Bookkeeping in Guernsey: bank feeds, receipts and sterling
Guernsey businesses keep their books in pounds sterling, and Finn works in pounds with dates in the DD/MM/YYYY format you already use. Finn reads your bank transactions, matches them to invoices and receipts, and puts each one in the right category. You review the exceptions rather than keying in every line.
Bank data comes in through CSV or PDF statement import, and through the direct connections to Mercury, Wise, Stripe and Revolut. Receipts can reach Finn by WhatsApp, email, Telegram or Slack. Photograph a receipt on your phone, send it to Finn, and it is read, filed and matched to the payment without any retyping.
- Categorises bank transactions in pounds sterling
- Reads receipts sent by WhatsApp, email, Telegram or Slack
- Imports bank statements as CSV or PDF
- Connects to Mercury, Wise, Stripe and Revolut
15 OctThe ETI and social security return lands on 15 Oct. Finn has the figures ready from the ledger two weeks before, with the source beside each box.
No VAT or GST in Guernsey: what that means for your books
Guernsey does not charge VAT, GST or any equivalent consumption tax. There is no VAT registration, no VAT return and no VAT on goods or services supplied in Guernsey. Unlike the Isle of Man and Jersey, Guernsey is not in a customs union with the UK, which is why the island has no VAT.
So Finn does not run a VAT return for a Guernsey company, and you will not see UK VAT prompts in your dashboard. Goods brought into Guernsey from the UK or elsewhere may carry Guernsey customs duty on certain items such as tobacco, alcohol and fuel. If you sell to customers elsewhere, tell Finn where they are, because the rules of the customer's country may still apply to them.
Guernsey company tax return and the 0% rate
Guernsey has three company tax rates. The standard rate is 0% and covers most companies. A 10% rate applies to regulated financial services such as banking, insurance, fiduciary and fund management. A 20% rate applies to income from Guernsey real estate, large retail with more than £500,000 profit from regulated activities in Guernsey, and cannabis activities.
A company tax return must be filed with the Revenue Service by 30 November following the year of charge, even when the rate is 0% and no tax is due. The year of charge is the calendar year in which the accounting period ends. Finn prepares the figures from your books and you file through the Revenue Service.
- 0% standard rate for most companies
- 10% for regulated financial services
- 20% for Guernsey real estate income, large retail and cannabis
- Return required even when no tax is due
Social security and ETI payroll in Guernsey
Guernsey employers run ETI (Employer Tax Instalment) withholding, deducting income tax from pay each period using the tax codes the Revenue Service issues. Income tax is a flat 20%. Class 1 social security for 2025 is 6.6% for the employee and 6.9% for the employer, between a lower earnings limit of £8,268 and an upper limit of £165,048 a year.
Employers file social security returns quarterly, with return and payment due within 15 days of each quarter end on 31 March, 30 June, 30 September and 31 December. Finn calculates the contributions from your payroll records and reminds you of each date. You check the numbers, then submit the return and payment to the Revenue Service yourself.
Guernsey Registry annual validation and beneficial ownership
Every Guernsey company must file an annual validation with the Guernsey Registry. It confirms your registered office, directors, shareholders and company details, and the fee is paid at the same time. Missing it brings escalating penalties and, in the end, possible strike-off. Finn tracks the date so it does not catch you out.
Companies must also keep a register of beneficial ownership and file it with the Registry. A beneficial owner is generally an individual with 25% or more of the shares or voting rights, or significant control. Companies carrying on relevant activities such as banking, fund management or holding company business must show economic substance. Pure trading, SaaS and consultancy generally fall outside it.
- Annual validation with the Guernsey Registry
- Register of beneficial ownership kept up to date
- Economic substance return for relevant activities
- Company numbers are five digits
Self-employed in Guernsey and personal tax returns
Self-employed people in Guernsey pay Class 2 social security at 11.5% on earnings between the lower and upper limits, and file quarterly social security returns. Personal income tax is a flat 20% with a standard personal allowance of £13,025 for 2025. There is no capital gains tax, no inheritance tax and no wealth tax.
The personal tax return for the calendar year is due by 30 November of the following year, and tax for the year is due on the same date. The 2025 return is due by 30 November 2026. Finn keeps your income and expenses in order through the year, so the figures for your return are ready when you sit down to file.
Switching from Xero or Sage to AccountsOS in Guernsey
Most Guernsey businesses use Xero or Sage today. Moving across does not mean starting again. Export your chart of accounts, contacts, invoices and transactions as CSV files from your current software and upload them. Finn reads the columns, works out what each one is and maps them onto your new books.
You keep your data. Everything in AccountsOS can be exported as CSV, so there is no lock-in if you ever want to move again. Run the two systems side by side for a month if you like, check Finn's work against what you had, and close the old subscription when you are comfortable.
- Export CSV from Xero or Sage
- Finn maps the columns, no per-software importer
- Your data stays exportable as CSV