Budget delivers some good news on the tax front

Friday 25th March 2011, 2:30PM GMT.

Intertrust Reads Private Clients directors Mark Stone, left and Paul O’Neill. (Picture by Steve Sarre, 1113782)

A COMBINATION of measures contained in this week’s UK Budget could be good news for Guernsey, it has been claimed.

Tax experts at Intertrust Reads Private Clients believe that Chancellor George Osborne made a number of announcements which, taken together, may enhance the island’s attractions.

Developments in a statutory UK tax residence test, further action against UK resident non-domiciled individuals, the retention of the 50% top rate of income tax and a commitment to develop anti-avoidance legislation were of particular note, said director Paul O’Neill.

‘This combination of measures could prove to be good news for the island and may encourage some within the UK to consider settling elsewhere,’ said Mr O’Neill.