We are delighted to read in today’s budget overview that there is a proposal to stimulate the Open Market by introducing a new lower tax cap for new residents who purchase an Open Market property of at least £1.5 million.
This comes hot on the heels of Jersey’s budget proposal to increase the minimum tax payment for residents who qualify for preferential tax status.
It demonstrates Guernsey’s commitment to the Open Market and all the benefits it brings to the Island.
