Deferring tax on real property payments
Government rent deferrals and renegotiations


This article outlines the real estate-related financial support available to businesses in Guernsey that have been adversely affected by measures introduced to manage the spread of COVID-19.(1)

Deferring tax on real property payments

To assist with cash flow in the short term, businesses can apply to defer tax on real property (TRP) payments until July 2020.

Criteria
This option is available to businesses which are suffering financial difficulty as a result of the COVID-19 pandemic.

How to apply
Requests to defer TRP will be treated on a case-by-case basis. Requests should be emailed to '[email protected]' using the subject line "TRP Deferral" and should include reasons for the request. Someone will respond to emailed requests as soon as possible.(2)

Government rent deferrals and renegotiations

Rent for Q1 and Q2 may be deferred until after 30 June 2020 where the government, or a government-owned company, is a landlord for a local business. This covers business rents only and not residential property rents.

Criteria
This option is available for business tenants which are suffering financial difficulties as a result of the COVID-19 pandemic.

How to apply
Requests for rent deferral will be treated on a case-by-case basis. Requests should be emailed to '[email protected]' using the subject line "Rent Deferral" and should include reasons for the request. Someone will respond to emailed requests as soon as possible.(3)

For further information on this topic please contact Rachel Richardson, Mathew Newman or Charlotte Ward at Ogier by telephone (+441481 721 672) or email ([email protected], [email protected] or [email protected]). The Ogier website can be accessed at www.ogier.com.

Endnotes

(1) This article focuses on the support available to businesses with regard to real estate. For information on all available support, please see "COVID-19: government financial support for businesses".

(2) Any queries should be emailed to '[email protected]'. Government guidance is available here.

(3) Any queries should be emailed to '[email protected]'. Government guidance is available here.