Isle of Man Office
Woolford & Co
advice@woolford.co.uk
Tel: 44 (0)1624 649280
Fax: 44 (0)1624 615603
69 Athol Street
Douglas
Isle of Man
IM1 1JE
The Isle of Man office of Woolford & Co. is based at 69 Athol Street, which it shares with Dixcart Management (IOM) Limited, part of the Dixcart organisation.
If considering moving yourself or your business to the Isle of Man, it is very important that you speak with Woolford & Co. first, as there are opportunities to save tax which may be lost once the move has taken place.
Isle of Man companies benefit from a zero rate of tax on trading and investment income. They are also able to register for VAT, and businesses in the Isle of Man are treated by the rest of the EU for VAT purposes as if they are in the UK.
Isle of Man companies are therefore particularly useful for:
- Holding investment portfolios and participations in other companies. This is due to the zero rate of tax on such activities and the lack of withholding taxes on dividend income from such companies.
- Trading within the EU. Due to the zero rate of tax on trading income and the ability to quote an EU accepted VAT number.
- Holding UK commercial property. For VAT purposes the UK and the Isle of Man are treated in the same manner.
- Isle of Man companies wishing to borrow money from banks benefit from being in a well regulated jurisdiction with a public register of mortgages and other charges.
- As the Isle of Man is a signatory to the Paris Convention on Patents and Trademarks, many intellectual property companies base themselves in the Isle of Man.
