Isle of Man Zero Corporation Tax

paul_markland

I am a small business who incorporated last year for tax benefits ..... i have now been told that if i register my company in the Isle of Man i will be exempt from corporation tax .... can anyone advise

thank you

Jeewhizz

It's true, however, you will need to prove that the business runs from the IoM, and that the majority of meetings by the shareholders are there as well. You'll need a regi'd office on the IoM as well.

If it were that simple, a lot of companies would be doing it

dejongj

An alternative to that scheme but one often mistaken for it is the employee benefit trust scheme....This is pure tax avoidance and can be registered as such when you operate it and should give you about 80% return....But you'll be hard pushed to find anyone willing to operate it for less than about £120K a year turnover...Like with most tax avoidance schemes, imho, there are some severe risks attached to it....that can or may not turn into issues and thus potentially a big bill.....