Is Guernsey a tax-free island?


Is Guernsey a tax-free island? Guernsey resident individuals pay income tax at a flat rate of 20%. The personal income tax year is the calendar year and tax returns must generally be filed (either electronically or on paper) by the filing deadline for the relevant tax year. The 2022 Personal Tax Returns must be filed by 29 February 2024.


Is it expensive to live in Guernsey?

The cost of living in Guernsey is considerably higher than in the UK, according to a report for the States. It shows that most residents need a 20-30% higher budget to achieve a minimum standard of living.


Is shopping tax free in Guernsey?

Guernsey is an English-speaking island, located in the English Channel between France and Great Britain. The advantage with shopping here is that Guernsey, as with all of the other Channel Islands, is exempt from VAT.


Why is there no tax in Guernsey?

Guernsey is self-governing and self-funding. The island's legislature determines its own laws and raises its own taxes. The personal income tax rate for Guernsey residents is 20% after deduction of personal allowances.


Is Jersey or Guernsey tax free?

About Jersey tax You'll pay tax on income, goods and services, but there's no capital gains or inheritance tax. The maximum personal tax rate is 20%, and we also have exemption thresholds and a marginal rate of tax to protect people on lower incomes.