Insights

Law Changes Changes to Guernsey’s insolvency regime 08 Dec 2022
The Companies (Guernsey) Law, 2008 (Insolvency) (Amendment) Ordinance, 2020 (the “Ordinance”) and the Companies (Guernsey) (Insolvency Rules) Regulations, 2022
UKCT UK Corporate Tax changes 23 Nov 2022
Non-UK resident companies which are subject to UK Corporate Tax (“UKCT”) through their UK property rental business should now be fairly well adjusted to this
UK Budget The Autumn Statement - Crisis Management 17 Nov 2022
Jeremy Hunt stood up and presented his Autumn Statement with high inflation, high interest rates, lower living standards and a very sluggish economy in the
IASB IASB amends IAS 1 for long-term debts with covenants 08 Nov 2022
The International Accounting Standards Board (IASB) has issued amendments to IAS 1 ‘Presentation of Financial Statements’ that aim to improve disclosures about
IFRS IFRS Example Interim Condensed Consolidated Financial Statements 2022 12 May 2022
The preparation of financial statements in accordance with International Financial Reporting Standards (IFRS) is challenging.
Women in Business 2022 Opening the door to diverse talent 08 Mar 2022
Grant Thornton’s Women in Business report 2022: How businesses can open the door to diverse talent
Jersey Insolvency Law update Vital improvements to Jersey’s insolvency law 16 Feb 2022
Jersey’s insolvency regime has remained largely unchanged for a number of years.
IFRS Navigating the changes to IFRS 2022 31 Jan 2022
This publication is designed to give preparers of IFRS financial statements a high-level awareness of recent changes to International Financial Reporting
IFRS IASB provides transition option to insurers applying IFRS 17 15 Dec 2021
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 08 Nov 2021
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
IFRS IFRS 8 - Principles in brief 19 Oct 2021
Our ‘Insights into IFRS 8’ series considers key implementation issues and provides interpretational guidance in certain problematic areas.
International Financial Reporting Standards Implementation of IFRS 17 ‘Insurance Contracts’ 17 Aug 2021
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 01 Jul 2021
Maximising your investment opportunities
International Financial Reporting Standards Insights into IFRS 13 - Fair value measurement 25 Jun 2021
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 13 May 2021
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 12 May 2021
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 29 Apr 2021
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 15 Mar 2021
ARIES has recently produced an updated series of guidance notes for Jersey insolvency practitioners
Women in Business A window of opportunity 11 Mar 2021
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 03 Mar 2021
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? 01 Mar 2021
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? 11 Feb 2021
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 05 Feb 2021
Guernsey’s pandemic response has been admirable, but lockdown will increase pressure on businesses.
Tax Tax residence in Guernsey 16 Nov 2022
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 14 Dec 2020
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 04 Dec 2020
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 01 Dec 2020
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 26 Nov 2020
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 25 Nov 2020
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 25 Nov 2020
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 17 Nov 2020
“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 12 Nov 2020
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 09 Nov 2020
In August 2020, Jersey’s Treasury and Resource Minister announced a proposal to move all Jersey taxpayers to Current Year Basis (“CYB”).
Mandatory Disclosure Rules Are you fully compliant with the CRS, MDR and DAC6? 19 Oct 2020
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 12 Oct 2020
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 12 Oct 2020
Who does this apply to and what are their obligations?
Corporate Tax Returns Reporting requirements for 2019 corporate tax returns 06 Oct 2020
Revenue Jersey has introduced new and more detailed requirements for those completing the 2019 corporate tax returns.
Insolvency Popular misconceptions of insolvency in Jersey 22 Jul 2020
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 30 Jun 2020
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 18 Jun 2020
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 03 Jul 2020
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 17 Jun 2020
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 16 Jun 2020
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) 12 Jun 2020
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 29 May 2020
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 18 May 2020
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 06 May 2020
The Government has launched a series of measures to help you and your business navigate these turbulent times.
Tax Guernsey Company Tax Residence 08 Jan 2020
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 15 Apr 2020
Resilience and Cashflow management, critical elements to get right in a crisis
IFRS Reporting the impact of COVID-19 06 Apr 2020
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 30 Mar 2020
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 19 Mar 2020
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? 11 Mar 2020
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 09 Mar 2020
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 03 Mar 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 06 Feb 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 29 Jan 2020
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
Insolvency Law Reform Guernsey Insolvency Law Reform 15 Jan 2020
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 10 Dec 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 01 Oct 2019
The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS), Interpretations of Standards
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