Guernsey is blessed with some of the finest and best known Accountancy firms in the Western world. Names like KPMG, Ernst
and Young, Deloitte and Touche and PriceWaterhouseCoopers are all based on Guernsey as well as many companies with strong
links to other major accountancy firms.
When moving your assets to the Island it is worth talking to one of these firms or someone with strong links to your existing
accountants to ensure the move takes place smoothly. When you are settled on the Island your accountant can assist you with
acclimatising to the local environment, including income tax and social security. Guernsey is a separate jurisdiction, known
as a Crown Dependency, and as such has many differences from the UK and other jurisdictions.
We are not part of the United Kingdom for example and as such the political parties are not represented on the Island.
Guernsey has its own parliament, in fact one of the world’s oldest parliaments, and we make our own laws which are ratified
by the Queen.
Guernsey is also not part of the European Union and with no VAT on the Island, trading from the Island has its own unique
set of rules that your accountant can help with.
If you operate a Limited company from Guernsey, you will be required to submit annual returns and your Accountant will
be able to help you with those and advise you of what records you need to keep. They can also help you with your personal
returns.
In 2008, a new system called Zero-10, came into effect and brought about substantial changes to the corporate
tax system. For an explanation of these changes we have attached a useful Guide produced by local Accountant, Richard Stapley.
Click on the link to get the full details.
Your accountant will be keeping a close watch on such developments and will be able to advise you of the current situation
as regards taxation at the time you discuss your proposals with them. A full list of Guernsey based accountants can be found
by following the link to the local Yellow Pages.
