I’m relatively familiar with the geography, but why oh why, in an article with this headline and subject, is there not, before anything else, a map indicating the UK and the Isle of Man?
The Isle of Man is not in the UK
31–40 of 211 posts
Re: The Isle of Man is not in the UK
#32UK and tax havens have a long history. It is pretty sad and tells a lot about the quality of information in UK that most British people do not know about ATAD: Anti Tax Avoidance Directive, a EU attempt to crack down on tax havens, which will come in effect on 1st of Jan 2020.
Thanks to Brexit, UK will secure its tax havens, to the benefit of very few and to the detriment of many...
See https://www.taxjustice.net/2019/01/23/brexit-and-the-future-... for some more info.
[Edit: corrected the date]
Re: The Isle of Man is not in the UK
#33Isle 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…
> 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 (quick, which country is 15 Hope Street, Douglas, IM1 1AQ, British Islands?). This makes the sales process to UK and EU companies painless.
I bet that's been used for VAT fraud with EU companies.
Re: The Isle of Man is not in the UK
#34Earlier quoted context omitted.
I am familiar with Camden and Mornington Crescent area, but "Shades of Mornington Crescent"?
He might be referring to the old radio game, Mornington Crescent that aired on BBC Radio 4. Where all the rules are made up, but tensely debated none the less. One of my first website's was an attempt at an online game of Mornington Crescent. > The game consists of each panellist in turn announcing a landmark or street, most often a tube station on the London Underground system. The aim is to be the first to announce…
I’m Sorry I Haven’t A Clue (the panelshow in question) is still going today!
Although the original host sadly passed away a few years ago, and many of the original cast are well into their 80s...
Re: The Isle of Man is not in the UK
#35"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.
How do you separate avoidance of tax with competition between taxation venues? The IOM (and other small jurisdictions) cannot compete with larger countries on manufacturing and other big industry, but their small size and low cost of government allows them to be very competitive with Tax. If an individual is able to move his finances out of a country to a more competitive jurisdiction, isn't' that the fault of the original country rather than the more competitive one?
Re: The Isle of Man is not in the UK
#36[deleted]
Re: The Isle of Man is not in the UK
#37Jesus Christ everyone, just pay some taxes
The Manx do pay tax, up to 20% income tax and 17.5% VAT (sales tax). Yes, it's low, but a little place with no need for military is cheap to run.
There's plenty of countries with lower rates than that: https://en.wikipedia.org/wiki/List_of_countries_by_tax_rates
Re: The Isle of Man is not in the UK
#38Earlier quoted context omitted.
I am familiar with Camden and Mornington Crescent area, but "Shades of Mornington Crescent"?
And "Shades of ${thing}" is shorthand for something like "This reminds one of ${thing}" or "There are similarities to ${thing}" 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.
How can "shades of" be inscrutable in any language? Genuinely curious. I think I picked it up immediately from context.
Re: The Isle of Man is not in the UK
#39UK and tax havens have a long history. It is pretty sad and tells a lot about the quality of information in UK that most British people do not know about ATAD: Anti Tax Avoidance Directive, a EU attempt to crack down on tax havens, which will come in effect on 1st of Jan 2020. Thanks to Brexit, UK will secure its tax havens, to the benefit of very few and to the detriment of many... See https://www.taxjustice.net/201…
Do you mean 1st of Jan 2020?
Re: The Isle of Man is not in the UK
#40> 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_.
"The political status of British territories and dependencies is... _complex_."
Why is how (sadly false) ideas start like Berwick Upon Tweed still being engaged in a multi-generation life and death struggle with the Tsar's Russia:
https://notesfromtheuk.com/2019/02/15/is-berwick-upon-tweed-...