Tax Regime

Guernsey 'resident only' individuals are taxed on their worldwide income or they can elect to be taxed on their Guernsey source income only and pay a standard annual charge of £30,000 in 2016. No further tax will be due on Guernsey source income.

Individuals have a tax-free allowance of £9,675. Income tax is levied on income in excess of this amount at a rate of 20%, with generous allowances.

Individuals can pay 20% tax on Guernsey source income and cap the liability on non-Guernsey source income at a maximum of £110,000 OR cap the liability to worldwide income at a maximum £220,000.

Any individual resident in Guernsey for 182 days or more is considered principally resident and taxable on their worldwide income.