Budget could mean bonus for IOM

Sat, 26 Jun 2010

A leading accounting firm on the Island says there could be an influx of wealthy individuals to the Island as a result of the UK's emergency budget.

Tax Senior for Moore Stephens Isle of Man, Michael Rumsey, says the hike in capital gains tax which is not not taxable on the Island could mean huge savings for anyone relocating to the Island, making the Isle of Man even more attractive to investors.

This could mean a further bonus to the £25 million announced earlier this week from the hike in VAT.