Insights

IFRS IASB provides transition option to insurers applying IFRS 17
The International Accounting Standards Board (IASB) has released a narrow scope amendment to the transition requirements in IFRS 17 ‘Insurance Contracts’.
IFRS Alerts IFRS Foundation announce formation of the ISSB
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
IFRS IFRS 8 - Principles in brief
Our ‘Insights into IFRS 8’ series considers key implementation issues and provides interpretational guidance in certain problematic areas.
Human Capital Advisory Have you considered outsourcing your HR?
Now is an excellent time to consider outsourcing your HR function. For most small businesses the past year has been extremely tough.
International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’
The impact of IFRS 17 will be felt by many stakeholders, including, but not limited to preparers of financial statements, those charged with the governance of
Maximising your investment opportunities Private equity in the mid-market
Maximising your investment opportunities
International Financial Reporting Standards Insights into IFRS 13 - Fair value measurement
IFRS 13 ‘Fair Value Measurement’ explains how to measure fair value by providing clear definitions and introducing a single set of requirements for almost all
Tax Alert Changes to economic substance regulations in respect of partnerships
The requirements are being extended to fully meet the commitments given to the EU Code of Conduct Group
IFRS Deferred Tax related to Assets and Liabilities arising from a Single Transaction
The International Accounting Standards Board (IASB) has issued ‘Deferred Tax related to Assets and Liabilities arising from a Single Transaction’ (Amendments
Survey Grant Thornton launches second COVID-19 Business Impact Survey in Jersey
Grant Thornton, in conjunction with the Jersey Chamber of Commerce has launched a follow-up survey
Insolvency practitioner guidelines New insolvency practitioner guidelines launched in Jersey
ARIES has recently produced an updated series of guidance notes for Jersey insolvency practitioners
Women in Business A window of opportunity
For 17 years, Grant Thornton has been tracking the global progress of women in senior management.
UK Budget Response An audience with Rishi Sunak - the 2021 UK Budget – an early critic's appraisal
When Rishi Sunak took centre stage today to deliver the UK budget, it was notable for several reasons.
UK Corporation Tax The UK Corporation Tax (UKCT) regime is upon us. Are you ready?
As another 31 January passes, HMRC have now received the final Non-Resident Landlord ("NRL") returns for non-UK companies that generate income via UK property
Recovery & reorganisation Can prepacks help your business survive?
Many businesses across the world are struggling to come to terms with the economic damage wreaked by Covid-19.
Covid-19 Guernsey’s Covid-19 response
Guernsey’s pandemic response has been admirable, but lockdown will increase pressure on businesses.
Tax Tax residence in Guernsey
Guernsey income tax is due by reference to an individual’s residence position. For most people, residence is based on the actual days spent in Guernsey
Guernsey Tax Changes to Guernsey tax and Social Security
The basis period for those who are considered self-employed and non-employed is changing from 2021.
Business Advisory JFSC launches new approach to collecting company information
Companies of all sizes are facing a change to how they submit their business information to the Jersey Financial Services Commission (“JFSC”).
Acquisition Grant Thornton makes acquisition of Saffery Champness audit business
Grant Thornton Channel Islands has acquired the audit business of Saffery Champness in Guernsey, providing significant opportunities for further growth
Private Equity Firms Private equity in the mid-market: reshaping strategies for 2021
With deals coming back to market, four private equity specialists shed light on current deal flow, where opportunities for private equity firms will lie in the
MID-MARKET BUSINESSES Myth-busting private equity
The economic turbulence caused by the global coronavirus pandemic has left many mid-market business leaders finding access to finance restricted.
MID-MARKET BUSINESSES Getting ready for private equity investment
At a time when access to finance is proving critical to many, mid-market businesses are looking beyond traditional sources and turning to private equity to
Guernsey Budget Response 2021 No more juice in the lemon
“You can’t ask the Guernsey people to squeeze any more out” says Peter Ferbrache in announcing no new taxes and the usual duty hikes also being kept to a small
Capital Gains Tax Tax experts urge people in the Channel Islands to reassess their UK assets
The Office of Tax Simplification recently published its report on the review of Capital Gains Tax. Hear from our expert, Neil Hoolahan, Tax Director at Grant
Income Tax Law Jersey Government approves amendment to Income Tax Law
In August 2020, Jersey’s Treasury and Resource Minister announced a proposal to move all Jersey taxpayers to Current Year Basis (“CYB”).
Human Capital Advisory Put your people first
Employees are the fuel of any organisation, they need to function at their best to enhance future performance.
Mandatory Disclosure Rules Are you fully compliant with the CRS, MDR and DAC6?
In the coming months you will see a lot of activity around the Common Reporting Standard ("CRS"), Mandatory Disclosure Rules ("MDR") and the EU Directive on
IFRS 16 Lease incentives
Granting lease incentives is a common way to encourage a new lessee to sign up to a new lease contract and fill vacant premises. Lease incentives may take
CbCr Jersey Country by Country Reporting
Who does this apply to and what are their obligations?
