On 2 July 2018, the UK and Guernsey signed a new income and capital tax treaty. Once in force and effective, the treaty will replace the existing tax arrangement between the UK and Guernsey. Taxes Covered The treaty covers Guernsey income tax and UK income tax, corporation tax, and capital gains tax. Residence If a company is considered resident in both Territories, the competent authorities will determine the company's residence for the purpose of the treaty by mutual agreement, having regard to its place of effective management, the place where it is incorporated or otherwise constituted and any other relevant...