Accountant reflects on Liberty House deal

The Island's financial sector has a lot to be proud of in providing an attractive base for corporate entities - while making efforts to meet international standards of tax transparency.

That view from Douglas based chartered accountancy firm Harding Lewis, in light of news that a multi-billion pound company set to save parts of the UK's steel industry is registered here.

Liberty House, headed by tycoon Sanjeev Gupta, looks set to make a bid for assets from ailing Tata Steel in the next month.

It has emerged that its parent company Liberty House UK, is registered to an office in Parliament Street, Ramsey.

Harding Lewis director Andrew Gerrard told Manx Radio the Island's stable political and legal environment and strong regulatory regime can provide a business-friendly environment for the ownership vehicle - or parent company - of a large enterprise, whose trading operation is based elsewhere. 

Mr Gerrard made professional observations about company structures in general - his firm has no association with Liberty House or Tata.  

We asked Mr Gerrard why a parent company might locate in the Isle of Man: