Guernsey, Channel Islands

Individual - Other tax credits and incentives

Last reviewed - 30 June 2023

The Bailiwick of Guernsey offers a number of tax incentives for individuals. They include tax relief in relation to interest on mortgages for a principal private residence. For the year of charge 2023, tax relief available for individuals is GBP 3,500.

Additionally, Guernsey resident individuals who are liable to pay tax on their worldwide income can elect to pay a 'standard charge' of GBP 40,000 (GBP 30,000 prior to 2021). The 'standard charge' is available to offset against any liability arising on Guernsey-source income.

The revised Guernsey-UK DTA (in force from 1 January 2020) in respect of Guernsey income tax clarifies that an individual electing to pay the standard charge remains liable to Guernsey income tax on his or her worldwide income.