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Guernsey: Personal Taxation

Income Tax

Income tax is charged at 20% on individuals' non-business income. Most benefits given to employees are taxable, but there are some allowances, such as for the use of a company car, moving expenses and interest-free loans. There are no special concessions for expatriates.

There are a number of allowances, including single and married allowances, earned income relief, etc. Interest or other receipts which have already been taxed in Guernsey will be excluded from the tax assessment. For 2013, the single person's tax allowance is GBP9,475. For a married couple, both of whom are under 64 years of age, it is GBP18,950; for a married couple where one partner is over 64 it is GBP20,700; and for a married couple where both partners are over 64 it is GBP22,450.

Tax is due in respect of a year of charge in two installments, by 30th June and by 31st December. However, employees are subject to deduction of tax from wages and salaries under the ETI Scheme (similar to the UK PAYE scheme) covered by the Income Tax (Guernsey) (Employees Tax Installment Scheme) Regulations 1979 as amended.

 

 

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