Private client—Guernsey—Q&A guide
Private client—Guernsey—Q&A guide

The following Private Client practice note provides comprehensive and up to date legal information covering:

  • Private client—Guernsey—Q&A guide
  • 1. How does an individual become taxable in your jurisdiction?
  • 2. What, if any, taxes apply to an individual’s income?
  • 3. What, if any, taxes apply to an individual’s capital gains?
  • 4. What, if any, taxes apply if an individual makes lifetime gifts?
  • 5. What, if any, taxes apply to an individual’s transfers on death and to his or her estate following death?
  • 6. What, if any, taxes apply to an individual’s real property?
  • 7. What, if any, taxes apply on the import or export, for personal use and enjoyment, of assets other than cash by an individual to your jurisdiction?
  • 8. What, if any, other taxes may be particularly relevant to an individual?
  • 9. What, if any, taxes apply to trusts or other asset-holding vehicles in your jurisdiction, and how are such taxes imposed?
  • More...

Private client—Guernsey—Q&A guide

This Practice Note contains a jurisdiction-specific Q&A guide to private client in Guernsey published as part of the Lexology Getting the Deal Through series by Law Business Research (published: October 2020).

Authors: Carey Olsen—Russell Clark

1. How does an individual become taxable in your jurisdiction?

The principle form of taxation for individuals in Guernsey is income tax. Liability to income tax is determined by reference to residency.

An individual is treated as being 'resident' in Guernsey in any particular calendar year if they spend 91 days or more in Guernsey in that year or alternatively spend 35 days or more in Guernsey in that year and during the four preceding years of charge they have spent 365 days or more in Guernsey.

An individual is treated as being 'solely resident' in Guernsey in any particular calendar year if both resident in Guernsey and not resident in any other jurisdiction spending 91 days or more in that place in that year of charge.

An individual is treated as being 'principally resident' if they spend 182 days or more in Guernsey in that year of charge or they spend 91 days or more in Guernsey in that year of charge and, during the four preceding years of charge have spent 730 days or more in Guernsey or they take up permanent residence in Guernsey in a given year of charge.

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