The Government of Guernsey has published the Budget 2025. The main tax-related measures of the budget are summarized in the Budget 2025 document as follows:
- A 2% increase in the individual standard rate of income tax from 20% to 22% for a limited period of two years raising additional revenues of £34m per annum.
- An increase of £1,100 in the Personal Income Tax Allowance to £15,000 which reduces revenues by £6.2m per annum.
- An increase in all other allowances in line with the central inflat…