Individuals may need to take advice on the timing of their move to Guernsey particularly with regard to:
- the date of departure from the territory where they were formerly resident to the end of the tax year in that territory, in order not to be assessed for subsequent periods unnecessarily; and
- acquiring a new residence status in Guernsey.
Care is required to ensure that the immigrant does not prematurely acquire a "resident but not principally resident" status, on the basis of which he will be assessed not only on Guernsey source income but also on all remittances of income to the Island. For these purposes accumulated income can be traced through capital assets and the only safe course is to take local professional advice before taking any steps to move to the Island.
