Insights

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 in Guernsey

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 (IFRS) 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 The 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’.

Acquisitions Grant Thornton expands in Guernsey with the acquisition of Price Bailey

Grant Thornton expands in Guernsey with the acquisition of Price Bailey

INTERNATIONAL FINANCIAL REPORTING STANDARDS IFRS Example Interim Consolidated Financial Statements 2021

Each year, new Standards and amendments are published by the International Accounting Standards Board (IASB) with the potential to significantly impact the

IFRS Alerts IASB extends COVID-19 rent related concessions

The International Accounting Standards Board (IASB) regularly publishes new International Financial Reporting Standards (IFRS)

Move from NRL to UKCT The move into UK Corporate Tax for owners of UK property investments

Up until 5 April 2020, non-UK resident entities, which owned UK property investments were taxable on their UK rental income under the Non-Resident Landlord

Common Reporting Standard Common Reporting Standard (“CRS”) Audits – Are you ready?

As part of their commitment to adhering to the OECD’s requirements under CRS, both the Jersey and Guernsey authorities are required to undertake audit

World’s Most Attractive Global Employers

Insights