Tax breaks on the Isle of Man

Article Abstract:

The Isle of Man offers attractive tax planning and corporate structuring opportunities to companies looking for the most advantageous way of structuring their international operations. In terms of taxation, the island is an ideal business location given its low taxation policy. Because it has historically been independent of England, the Isle of Man regulates its own fiscal and tax policies and is only required to keep its customs duties broadly in line with those of the UK. Among the many tax incentives it offers are income tax exemptions and deductions for firms considered as Manx residents for tax purposes only. In terms of corporate structuring, the Isle of Man has enough space to allow manufacturing companies to expand. The island is increasingly being considered by business leaders in relation to the issues of triangulation, guarantee companies and international business operations.

Taxation, Isle of Man

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Share Redemption: 1981 Act Leaves the Lines Blurred

Article Abstract:

The Companies Act of 1981 and Companies Act of 1948 which it replaces, are compared. Three key points of the 1981 Act are listed. Then, the four rules of the 1948 Act are listed. Two interpretations of the term 'proceeds' cause difficulty in interpretation of the 1948 Act. An example comparing results according to the two is illustrated. The handling of the share premium and nominal element are the main focus of discussion. The conclusion that the 1981 Act remains ambiguous causes concern whether this was its intent, for flexibility, or an oversight on the part of those drafting it. However, a fuller theory about business capital is called for and the Companies Act 1981 does not provide it.

United Kingdom, Laws, regulations and rules, Securities law

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