Positive Action Group - Possan Jantys Jarrooagh

Treasury spent £75k In 2006 and £75k in 2007 to attend Conferences in Geneva for 'High Net Worth Advisers'. In 2008 £80k was spent on 'Wealth Man Conferences'.

 

It's no surprise then that Chief Minister Bell continues to try and justify his tax cap policy, to convince us it's working.

The Attribution Regime (ARI) for Individuals will be abolished with effect from 6th April 2012. The ARI ensured that Isle of Man resident shareholders did not roll up profits in an Isle of Man company tax free.

The abolition of the ARI means that Isle of Man resident shareholders of Isle of Man companies may be able to roll up profits tax free in a company until such time as a distribution is made. The use of a company structure with the ability to roll up profits tax free for Island residents would appear to be a very attractive proposition, but perhaps unfair to the majority of taxpayers unable so to do.