Offshore Tax: Isle of Man Tax Saving Guide

Isle of Man Tax Saving Guide By Nick Braun PhD

PUBLICATION DATE: May 2011
PAGES: 50
STATUS: IN STOCK
 

Overview of the Isle of Man Tax Saving Guide

This brand new tax guide tells you everything you need to know about paying less tax by moving to the Isle of Man. The first edition has just been published (May 2011) and is completely up to date.

The Isle of Man is probably the best tax haven in Europe: Tax rates are lower than in similar tax havens (e.g. the Channel Islands) and the Manx Government welcomes entrepreneurs, skilled individuals and retirees with open arms.

What’s more, the Isle of Man is just 30 to 60 minutes flying time from the UK mainland.

There is no:

• Corporation tax
• Capital gains tax
• Inheritance tax

The maximum income tax rate is 20% (compared with 50% in Britain). There is also a generous tax-free allowance and a big chunk of income is taxed at just 10%.

Furthermore, Isle of Man residents enjoy a number of special tax reliefs (e.g. a tax deduction for home loan interest).

What information is contained in the Isle of Man Tax Saving Guide?

Subjects covered include:

• All tax changes from the February 2011 Isle of Man Budget.
• All relevant tax changes from the March 2011 UK Budget.
• How to become non-UK resident and escape UK income tax and capital gains tax… plus the traps to avoid.
• Detailed comparison of Isle of Man and UK income tax.
• Sample tax savings – e.g. someone earning £80,000 can save £8,920 in tax every year in the Isle of Man.
• How you can reduce your tax bill by an additional £3,000 by claiming a tax deduction for home loan interest.
• How married couples can reduce their income tax by an additional £2,910.
• A long list of tax-free employment benefits (e.g. mobile phones, childcare).
• A comparison of UK and Isle of Man national insurance.
• The Isle of Man’s 0% corporation tax rate: Who can benefit and changes taking place in 2012.
• Free cash from the Manx Government: a list of business grants available to small and bigger businesses.

About the Author
Nick Braun has been involved in the tax publishing world for over 20 years as a writer, editor and publisher. He holds a doctorate in economics from the University of Glasgow, where he was awarded the prestigious William Glen Scholarship and later became a Research Fellow. Nick is also one of the UK’s only Enrolled Agents, authorised to represent taxpayers in dealings with the United States Internal Revenue Service (IRS).

Contents of the Isle of Man Tax Saving Guide

Chapter 1 Key Facts about the Isle of Man

Chapter 2 How to Become an Isle of Man Resident for Tax Purposes

Chapter 3 Capital Gains Tax and Inheritance Tax

Chapter 4 Income Tax: Big Savings for UK Taxpayers

Chapter 5 National Insurance

Chapter 6 VAT

Chapter 7 Company Tax

Chapter 8 Capital Allowances

Chapter 9 International Tax Agreements

Chapter 10 Business Grants

Ordering Information

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All customers will receive a complimentary electronic copy of our comprehensive tax guide ‘How to Save Tax 2011/2012′ – worth £19.95, with every purchase.

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