Guernsey legal and accounting and tax considerations in 2024

Legal obligations in Guernsey

  1. The Companies Law in Guernsey requires that a Guernsey company must keep its accounting records for a period of six years;
  2. A Guernsey company can be exempted from audit requirements if two of the following requirements are met i) annual turnover does not exceed £6.5 million ii) the net balance sheet does not exceed £3.26 million and iii) the company does not employ more than 50 employees;
  3. Although companies in Guernsey enjoy a corporate tax rate of 0%, income from rental property or land in Guernsey is taxed at 20%;
  4. Starting from 2025, large multinational companies operating on the Isle of Man, Jersey and Guernsey will be subject to a 15% tax rate. These three Crown Dependencies have reached a consensus on a “joint approach” to comply with the international tax reforms endorsed by the G20 in 2021.
  5. It is important our Clients’ are aware of their personal and corporate tax obligations in their country of residence and domicile; and they will fulfill those obligations annually. Let us know if you need Healy Consultants’ help to clarify your annual reporting obligations.

Contact us

For additional information on our accounting and tax services in Guernsey, please contact our in-house country expert, Mr. Seth Ochieng, directly:
Director of Client Engagements - Seth
  • Mr. Seth Ochieng
  • Senior Manager, Client Relations
  • Get in touch
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