Abacus were delighted to be joined by members of the Isle of Man Institute of Directors on Tuesday 22 November for a presentation on the challenges for the Isle of Man on growth.
The presentation was led by Associate Director Kevin Loundes and covered recent changes in UK tax and how they may impact on Isle of Man businesses. The presentation focused on tax issues applicable to UK property, proposed changes to the taxation of non-UK domiciliaries and recent developments in relation to enabler of tax evasion and avoidance.
Speaking after the event, Kevin said “It was a pleasure to have the opportunity to present to a selection of local business leaders. There have been a lot of changes in UK tax over the last 12 months which have an impact on the Island with further changes to come. It is important to understand what these changes are but perhaps more important is assessing the implications for local businesses. There are challenging times ahead for the Island and it is important that we understand how those challenges will impact on the various sectors of the Islands economy.”
Abacus will be hosting further events in the coming months. Details of such events will be announced closer to the time.