Channel Islands: Super-deduction for regulatory compliance technology expenditures of financial services companies
Jersey’s government introduced a 150% super-deduction for certain companies within financial services.
Jersey’s government introduced a 150% super-deduction for certain companies
In the 2024 budget agreed in December 2023, Jersey’s government introduced a 150% super-deduction for certain companies within financial services on expenditures incurred on regulatory compliance technology (so called “RegTech”).
The RegTech super-deduction has been confirmed for the 2024 tax year and may be extended if the scheme proves successful.
The super-deduction is available on both revenue and capital expenditures, and any unused part of the allowance may be carried forward for future use.
Read a June 2024 report prepared by the KPMG member firm in the Crown Dependencies
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