Isle of Man - Issues and insights - Articles and publications - Tax Live

Tax Live 

Welcome to Tax Live which provides an update on tax matters which are potentially of relevance to offshore individuals and businesses.

 

Read our reaction to the 2011 Isle of Man budget in this article.

 

Read our reaction to the 2011 UK budget in this article.

Can Isle of Man companies reclaim foreign withholding taxes on their EU investments?

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Isle of Man companies can, in certain circumstances, reclaim foreign withholding tax (“WHT”) suffered on dividends received on their EU investments.

UK Finance Bill 2012 - Relevance to the finance industry in the Isle of Man

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The draft causes published today will be subject to specific consultation until 10 February 2012, before being included in the 2012 Finance Bill.

UK Switzerland tax co-operation agreement

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A new tax agreement between the UK and Switzerland was signed on 6 October 2011 by the governments of the UK and Switzerland.

Letters from HMRC entitled "Swiss investments”

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HMRC have begun writing to individuals who they believe have Swiss bank accounts.

An update on the Statutory Residence Tests

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KPMG has attended meetings with HM Treasury (“HMT”) about the proposed statutory residence tests (“SRT”). We have summarised our discussions with HMT in this article.

VAT Compliance Services

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For finance and Tax directors managing the VAT risk and the cash flow implications can be a real challenge which is often compounded by constantly evolving case law, Statute and HMRC guidance. With the introduction of the “New Penalty Regime” and other penalties such as the “failure to notify penalty” and “wrongdoing penalty” compliance is of paramount importance to avoid costly errors. Whether you are looking to reduce your VAT compliance risk or mitigate unnecessary VAT loss through structuring KPMG have the technical insight and skills to assist.

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Gregory Jones

Gregory Jones

Director : Tax

+44 1624 681000

gregjones@kpmg.co.im

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