Please find below updates from the Revenue Service that may impact you as a company, employer or partnership.
Latest update
The Revenue Service (in consultation with members of the Guernsey Society of Chartered and Certified Accountants and industry bodies where appropriate) are currently reviewing all the published Statements of Practice (SoPs) with a view to ensuring that they are still relevant and are issued in accordance with the Income Tax (Guernsey) Law 1975 (the Law).
The following SoPs cease to have effect from 1 January 2022:
E6 - Payments to Employees Passing Professional Examinations
E40 - Employees on Secondment
Payments for passing professional examinations, which is a direct result of employment, is taxable and should be recorded on quarterly schedules. E40 for employees on secondment does not follow legislation and so this has also ceased.
