 million whilst the rates applicable to properties purchased for less than that remain unchanged.

On properties purchased for between £2 million and £3 million, stamp duty will rise from 6.5% to 7%; for properties purchased for between £3 million and £6 million, the rate will rise from 8.5% to 9.5% and from 9...