10 November 2022News

Document duty changes in Guernsey

Effective from 2 November 2022, buyers of Guernsey residential property need to consider whether they may, or may not, need to pay more document duty tax. Two main changes to the tax have been implemented since the States’ approved budget this month. The first is to...

Directors’ Duties - “Upstreaming” and capital adequacy requirements

On 27 March 2020, the Guernsey Financial Services Commission (“GFSC”) issued a cautionary note in respect of upstreaming (https://www.gfsc.gg/news/article/directors-duties). Upstreaming meaning the flow of resources, such...

Covid-19 and wrongful trading

The impact of Covid 19 on businesses has already been significant, with several high profile businesses in the UK and the Channel Islands ceasing to trade or entering administration.  The sudden drop in custom as a result of...