Guernsey OPEN MARKET PROPERTIES SPRING 2018 with You Every Step of the Way
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Guernsey OPEN MARKET PROPERTIES SPRING 2018 With you every step of the way Our property department has a combined experience of 150 years in the industry and is the largest dedicated team in Guernsey. We will guide you through the process of buying or selling your home and help you get to where you want to be. To find out more, contact: Jason Morgan Davey Le Marquand Partner Partner D +44 (0)1481 741563 D +44 (0)1481 732009 E [email protected] E [email protected] OFFSHORE LAW SPECIALISTS BERMUDA BRITISH VIRGIN ISLANDS CAYMAN ISLANDS GUERNSEY JERSEY CAPE TOWN HONG KONG LONDON SINGAPORE careyolsen.com Guernsey | Welcome 1 A Positive Start to 2018 Features 2 Accessible, Affordable Guernsey Moving to Guernsey had long been a dream for Chloe and Nick Moakes. 5 Pensions Is it time to review your pension plans. 11 Couin de Vacque Stunning contemporary home with frontline sea and island views. 15 Les Caches Hall Open Market sales saw an upturn towards the Matt Birch and Andy Biggins will be supported An exceptional home which sits in end of 2017 and this has continued into 2018. by the eight-strong team in St Helier, and the the midst of four acres of gardens. Activity levels remain high, with an increased agency is looking to recruit additional staff in Otterington number of enquiries across all sectors of the Guernsey over the next six months. 17 A charming house sitting amid market. We believe that Brexit and the ‘Corbyn New Tax Cap Linked to Property Purchase grounds of over one acre. effect’ are contributing to this increased activity, The island continues to offer attractive and many potential new residents report that financial incentives to individuals considering 21 Silver Seas Guernsey seems a natural fit for those coming relocating. As reported in our last edition, a A sizeable property located on the from the UK: political stability, low taxes and a welcome innovation has been the introduction prestigious Fort George. low crime rate, plus the benefits of easy access of a temporary maximum annual tax liability to London and Europe, make the island an Beaucamp De Haut of £50,000. To benefit from this ‘tax cap’ the 22 attractive proposition. An exceptional Guernsey estate. individual must not have been resident in Unquestionably one of the Island’s We are delighted to welcome the Moakes family Guernsey in the preceding three tax years and most substantial homes. to Guernsey, and on pages 2 and 3 you can must have purchased an Open Market property read what attracted them to make the move generating document duty of £50,000 or more. and how they have found their first month here. Should all conditions be met, the tax cap YOUR PROPERTY TEAM Their story shows that affordable family homes applies in the year of arrival and the subsequent can be found on the Open Market and that three tax years. Guernsey is not just for ultra high net worth Other Financial Incentives individuals. Other potential tax benefits for individuals Swoffers Coup Shauna Clapham include the ability for those with UK pension Director The Swoffers team is proud to have sold a funds to receive the pension gross in Guernsey, very prestigious estate, Woodlands, which thus moving the tax burden from the UK completed this year. This sale demonstrates to Guernsey and limiting tax exposure to a confidence in the island and what it has to offer maximum of 20%. Potentially the tax cap would all who live here. apply to reduce the burden further. In addition, Craig Whitman Alliance with D2 Real Estate subject to conditions, new Guernsey residents Director More positive news is that Swoffers have are able to treat distributions of reserves from teamed up with Jersey-based property non-Guernsey companies as capital and consultants D2 Real Estate to provide a pan- therefore not subject to Guernsey income tax. island specialist commercial agency. Swoffers All these financial incentives have served to have been instrumental in assisting D2 Real stimulate interest in the Open Market and are Sophie Ephgrave Director Estate with their expansion and this alliance undoubtedly worthy of further exploration for stands to benefit our clients, who can now those considering a move. draw on the expertise of the largest commercial property consultancy in the Channel Islands. Alexandra Haining Based within our offices in St Peter Port, Open Market Business Development Craig Whitman Director Sue Nicolle Open Market Lettings Negotiator Ann’s Place St. Peter Port Guernsey GY1 2NU Channel Islands | [email protected] www.youtube.com/swofferstv Hayley Piriou DISCLAIMER: This publication is