Guernsey

United Kingdom | 2 Mar 12

UK proposals to force banks to ring-fence their high-street banking operations from their investment banking arms in order to protect them from possible future banking crises have sparked concerns in the offshore banking industry, over the possible changes that these plans could force on the offshore subsidiaries and branches of British banks.

North America | 29 Feb 12

A FATCA partnership with the US may not be as frightening as it may sound at first to those in Guernsey and similar other smaller jurisdictions, a KPMG Guernsey tax expert says, noting that, in terms of scope and commitment, it could be relatively similar to the EU Savings Tax Directive (EUSD).

Europe | 29 Feb 12

Total deposits held with Guernsey banks at the end of December fell almost 6%, or by £6.7bn, from the end of September, and 3.1% from a year earlier, as two banks surrendered their licences and the low interest rate environment continued to put people off of keeping money on deposit.

North America | 28 Feb 12

Guernsey’s income tax authorities are looking at whether the island should join the UK, France, Germany, Italy and Spain by joining forces with the US to exchange information on individuals with accounts within its borders, a Guernsey newspaper reported yesterday.

Retirement | 31 Jan 12

As the door shuts on the eight-week period during which HM Revenue & Customs was accepting comments on its plans to amend its QROPS regulations, Guernsey QROPS providers are pinning their hopes on the introduction of a new pensions scheme that would be open to islanders and non-residents alike.