Personal Tax Changes for 2015

Mortgage Interest allowance cap has dropped from £25k to £15k (£30k per couple)

First £50 bank interest is now exempt (£100 per couple)

The married persons allowance is now only available if both spouses are resident in Guernsey.

Clarification on Compensatory awards made by Employment & Discrimination Tribunal for unfair dismissal confirms that they fall within the definition of 'emoluments' and are taxable (subject to the £30k exemption for termination payments)

Income from Guernsey land and property is to be excluded from the tax cap.

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