Corporate Tax Returns Reporting requirements for 2019 corporate tax returns
Revenue Jersey has introduced new and more detailed requirements for those completing the 2019 corporate tax returns.
Insolvency Popular misconceptions of insolvency in Jersey
For those who are involved with, or run struggling businesses with much reduced income, many are unclear what the most important things to consider are and
IFRS Amendments to IFRS 17 and IFRS 4
The International Accounting Standards Board (IASB) has issued ‘Amendments to IFRS 17 ‘Insurance Contracts’’ (the Amendments).
International Financial Reporting Standards Five accounting considerations relating to revenue recognition
As a result of COVID-19 entities are generally expecting to experience significant declines in revenue and decreases in progress of delivery of performance
UK Capital Gains Tax Disposals made by non-UK residents of UK property
Since 6th April 2019, the scopes of UK Capital Gains Tax (“CGT”) and UK Corporation Tax (“UKCT”) have been extended to now include gains realised by non-UK
Cross border tax arrangements Mandatory Disclosure Rules on cross border tax arrangements
In July 2020, we will see the implementation of two new tax regimes, which have the purpose of continuing the efforts towards visibility for tax authorities of
Tax Relief Tax relief available for remote workers during COVID-19 lockdown
There have been number of social distanced conversations where people have asked whether they can claim against their tax bill for the additional expenses that
News Ben Rhodes joins Guernsey’s first Insolvency Rules Committee (IRC)
Ben was recently appointed to Guernsey’s first Insolvency Rules Committee by the Committee for Economic Development.
COVID-19 Business Impact Survey - a Guernsey focus
Grant Thornton are pleased to share the results of their Channel Islands COVID-19 Business Impact Survey - A Guernsey focus
COVID-19 COVID-19 Jersey Business Impact Survey Results
Grant Thornton launched a survey in association with the Jersey Chamber of Commerce to measure how local businesses are coping in the face of the COVID-19
Government Bulletin COVID-19 Government Measures Explained
The Government has launched a series of measures to help you and your business navigate these turbulent times.
Tax Guernsey Company Tax Residence
There have been dramatic changes to the previously long standing Guernsey definition to determine which companies are considered Guernsey tax resident from
Webinar Resilience and Cashflow management
Resilience and Cashflow management, critical elements to get right in a crisis
IFRS Reporting the impact of COVID-19
As the impact of a novel strain of coronavirus (COVID-19) continues to unfold around the world, those individuals responsible for preparing financial
Resilience Wheel Where to focus your business in stressed or distressed conditions
With the rising impact of COVID-19 being seen worldwide, all industries will face significant disruption to their supply chain, workforce and cashflow. The
Global news COVID-19 - The precautionary measures we are taking
We are living in unprecedented times right now and remain vigilant and agile to the changes being enforced by our local government and health authority.
UK Budget 2020 The UK Budget – Was it anything to make a song and dance about?
One had to feel a little bit sorry for Rishi Sunak as he stood to deliver his first Budget. He has only been in office 5 minutes, Brexit in reality has only
Tax The UK tax landscape is changing for Non-Resident Landlords
From 6 April 2020, there will be fundamental changes to the UK Tax treatment of non-resident landlord (“NRL”) companies.
INTERNATIONAL BUSINESS REPORT (IBR) Women in Business 2020
Over the last 12 months, our women in business research has drilled down into the gender diversity stats of mid-market organisations around the world, looking
IFRS Navigating the changes to IFRS 2020
Every year the requirements of International Financial Reporting Standards (IFRS) change. New Standards, Interpretations and Amendments are published that will
IFRS Alerts Classification of Liabilities as Current or Non-current
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
Insolvency Law Reform Guernsey Insolvency Law Reform
On 15 January 2020, the States approved the Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (“the Ordinance”). It is anticipated that
IFRS IFRS News - Q4 2019
In this edition of IFRS News we begin by considering the latest news from the IASB and conclude with IFRS-related news at Grant Thornton.
IFRS IFRS Alerts
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
IFRS IFRS News - Q3 2019
IFRS News is your quarterly update on all things relating to International Financial Reporting Standards.
Falling economic optimism Mid-market companies lower growth expectations amid falling economic optimism
The world’s leading survey of mid-market companies, Grant Thornton’s IBR, once again provides vital insight into the health of the global mid-market. These
IFRS Example Financial Statements 2019
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging. Each year, new Standards and
Tax Cloudy with a chance of complacency
The OECD’s latest proposals on taxing digital business pull back from the radical roadmap put forward in May to something much closer to the January policy
Global news Grant Thornton Channel Islands shortlisted for Firm of the Year
Grant Thornton Channel Islands has been shortlisted for Firm of the Year as part of Grant Thornton’s annual Experience Awards taking place at the British
IFRS IFRS 3 - Definition of a Business
In October 2018, the IASB issued ‘Definition of a Business’ making amendments to IFRS 3 ‘Business Combinations’.
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