Can I Claim Pension and Retirement Contributions as a Business Expense in Guernsey?
Yes — employer pension contributions to Guernsey-approved pension schemes are deductible against corporate income tax. Personal pension contributions by individuals also attract income tax relief at 20%. Guernsey has its own pension legislation separate from the UK.
What Revenue Service, States of Guernsey says
Employer contributions to approved retirement annuity plans or occupational pension schemes registered with the Revenue Service are deductible as employer expenses. Individual contributions obtain income tax relief under Guernsey's personal tax rules up to prescribed limits.
When you can claim
- Employer contributions to a Guernsey-approved occupational pension scheme
- Employer contributions to a personal pension plan for a director
- Contributions to an international pension plan for internationally mobile staff (subject to approval)
When you cannot claim
- Contributions to unapproved pension arrangements
- Excessive contributions above Revenue Service limits
- Contributions to UK pension schemes for Guernsey-tax-resident individuals without specific Revenue Service clearance
Good to know
Pro tip: Guernsey's pension regime is governed by the Retirement Annuity Trust Schemes (Bailiwick of Guernsey) Ordinance 2009. Schemes must be approved or registered with the Revenue Service. UK stakeholder pensions and SIPPs are not automatically Guernsey-approved. Seek local advice before setting up pension arrangements.
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