Tag Archives: Isle of Man
Pouring Cash Down the Toilet – £18 Billion Shortfall in British VAT During 2006
It has long been suspected that there is widespread under collection of VAT throughout the European Union. But until now no one realised just how big the figures were. Talk about pouring cash down the toilet!
There are a number of reasons for the shortfall some relating to systematic fraud (such as “carousel fraud” on mobile [...]
The Benefit of Offshore Trusts
For many years UK taxpayers benefitted greatly by transferring (settling) their assets in offshore trusts, but increasing ant-avoidance legislation has led people to believe that there is no point in using an offshore trust any more.
Whilst it is true that the tax advantages are no longer as good and they once were the fact is [...]
The Oldest Horse Tramway in the World commenced service on 7th August 1876
And it’s still running the length of Douglas Bay on the Isle of Man.
The tramway was built and first operated by Thomas Lightfoot, a retired Sheffield civil engineer. In 1882, he sold the line to Isle of Man Tramways Ltd but 20 years later Douglas Corporation had to purchase the lines when the company went [...]
European Economic Area (or “EEA”)
The European Economic Area consists of all the member states of the European Union plus three of the four European Free Trade Association (EFTA) states, namely Iceland, Norway and Liechtenstein. By treaty the EFTA states have been allowed to be part of the European Single Market without being required to join the EU.
The Fourth EFTA [...]
The Worlds Oldest Parliament
On 23rd June 0930 the Icelandic parliament (the Althing) first sat making it the oldest parliament in the world. However it has not opeerated continuoulsy which is why the Isle of Man, or Manx, Parliament, (the Tynwald) is the oldest parliament still existing having been founded 979.
The Althing’s establishment, as an outdoor assembly held on [...]
