The smart choice for self-employed professionals

News

• All News
•  
• General News
• Taxes & Legislation
• Operational Updates

Ask A Question

Title*

Forename*

Surname*

Your Question*

Email Address*

 

Osborne praises Isle of Man

21.10.13

The Isle of Man has signed a FATCA-style agreement with the UK in a bid to fight against tax evasion.

It is the first deal of its kind to be struck by a crown dependency, and the UK hope both Guernsey and Jersey will follow suit.

Chancellor of the Exchequer George Osborne said: 'The Isle of Man should be recognised as the first jurisdiction to sign an agreement of this kind with the UK.

'The agreement we have now signed with the Isle of Man is a momentous step forward in tax transparency showing that when we work together we can push the international agenda forward.'

Mr Osborne's praise towards the Isle of Man recognises the effort that the island's government has put in over the last decade to improve the reputation of its finance sector.

'The Isle of Man was the first to strike this agreement with the UK and we are now the first to sign, demonstrating the clear commitment of both countries to the development of a new global standard in automatic exchange,' said Allan Bell, the Chief Minister on the Isle of Man.

'The signing is a significant step towards that global standard and further proof the tax haven moniker in relation to the Isle of Man is well and truly dead, as David Cameron recognised recently in the Commons.'

The Manx government are said to be signing a similar deal with the United States in the near future.

The term 'off-shore' often has a negative stigma attached, but Consort would like to take this opportunity to reassure our contractors that our procedures have been developed following consultation with HMRC. By using Consort Consultancy Services, you can reap the benefits of self-employment whilst having the security of working with a company that's been in business for 24 years.

<< Back to All News