We’ve heard about changes to VAT sharing and the reciprocal health agreements, but is the UK’s Labour government good for the Isle of Man?
At the weekend, sections of the UK press claimed company directors are fleeing the high taxes of the UK and are choosing to live in the offshores instead.
The number of directors of British companies who’ve registered in Jersey, Guernsey and the Isle of Man has risen by almost 500 in the past year.
According to Philip Beresford who compiles the Sunday Times Rich List, 498 directors and partners of UK companies have changed their addresses to Jersey, Guernsey or the Isle of Man in the last 12 months – and a further 91 UK companies have registered in the islands in the past year.
The moves are blamed on the new 50 per cent top tax rate imposed by Labour in the last budget.
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