" Darling's Isle Of Man Must Be On Some Other Planet "

[bluemonday]

Agreed.

Fine post firmly based in reality as opposed to self delusion.

Should be as AT says, required reading in the wedding cake.

[Albert Tatlock]

Warning of US threat

 

 

Please get him on TV and Radio fighting our corner someone...and no I don't mean on Woollies xmas tv ads.

 

This is the knowledegable, astute and ariticulate presenter we need to be seeing more of during this crisis.

[triskelion]

Nay, Tynwald members are no doubt aware the situation is grim.

 

What they actually need to be reading is realistic solutions.

[pongo]

Please get him on TV and Radio fighting our corner someone...and no I don't mean on Woollies xmas tv ads.

 

This is the knowledegable, astute and ariticulate presenter we need to be seeing more of during this crisis.

 

I disagree that he would be right for the role. Beards do not work on TV or in politics.

 

The TV beards that I can think of have either been vaguely unlikable figures (the awful ex talk radio / tabloid idiots - James Whale, Mike Dicken, Gary Bushall etc), or else, round - the - fire pedants and whistlers (Roger Whitticker, Richard Stilgoe).

 

I realize this might seem like an incredibly flippant thing to say but I am absolutely serious. How the teams looks and sounds absolutely matters in terms of TV (as wrong as that is).

 

Your ideal PR team would be well spoken, multi lingual, sharpish, 40ish, mixed sex, probably mixed race people - preferably with degrees from very good universities. Plus a friendly Ken Clarke type who can talk off the cuff.

[%age]

Nice edit/addition.

 

Irrespective of what our current legal jurisdictional status is, it is not an impossible, and indeed relatively straightforward task to have a debtor's assets to be frozen worldwide.

 

(IANAL but that is certainly taken from recent legal advice)

[jimbms]

Warning of US threat

 

 

Please get him on TV and Radio fighting our corner someone...and no I don't mean on Woollies xmas tv ads.

 

This is the knowledegable, astute and ariticulate presenter we need to be seeing more of during this crisis.

Why whenever I see this picture do I feel hungry for fried chicken, baked beans, coleslaw and a bottle of pepsi ?

[bluemonday]

Small item in Sunday Telegraph.

More than 10,000 Icesavers depositors have been paid a total of £250 million by the UK FSCS less than 6 weeks after it went bust.

Hopes to pay most of the 200,000 affected British savers by the end of the month.

[Albert Tatlock]

I disagree that he would be right for the role. Beards do not work on TV or in politics.

'Beards don't work? - My arse!'.

[oldmanxfella]

I'm afraid we're headed back to the late 80s here, and getting there very rapidly and whether the IMF, the OECD or the USA think we meet international standards is totally irrelevant. People don't want to do business with us and that fact is going to translate into jobs and the real economy in the next 6 months.

 

I've heard that statement several times this week both on and off Island and I have to say that there is a reasonable chance of it happening. I don't think many of those in the finance sector today remember what it was like - there is a big re adjustment due following 15 years of complacency and over spend. And that applies to government as well as the commercial world.

[cheeky boy]

IOM mentioned as being on the local section of the politics show - on BBC1 now (started 12pm)

 

 

Also mentioned in Bremner Bird & Fortune tonight.

 

Not in positive way, naturally

[Sebrof]

It depends on what the definition of 'tax haven' is. If it is any kind of low tax area, then I suppose that is what we are. But, in the past, it used to refer to the tax treatment of individual residents, e.g. Monaco which has a favourable individual tax regime. But is that really the case for the IOM and is it any worse than the hitherto favourable treatment by the UK of non-doms?

 

It is an emotive term without a strict definition and seems to carry with it dubious associations. As such it is not a helpful term to use and certainly one which we shouldn't be using to describe ourselves.

 

For the record, providing we can hold our head up in terms of regulation and transparency, as we are told by the big boys like OECD that we do, then I see no shame in that being our niche.

