21–30 of 211 posts
This one sentence sums up why the Isle of Man exists the way it does. What a puff piece.
Britain/UK/whatever are full of these little places to hide your money. That's all this is. Yet another crowny thing that allows the rich to avoid paying their due in an undemocratic society.
Isle of Man has zero percent corporate tax on (most) money earned outside the Isle of Man, which includes money earned in the UK. If you're a non-resident citizen of the UK, you can deposit your dividends from your Isle of Man company in your UK bank account, tax free. For the time being, IOM companies have GB VAT numbers, and a banking system that integrates seamlessly with the UK one, as well as a postal system (qu…
'Resident but not domiciled' is a very old system in the UK based on things like which country you have purchased a burial plot in. It's kept around because its a handy way to persuade oligarchs to live in the UK: they only get taxed on non UK income if they bring it into the UK, otherwise its tax free. It was reformed several years ago to make it very hard for actual UK people to use. It is very difficult to give up…
This appears to be not true in practice, reading the list of notable people with non-dom status.
Earlier quoted context omitted.
... and the sovereign military bases in Cyprus, which also get mentioned in the treaty discussions and full titles. I wondered how Gibraltar was outside the customs union; at time of UK joining, not only was Spain not in the EU, it was still a fascist dictatorship. https://www.quora.com/Why-did-Gibraltar-opt-out-of-the-EU-Cu...
I don't have an answer to your question but calling that EU is, historically inaccurate at best. "During the 1950s the regime also changed from being openly totalitarian and using severe repression to an authoritarian system with limited pluralism. Spain joined the United Nations in 1955 and during the Cold War Franco was one of Europe's foremost anti-communist figures: his regime was assisted by the Western powers,…
Of course Gibraltar joined the EEC back when the UK did...
Earlier quoted context omitted.
... and the sovereign military bases in Cyprus, which also get mentioned in the treaty discussions and full titles. I wondered how Gibraltar was outside the customs union; at time of UK joining, not only was Spain not in the EU, it was still a fascist dictatorship. https://www.quora.com/Why-did-Gibraltar-opt-out-of-the-EU-Cu...
I don't have an answer to your question but calling that EU is, historically inaccurate at best. "During the 1950s the regime also changed from being openly totalitarian and using severe repression to an authoritarian system with limited pluralism. Spain joined the United Nations in 1955 and during the Cold War Franco was one of Europe's foremost anti-communist figures: his regime was assisted by the Western powers,…
Nitpick: and Luxembourg (https://en.wikipedia.org/wiki/Benelux)
> It’s also not part of the European Union, but is within the EU Customs zone. As opposed to the British Overseas Territory of Gibraltar, which is within the European Union, but outside the EU Customs area (until Brexit, at which point it leaves the EU too). The political status of British territories and dependencies is... _complex_.
"And speaking of finance, the island has no capital gains tax, stamp duty or inheritance tax, making it an enticing prospect for many." This one sentence sums up why the Isle of Man exists the way it does. What a puff piece. Britain/UK/whatever are full of these little places to hide your money. That's all this is. Yet another crowny thing that allows the rich to avoid paying their due in an undemocratic society.
What the author called a 'rumpy' cat is the colloquial term used on the island, along with 'stubbin'. Otherwise the cat is called outside of the island, not surprisingly, a Manx cat. I've seen them scattered around the commonwealth as beloved pets, various tail sizes but probably sadly mutilated for cat shows for a more perfect rump. https://en.m.wikipedia.org/wiki/Manx_cat
The article is correct, but it's also less than relevant for most people outside the UK, unless they live on the Isle of Man. British politics provides endless wells of "Well, actually..." any time anyone says something about the subject. Shades of Mornington Crescent.
I am familiar with Camden and Mornington Crescent area, but "Shades of Mornington Crescent"?
So GP's last sentence can be interpreted as: "There are similarities to the radio game Mornington Crescent".
I often forget how British phrases, cultural references and idioms can be completely inscrutable.
Earlier quoted context omitted.
'Resident but not domiciled' is a very old system in the UK based on things like which country you have purchased a burial plot in. It's kept around because its a handy way to persuade oligarchs to live in the UK: they only get taxed on non UK income if they bring it into the UK, otherwise its tax free. It was reformed several years ago to make it very hard for actual UK people to use. It is very difficult to give up…
> then HMRC will deem you UK domiciled anyway if you ever become UK tax resident This appears to be not true in practice, reading the list of notable people with non-dom status.