This Is Guernsey

By Ernst & Young partner Graham Parrott

Graham Parrott

LAST week saw Alastair Darling’s first Budget as Chancellor of the Exchequer, although with the increasing significance of the pre-Budget announcements, it didn’t really feel like it.

It may have been his first, but it has been many years since a Budget contained so many issues relevant to the island, something we knew well in advance.

The ‘big three’ – the change to the personal capital gains tax rate, the amendment to days counting for residence purposes (more an issue for us here than in the UK) and the non-dom charge have been covered extensively, before and after the Budget. However, there were many other changes. As is the case with all Budgets, the speech itself was just the beginning.