IOM Question

[KevinS]

This may be a stupid question, but hey ho..

Situation: I know someone who has a company incorporated on the Isle of Mann.. He used to work here in the UK, but now works in Switzerland. He is not UK tax resident.

Question: Is there anything stopping me from closing my limited and becoming a director of said company in IoM and working through it??

Opinions (and I am sure there will be many)??

[BrilloPad]

This may be a stupid question, but hey ho..

Situation: I know someone who has a company incorporated on the Isle of Mann.. He used to work here in the UK, but now works in Switzerland. He is not UK tax resident.

Question: Is there anything stopping me from closing my limited and becoming a director of said company in IoM and working through it??

Opinions (and I am sure there will be many)??

Are you working in the UK?

No agency will touch you as they will be liable for your tax.

Try montpelier(See the Sanzar Thread - http://forums.contractoruk.com/accou...m-company.html ).

[Sockpuppet]

I suppose not. To be fair the initals IOM just scream "stay the **** away" to me.

Especially if you live in the UK full time. I know people who own large companies that live in the IOM but have to do so for x days a year. Not that great if you work in the UK.

[malvolio]

Nothing at all - but you will still be a UK tax resident, so no benefit.

[KevinS]

Are you working in the UK?

No agency will touch you as they will be liable for your tax.

Try montpelier(See the Sanzar Thread - http://forums.contractoruk.com/accou...m-company.html ).

Yeah, I am working in the UK..

Why would they be liable?

I have read the thread.. Must be said, not all that keen on the idea.. I was just wondering...

[BrilloPad]

Yeah, I am working in the UK..

Why would they be liable?

I have read the thread.. Must be said, not all that keen on the idea.. I was just wondering...

The last place before it leaves the UK is liable.

[KevinS]

Nothing at all - but you will still be a UK tax resident, so no benefit.

I was more thinking from a CT point of view, rather than personal tax..

[ASB]

This may be a stupid question, but hey ho..

Situation: I know someone who has a company incorporated on the Isle of Mann.. He used to work here in the UK, but now works in Switzerland. He is not UK tax resident.

Question: Is there anything stopping me from closing my limited and becoming a director of said company in IoM and working through it??

Opinions (and I am sure there will be many)??

Nothing at all. But whether you can achieve anything useful in terms of tax planning is a very different question.