Isle of Man

AXA Isle of Man is to use an offshore bond wrapper to provide clients with exclusive access to the newly launched Bramdean Alternatives Limited Fund.

The Crown Dependencies of Jersey and the Isle of Man have signed declarations with the UK recognising each Island has its own identity and interests in the international arena.

The Treasury Department of the Isle of Man is preparing for a full roll-out of online services which will help advisers and companies "interact with the income tax system".

The Isle of Man Treasury is planning to remove the compulsory annuitisation of pension schemes, under its proposals for 'pensions simplification', because there are now fewer annuity providers on the island.

Allan Bell, the Isle of Man Treasury Minister, has announced in the Budget the completion of a review into the Island's funds sector, and the establishment of a £20m economic development fund.

A draft trust designed to avoid Isle of Man probate and Inheritance Tax issues associated with life assurance policies has been launched by Scottish Life International.

Tony Brown, former Speaker of the House of Keys, has been elected as the new Chief Minister for the Isle of Man.

The Isle of Man Companies Act 2006, also known as the New Manx Vehicle, has now become law after receiving Royal Assent.

Scottish Life International has issued a guidance note to help advisers understand the use of offshore bonds.

The Isle of Man Treasury has appointed a new financial controller, with effect from next Monday