The island expects the move to cost around £20m a year but expects to generate other revenue as more companies move to place their head offices on the island.
Specualtion points to Guernsey and Jersey possibily following the move, which will anger UK Treasury officials already concerned by the number of companies registering off-shore.
According to reports in today’s press the move to a zero coporation tax rate resolves the issue of ‘exempt companies’ status on the island, which already allows companies based there to pay no tax on earnings from outside the Isle of Man.
Mark McMullen joins the private client services team from Smith & Williamson
Merger between Clear & Lane Chartered Accountants and Magma Chartered Accountants was finalised on 3 February
BDO has taken its new partner intake to 23 during the first half of its financial year, including the appointment of five partners in five weeks
The firm reports 7.6% global fee income growth for the year ending 31 December 2016