HCW Manx & UK Tax Update Seminar 2008

Raj Nandha, 30 September 2008 - As long as there are changes we anticiapte these seminars to continue each year.

The tax department presented their 3rd successive Manx Tax Update seminar on 25 September 2008 at the Hilton Hotel, Douglas, Isle of Man. This event has proven to be a success in the past and nothing changed this year. Approximately 50 clients attended this seminar which was presented in two distinct parts one relating to Manx companies and the other relating to Manx individuals. The Manx topics covered by the seminar included:
 
A summary of the Distributable Profits Charges (DPC) and Changes in the basis of assessment of companies;
The introduction of the "Attributable Regime for Individuals (ARI)" - which replaces the DPC;
The Manx Budget 2008;
Benefits in Kind; and
Pensions Act 2008
 
The seminar rarely presents changes imposed in the UK each year. However the UK 2008 Budget and subsequent legislation changes of Residence and Domicile issues were seen to be an important area to present along with Manx tax changes, in particular the counting of days for the UK residence test, and the remittance basis application for UK resident non domiciled beneficiaries of Isle of Man trusts.
 
We would like to take this opportunity to thank all those who attended and we trust you found it useful.