To print this article, all you need is to be registered or login on Mondaq.com.
In January each year individuals are required to complete a tax return giving details of the amount and source of income and deductions claimed therefrom for the previous calendar year, together with a claim for personal relief for the current year. Based on this return, an assessment is raised setting out the tax that is due for the relevant tax year. The tax shown on the assessment is due in equal instalments on 30 June and 31 December within the relevant year and deductions under the ETI scheme are allowed as a credit against these instalments.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
POPULAR ARTICLES ON: Wealth Management from Guernsey