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In general, all income is assessed on a preceding year basis except income from outside the Island and, in certain circumstances, bank interest which is assessed on an actual basis. If there is a mixture of Guernsey investment income and non Guernsey investment income, then this mixture will be taxed on an actual basis. The tax year is 1 January to 31 December and is referred to as the Year of Charge.
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.
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