intended to be both informative and entertaining. It contains material from various contributors, and advertisers, as well Open Market as ourselves. Please note that the statements and opinions of our contributors and advertisers must not be taken to be those of Swoffers. Swoffers cannot accept and disclaims any liability for the same. Some images courtesy of VisitGuernsey. Cover Image: Sunset, Lihou Causeway, Guernsey, Stuart Hamon. Sales 2 Accessible, Affordable Guernsey... Chloe and Nick Moakes were familiar priced at under a million pounds ‘We came Chloe and Nick have two young children, with Guernsey so when they began and looked at quite a few houses, then we nine-year-old George and Beatrice, 8. ‘It was to explore the possibility of leaving walked into this place and said, “Wow, this is all centred around the children,’ says Chloe. London, the island was high on their list the one.” It’s perfectly located, five minutes’ ‘Guernsey really ticked the boxes because of considerations. As Nick says: ‘If you walk to the kids’ schools. It’s got plenty of there’s a great finance sector and lots of compare Guernsey with anywhere in the space, a garden and off-street parking opportunities for school and university UK you might choose to move to, there’s - and lo and behold we’re here.’ leavers.’ Nick adds: ‘As well as financial services nowhere that can compare to here that you’ve got lots of companies starting up in has the history, the culture, the things technology and all kinds of things, so for to see, the beautiful countryside. They our kids and the kids who live on the island all have some of this but Guernsey has generally it’s got a huge amount to offer.’ got it all in spades and I think that’s what Career-wise, the move has been smooth for makes it so attractive.’ However, feeling Nick, who holds a senior client relationship that the island was ‘just a bit out of our role within financial services. ‘It’s working reach financially’, the couple looked into fine – I go back to London for meetings Cornwall, Spain and France, weighing up and the technology is so good here, I their options regarding jobs, education, plug my computer in and it’s like being housing and lifestyle. in the office.’ Chloe has a background in Then some property details caught the Moving to Guernsey had office management, latterly working in the couple’s attention. ‘A house came up in long been a dream for education sector. Having spent years juggling Guernsey that seemed perfect for us and Chloe and Nick Moakes, work and childcare, she is keeping an eye out it was within budget, whereas previously which they were able for a suitable term-time position. many similar houses hadn’t been, and that’s The work/life balance that is possible in what really sowed the seed,’ explains Chloe. to realise when they Guernsey has been a major change, as Nick Although they didn’t proceed with that moved to Guernsey in explains: ‘It’s a different lifestyle here because particular property, Chloe and Nick found a January 2018. you can work as hard as you would have great choice of houses on the Open Market Guernsey | Living the island life 3 done in London but everything is so close, you like me are wondering where to move to, ‘You read about the Open Market and can go out and meet your family on the beach Guernsey is an option because there’s lots here it can sound a bit scary, but actually it after work, have a meal somewhere and go and with the ability to travel.’ doesn’t need to be. chat to friends. If you’re working in a major city, Having been on the island for a month, the There are two markets but it’s very easy when it’s time to leave people want to get on Moakes are already appreciating the sense to navigate if you’ve got the support a train and go home, but here you don’t have of community. ‘I’ve noticed that companies of someone like the estate agent who’s helping you,’ says Nick. ‘Swoffers have been brilliant, they really helped us. There was great information sharing - because we were buying remotely, we didn’t understand the laws but Craig became our representative if you like. It was far more than just buying a house, he really helped us to realise the dream,’ Chloe concurs. One potential measure proved to be unnecessary: ‘One of the things I found quite amusing was when we first came over I said we must get an alarm system put in, and everybody laughed and said, “You’re from London, aren’t you?”’ says Nick. that pressure because nobody’s got a long sponsor things and get involved – you see a lot commute.’ This contrast hasn’t come at a price, of amazing things that are so switched on, that I “Swoffers have been as the island has first-rate restaurants, bars and didn’t see in the UK.