Taking up residence in Guernsey provides various tax and social security benefits:

No capital gains tax, a flat rate of income tax at 20%, and generous tax relief and allowances that will often reduce the effective rate for Guernsey taxpayers well below 20%.

Social insurance contributions are lower in Guernsey, in most cases, than the UK. There are favourable arrangements in respect of specialist treatment for Guernsey residents and admission to the general hospital is paid for by the authorities, as are most investigations such as X-rays and pathology tests. It is necessary to pay to see a General Practitioner, although the authorities provide a partial refund and prescription items are also highly subsidised.

There are areas where relief can be less generous or limited, in respect of personal pension provision, for example. Of course, the specific tax affairs of all people are different and such financial matters should be investigated thoroughly. Cooper Brouard will be pleased to recommend a number of professional advisors who are able to offer assistance on the broadest range of tax and financial issues.

No inheritance taxes or estate duties, other than a relatively small fee payable to the local ecclesiastical court for grant of Probate on local wills.

Current reciprocal arrangements in place between the Guernsey and the UK authorities allow the transfer of pension funds, annuities and trust funds from a high tax regime to a relatively lower tax regime.

No local value added tax or purchase tax, and because Guernsey is outside the European Union for tax purposes, value added tax is not charged in the UK for goods transported to Guernsey or on most services supplied to people living in Guernsey.