Economic Substance – impact on Guernsey investment managers

Substance. Guernsey’s recently crowned ‘Investment Fund Lawyer of the Year’ Gavin Farrell and Grant Thornton’s tax expert Mark Colver join Aspida’s Richard Bray and consultant Stephen Cuddihee to discuss all matters substance.

All Guernsey Fund managers fall within the scope of the law where they have income in relation to their fund management activities. The Substance Regulations require that Fund Management companies are “directed and managed” in Guernsey and the panel will examine the Substance Regulations vs current best practice to look at how Guernsey has been complying with economic substance requirements for over 30 years.

As the Substance Regulations will affect Guernsey Fund Managers for tax periods commencing on 1 January 2019, in this webinar we consider what the impact has been on Guernsey Fund Managers and businesses whether the COVID-19 pandemic highlighted any issues that need to be addressed and whether any changes to governance procedures may be required.