Guernsey Disclosure Facility

The Guernsey Disclosure Facility provides an opportunity for eligible customers with assets or investments held in Guernsey to bring their UK tax affairs up to date. The disclosure facility runs from 6 April 2013 until 30 September 2016. 

If you are eligible you will be entitled to limit your disclosure to tax periods ending on or after 1 April 1999 and to pay penalties within prescribed limits. 

The Guernsey government will require all financial intermediaries in Guernsey to contact clients who may be eligible to use the disclosure facility. However it is your responsibility to make sure you submit your application to participate within the time limits above and you should not wait for your financial intermediary to contact you before you do this.

The facility is open to:

  • individuals who have been resident in the UK for UK tax purposes at any time between 6 April 1999 and 31 December 2013
  • companies or any other legal person either incorporated in the UK or resident in the UK for UK tax purposes at any time between 1 April 1999 and 31 December 2013

In each case you must also have held a beneficial interest in ‘relevant property’ at any point in the period specified. ‘Relevant property’ covers a wide variety of assets or interests either held in or administered from Guernsey, ranging from a single bank account to complex trust structures.

Assistance for the Guernsey Disclosure Facility

Taylorcocks’ tax experts can guide you through the disclosure process. Bear in mind that the Liechtenstein Disclosure Facility (LDF) may provide an alternative and more favourable disclosure option.

Contact us for further information and to make an initial confidential no-obligation appointment to discuss your particular situation.