Potential Changes to requirements for Guernsey Companies

Consultation on the introduction of substance requirements for companies tax-resident in Jersey/Guernsey

In November 2017, Guernsey and Jersey, in common with a number of other jurisdictions, were requested by the EU Code of Conduct Group on Business Taxation (COCG) to give reassurances to EU member states on the issue of lack of a substance requirement for companies tax resident in their territories, and to discuss with the COCG what further steps could better ensure businesses have sufficient economic substance.

The governments of Guernsey and Jersey have now published a consultation document describing the outcome of their discussions with COCG and at a high level the principles of the approach that is intended to apply for companies with accounting periods beginning on or after 1 January 2019.

One of the key activities identified by the European Commission Code of Conduct Group is: Shipping

The findings of this consultation are due to be published later this month.

The Bachmann Group have over 35 staff based in Guernsey.  Their range of experience is second to non.  From staff who have sailed on and been responsible for the operation of ships, experience in ISM, actual DPA's and CSO's.  Trained and certified Crew Managers, Fully qualified accountants, payroll technicians (CIPP qualified) and HR specialists (CIPD certified).  Our award winning software and systems are controlled under our ISO 9001 system and most importantly we have over 40 years experience in doing what we do.

If we look around Guernsey and Jersey, can many of our competitors say the same about expertise and experience?