Advertisement

Directors flee UK for offshores

by isleofman.com 14th December 2009

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.

Posted by isleofman.com
Monday 14th, December 2009 07:33pm.

Popular Articles

Upcoming Events

Bridge Club

Monday is Bridge Day at the Onchan Pensioner's Social Club   We have two bridge clubs that meet on a weekly...
17 Mar

Nobles Parkrun

A free, fun, and friendly weekly 5k community event in Nobles Park.  Walk, jog, run, volunteer or spectate...
22 Mar
View More
Advertisement

You also might be interested in

Stephen Savage joins Quinn Legal’s Corporate and Commercial legal team.

Business

When the clocks sprung forward we lost another precious hour of sleep

Health & Wellness

The GFoGE guide to obstacle races & why should you do one.

Sports & Leisure

Why not take a "Wallaby" walk in the Curragh?

Nature & Wildlife

Hop-tu-Naa is an ancient festival celebrated on the Isle of Man

Visitor Guide

The Isle of Man hosts many traditional ceremonies throughout the year

Visitor Guide