In April a new law will bring the Isle of Man system more in line with the UK's when it comes to pensions. Brendan Harper investigates the changes resulting from the Income Tax Bill 2007
In previous articles I have outlined the rules for taking up residence in the Isle of Man, and illustrated how Manx residents can be better off in relation to UK residents in respect of the amount of tax they pay on their income. In this article, I will look at the position of pensions in relation to Isle of Man taxation. Over the last few years, there has been a lengthy consultation period on the island that resulted in the Income Tax (Pensions) Bill 2007 currently progressing through Tynwald (the Manx Parliament). The changes contained in the Bill are expected to become law from 6 Apr...
To continue reading this article...
Join Professional Adviser for free
Signup and gain exclusive members-only insights
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes
