Taxes in the Channel Islands are low and no VAT or capital gain tax is applied. Due to this, expats are attracted to this and move here with it being a tax haven. However, the governing tax law is always changing making it stricter, for this reason, expats moving to the Channel Islands are advised to get advice from a tax expert.
Currently, the personal tax income rate is at 20%, this is also applied to the tax adjusted profits of sole traders.
Exemption thresholds are in place for those on a low income from paying tax and there is no high rate band, inheritance tax or capital gain tax.