Guernsey Publishes Annual Budget for 2021

Guernsey has published the Annual Budget for 2021. Tax measures of the budget include the following:

• A 2.6% increase in Personal Income Tax Allowances, increasing an individual's allowance by GBP 300 to GBP 11,875;
• An increase of GBP 10,000 (to GBP 40,000) in the Income Tax Standard Charge, which is the optional charge for persons treated as resident, but not solely or principally resident, to satisfy their tax liability on non-Guernsey source income or bank interest;
• An increase of 1.5% …