beta This part of GOV.UK is being rebuilt – find out what beta means

HMRC internal manual

Double Taxation Relief Manual

Guernsey: Underlying Tax

Documents needed to support the underlying tax claim

The accounts and the notice of assessment to income tax will be required. Profits are assessed on a previous year basis, i.e. profits for the period ended 31 December 2005 form the basis of the assessment on the notice relating to the ‘Year of Charge:’ 2006. Special rules apply for the first three years of trading, the year of cessation and the penultimate year.