The cost of living in Guernsey is considerably higher than in the UK, according to a report for the States. It shows that most residents need a 20-30% higher budget to achieve a minimum standard of living.
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The cost of living in the Channel Islands is 'generally' more expensive compared to the UK or other nearby EU countries.
Guernsey resident individuals pay income tax at a flat rate of 20%. The personal income tax year is the calendar year and tax returns must generally be filed (either electronically or on paper) by the filing deadline for the relevant tax year. The 2022 Personal Tax Returns must be filed by 29 February 2024.
Relocating to Guernsey | Swoffers. The idyllic pace of life, stunning scenery, pleasant climate, low unemployment, low crime and low tax rates are just a few of the reasons why approximately 60,000 people are proud to call this beautiful island their home.
Currency / MoneyMajor credit cards are widely accepted throughout the Islands. Some businesses will accept euros, although change will generally be given in sterling.
Anyone is able to be in Guernsey for up to 90 days within a 12 month period (starting from their first arrival into the island of Guernsey) without needing to hold a Permit or Certificate. This allows you to stay in tourist registered accommodation or stay as a guest in someone's house where they are living.
Individuals are considered 'principally resident' if they are in Guernsey for 182 days or more or 'solely resident' if they are in Guernsey for 91 days or more and not in any other jurisdiction for 91 days or more.