 

The phrase "tax haven" suggests two things:

 

1 Low taxes

 

2 The ability to obscure the fact that a person resident in another country has investments in the "tax haven", so that he escapes the gaze and grasping fingers of the taxman in his own country.

 

Clearly, the IOM has low taxes in relation to the UK and many other countries. And equally clearly, there would be little advantage in UK residents (for example) putting their money off-shore if their own tax authorities were aware of the fact.

 

So, given that the IOM is host to quite a lot of foreign-owned cash, I suspect that, despite all the claims of transparency, both the afore-mentioned conditions for being considered a tax haven have been met by the IOM.

 

Correct me if I am wrong.

 

S

[Gladys]

Anecdotal but true, and to illustrate I use one example, but I know others. I'm sure many of us do of course.

 

A person was going to be hit by a huge Tax bill in UK. Huge. Fighting, kicking, screaming they didn't want to pay it.

 

A long weekend on the Isle of Man sorted that little one out, thank you.

 

Isle of Man............. £650,000 (a large figure, whatever it was)

United Kingdom....... nil

 

 

 

The Isle of Man is, is, is a tax haven.

 

 

For the purposes of balance, it also has lovely friendly people and sandy beaches. And a famous motorbike race.

 

So in a weekend he changed his place of residence and thus his tax bill? Anecdotal but I think a little truth has been left out in the telling.

[Gladys]

It depends on what the definition of 'tax haven' is. If it is any kind of low tax area, then I suppose that is what we are. But, in the past, it used to refer to the tax treatment of individual residents, e.g. Monaco which has a favourable individual tax regime. But is that really the case for the IOM and is it any worse than the hitherto favourable treatment by the UK of non-doms?

 

It is an emotive term without a strict definition and seems to carry with it dubious associations. As such it is not a helpful term to use and certainly one which we shouldn't be using to describe ourselves.

 

For the record, providing we can hold our head up in terms of regulation and transparency, as we are told by the big boys like OECD that we do, then I see no shame in that being our niche.

 

The phrase "tax haven" suggests two things:

 

1 Low taxes

 

2 The ability to obscure the fact that a person resident in another country has investments in the "tax haven", so that he escapes the gaze and grasping fingers of the taxman in his own country.

 

Clearly, the IOM has low taxes in relation to the UK and many other countries. And equally clearly, there would be little advantage in UK residents (for example) putting their money off-shore if their own tax authorities were aware of the fact.

 

So, given that the IOM is host to quite a lot of foreign-owned cash, I suspect that, despite all the claims of transparency, both the afore-mentioned conditions for being considered a tax haven have been met by the IOM.

 

Correct me if I am wrong.

 

S

Low taxes, I grant you. But, as far as I am aware, UK residents must declare offshore investments so if they are not declared there is obfuscation, but not by the IOM, which has an information sharing agreement with the UK, but by the individual. I don't think the UK care whether the money is put offshore so long as it is declared and tax paid on it.

[Sebrof]

I don't think the UK care whether the money is put offshore so long as it is declared and tax paid on it.

 

So what then is the point of shipping your money offshore if you are going to pay UK tax on it?

 

There must be a reason to put your money in the IOM. If it's not to avoid tax in your home country, then what is it?

 

S

[Sebrof]

Anecdotal but true, and to illustrate I use one example, but I know others. I'm sure many of us do of course.

 

A person was going to be hit by a huge Tax bill in UK. Huge. Fighting, kicking, screaming they didn't want to pay it.

 

A long weekend on the Isle of Man sorted that little one out, thank you.

 

Isle of Man............. £650,000 (a large figure, whatever it was)

United Kingdom....... nil

 

 

 

The Isle of Man is, is, is a tax haven.

 

 

For the purposes of balance, it also has lovely friendly people and sandy beaches. And a famous motorbike race.

 

So in a weekend he changed his place of residence and thus his tax bill? Anecdotal but I think a little truth has been left out in the telling.

 

Yup, there's credible, barely credible, and frankly incredible. This is number 3.

 

S