Saffery Champness tax experts, left to right, Pete Hackleton, Julian Hedley and David Lemon spoke to a seminar about the possible pitfalls of the new image rights legislation. (Picture by Adrian Miller, 1189563)

GUERNSEY is well placed to be a jurisdiction of choice for structuring the affairs of sports stars and celebrities, according to leading UK-based tax advisers.

That position has only been enhanced by the recent States decision for the island to go ahead and become the first jurisdiction in the world to introduce specific image rights legislation and its own register.

But while that is positive and would set Guernsey apart from its competitors, Julian Hedley, partner in the sports and entertainment group at Saffery Champness in London, said it was crucial that the new legislation was considered in conjunction with recent tax decisions in the US concerning withholding tax on endorsement income.

‘You have got to get it right and cannot look at the intellectual property rights in isolation. It’s about looking at the tax implications, especially any withholding tax issues.’

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