Lxxx Posted April 12, 2016 Share Posted April 12, 2016 Finance etc goes tomorrow. What are we going to be doing? I would be contracting. Assuming Corbyn hasn't cut off the internet. What about you? In many ways it would be little different from living anywhere else in these islands. It already isn't. And to be honest - a lot of people who are accountants or lawyers or any number of other professionals also employing people would be able to carry on the same but different. These skills are useful anywhere. The internet provides a lot of remote working opportunities which did not exist in 1980. I believe that finance has been good for the IOM, I see no moral issues today and I think it has been well managed - especially in recent years. The island is right to seek to ensure that the business is seen to be compliant internationally - more and more about expertise, less and less about loopholes. But let's not fall for a sort of defeatist negativism which assumes that the island could not adapt. Really?? You really believe this? Quote Link to comment Share on other sites More sharing options...
Lxxx Posted April 12, 2016 Share Posted April 12, 2016 It isn't a moral issue. It's a legal one. Indeed but you can argue until the cows come home about morals which is why they are introduced when you have nothing else to argue with. When working within the existing legal framework becomes a source of public outcry then I fail to see how it can be anything other than a legal issue. Quote Link to comment Share on other sites More sharing options...
hillshepherd Posted April 12, 2016 Share Posted April 12, 2016 Finance etc goes tomorrow. What are we going to be doing? I would be contracting. Assuming Corbyn hasn't cut off the internet. What about you? In many ways it would be little different from living anywhere else in these islands. It already isn't. And to be honest - a lot of people who are accountants or lawyers or any number of other professionals also employing people would be able to carry on the same but different. These skills are useful anywhere. The internet provides a lot of remote working opportunities which did not exist in 1980. I believe that finance has been good for the IOM, I see no moral issues today and I think it has been well managed - especially in recent years. The island is right to seek to ensure that the business is seen to be compliant internationally - more and more about expertise, less and less about loopholes. But let's not fall for a sort of defeatist negativism which assumes that the island could not adapt. i'd like to believe this,BUT----------------. Quote Link to comment Share on other sites More sharing options...
pongo Posted April 12, 2016 Share Posted April 12, 2016 Really?? You really believe this? Why not? Don't you believe that finance has been generally positive for the island - and that it is important to stay ahead of the regulation? Or is it that you do not have confidence that people with solid professional skills are capable of adapting to change as it happens over time? Much of the negativity and pessimism seems potentially counter productive. Quote Link to comment Share on other sites More sharing options...
Lxxx Posted April 12, 2016 Share Posted April 12, 2016 (edited) Really?? You really believe this? Why not? Don't you believe that finance has been generally positive for the island - and that it is important to stay ahead of the regulation? Or is it that you do not have confidence that people with solid professional skills are capable of adapting to change as it happens over time? Much of the negativity and pessimism seems potentially counter productive. I'm totally confident bright people will gravitate towards the areas which offers them the best possible chances of personal rewards. I'm just not too sure said intelligent people will stick around on a rock in the Irish Sea to find out. Edited April 12, 2016 by Lxxx Quote Link to comment Share on other sites More sharing options...
notwell Posted April 12, 2016 Share Posted April 12, 2016 Finance etc goes tomorrow. What are we going to be doing? I would be contracting. Assuming Corbyn hasn't cut off the internet. What about you? In many ways it would be little different from living anywhere else in these islands. It already isn't. And to be honest - a lot of people who are accountants or lawyers or any number of other professionals also employing people would be able to carry on the same but different. These skills are useful anywhere. The internet provides a lot of remote working opportunities which did not exist in 1980. I believe that finance has been good for the IOM, I see no moral issues today and I think it has been well managed - especially in recent years. The island is right to seek to ensure that the business is seen to be compliant internationally - more and more about expertise, less and less about loopholes. But let's not fall for a sort of defeatist negativism which assumes that the island could not adapt. If you took away the finance sector tomorrow the island would be totally fucked. Totally. 1 Quote Link to comment Share on other sites More sharing options...
Gladys Posted April 12, 2016 Share Posted April 12, 2016 But how will they eat?We have survived many times before and we will survive again, no problem. Someone with ideas other than Bell and Tears will come along as they have in the past ' moving forward ' . ' Whichever way you throw us we stand ' Aah, the 'pop-up' theory. Quote Link to comment Share on other sites More sharing options...
Lxxx Posted April 12, 2016 Share Posted April 12, 2016 But how will they eat? We have survived many times before and we will survive again, no problem. Someone with ideas other than Bell and Tears will come along as they have in the past ' moving forward ' . ' Whichever way you throw us we stand ' Meanwhile, back in the real world... Quote Link to comment Share on other sites More sharing options...
pongo Posted April 12, 2016 Share Posted April 12, 2016 (edited) Overseas territories spared from UK law on company registers Speaking in the Commons, Dudderidge, a junior Foreign Office minister, said it was only fair to congratulate the territories on their “superb progress”, especially as some states in the US continued to allow companies to be formed without the need for a registry of beneficial ownership. It is likely that Cameron will instead use the summit to declare that foreign companies that own property or bid on public contracts will be required to provide their beneficial ownership information. I think Gladys mentioned the second bit a day or so ago. Edited April 12, 2016 by pongo Quote Link to comment Share on other sites More sharing options...
finlo Posted April 12, 2016 Share Posted April 12, 2016 (edited) I'm not under any pressure I can assure you. It just bores me when clueless people like you waffle on about things they've no real understanding of. I do not claim to know much about avoiding paying Tax as I have never done so. Just a little information for you. Canada is coming after the Isle of Man and has allocated 444 million pounds for the job ( this does include other Tax Havens ) although it names the IOM specifically . The net is closing and I may indeed be clueless when it comes to Tax Dodging but there are plainly others who aren't, and they are coming after the Isle of Man and this sickening habit, which surely does the Islands reputation no good at all with decent and honest people, of whom there are gladly still many. Canada are going to be deeply disappointed I suspect. What exactly is "sickening" by the way? In relation to what has happened in Canada KPMG etc put together structures that were perfectly legal. And they've used other locations too. The location wasn't hugely important. The rules that KPMG et al worked to allowed them to do it. You need to move away from thinking that it is dishonest to arrange your tax position in the most efficient way possible. It isn't a moral issue. It's a legal one.[/quot I'm bored with this, we will all soon see the result Do you use an Enigma machine for quote posting? Edited April 12, 2016 by finlo 3 Quote Link to comment Share on other sites More sharing options...
hillshepherd Posted April 12, 2016 Share Posted April 12, 2016 IF we're not a tax haven what the fuck are we ? Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted April 12, 2016 Share Posted April 12, 2016 (edited) fucked. or so i keep hearing Edited April 12, 2016 by the stinking enigma Quote Link to comment Share on other sites More sharing options...
Gladys Posted April 12, 2016 Share Posted April 12, 2016 Well, perhaps a well-regulated offshore financial centre? It is disheartening to see the criticism from locals of a sector they do not understand, but are happy to jump on a bandwagon of ignorance, while benefiting from the economic advantages it brings. Who knows, there could be some very beneficial effects; a lot of people may be wanting to associate themselves with a reputable jurisdiction rather than the dodgy and more permissive second or third tier jurisdictions they currently have the misfortune to be tied up in now. Most likely based on professional advice when they set the structures up originally. 3 Quote Link to comment Share on other sites More sharing options...
notwell Posted April 12, 2016 Share Posted April 12, 2016 Excellent post Gladys Quote Link to comment Share on other sites More sharing options...
the stinking enigma Posted April 12, 2016 Share Posted April 12, 2016 yes , we know we would be nothing without it. we are basically worthless Quote Link to comment Share on other sites More sharing options...
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