From IOM Guide

There is a mix of culture and people living on the Isle of Man. From the native Manx to immigrants from South Africa, the island is as mixed as the United Kingdom and flourishes because of it. Most people are of Irish, Welsh, Scottish and British descent, but this is expected due to the location of the island between the United Kingdom and Ireland. The island has seen large numbers of immigrants in recent years, but there are still plenty of locals. The Manx are of Celtic and Viking descent. This has greatly effected the culture on the island, which has strong roots in Celtic and Viking traditions.

Icecream on "The Prom" in Douglas.

The standard of living on the island is very good. There is almost no unemployment and strong community spirit. Many compare life on the island to be much like it is in northern England or Wales, and they would not be far wrong. The Isle of Man is a scene of small sea side towns and villages with a quiet and more relaxed way of life. Where things get done in their own time.

Relaxing on the Prom at Peel

The Isle of Man has a very low crime rate. This could be due to a mixture of low unemployment and high community spirit. The island does tend to take a very hard line on criminal offences. Even small crimes are often given high fines or jail time

Rose Queen

There is a National Health scheme on the Isle of Man. It resembles that of the UK, but does not have the long waiting lists. Most of the general treatments and surgeries are done on the island, but for more complicated procedures the Isle of Man Government sends patients to the UK for private treatment there.

The Education system on the Isle of Man runs much like that of the UK. Students attend school from 4/5 years to 16 years with an optional additional two. Exams for SAT, GCSE, and A level are the same as in the UK, except for the native language Manx, which has its own exams. One minor difference is that French is taught from 8 years old.

Train spotters at Laxey station

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Summer fun at Mooragh Park, Ramsey

FactFile

Population:
73,873 (July 2002 est.)

Population Distribution:
  Douglas: 33.2%
Onchan: 11.5%
Ramsey: 9.6%
Peel: 5.0%
Port Erin: 4.4%
Castletown 4.1%
(2001)
Age structure:
0-14 years: 17.51% (male 6,562; female 6,306)
15-64 years: 65.19% (male 24,061; female 23,845)
65 years and over: 17.3% (male 5,076; female 7,639) (2001 est.)

Population growth rate:
0.52% (2002 est.)
Birth rate:
11.49 births/1,000 population (2002 est.)

Death rate:
11.68 deaths/1,000 population (2002 est.)

Net migration rate:
5.41 migrant(s)/1,000 population (2002 est.)

Infant mortality rate:
6.3 deaths/1,000 live births (2002 est.)

Life expectancy at birth:
total population: 77.81 years
male: 74.44 years
female: 81.36 years (2002 est.)

Total fertility rate:
1.65 children born/woman (2002 est.)

Nationality:
noun: Manxman (men), Manxwoman (women)
adjective: Manx

Ethnic groups:
Manx (Norse-Celtic descent), Briton

Religions:
Anglican, Roman Catholic, Methodist, Baptist, Presbyterian, Society of Friends

Languages:
English, Manx Gaelic

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View of Crosby

There is a wide variety of property available on the Isle of Man from flats (apartments) to farms. In the more heavily populated areas of towns and the city of Peel, large Victorian town houses are most prominent. Along the harbours small fishing terraces exist. Moving into the suburbs detached houses and bungalows can be found. The countryside is dotted with small cottages and large farms. The island has many small villages, where a variety of Manx cottages and smaller homes can be found.

Renting in Douglas or the larger towns on the Isle of Man can be expensive with a one bedroom flat costing over 360 pounds a month. Flats on the island can run from around 75,000 to 250,000 pounds. Houses start at about 100,000 pounds.

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FactFile

Location:
Western Europe, island in the Irish Sea, between Great Britain and Ireland

Geographic coordinates:
54 15 N, 4 30 W

Map references:
Europe

Area:
total: 572 sq km
land: 572 sq km
water: 0 sq km

Coastline:
160 km

Maritime claims:
exclusive fishing zone: 12 NM
territorial sea: 12 NM

Climate:
cool summers and mild winters; temperate; overcast about one-third of the time

Terrain:
hills in north and south bisected by central valley

Elevation extremes:
lowest point: Irish Sea 0 m
highest point: Snaefell 621 m

Land use:
arable land: 9%
permanent crops: 0%
permanent pastures: 46%
forests and woodland: 6%
other: 39% (includes 25% mountain and heathland)

Environment - current issues:
waste disposal (both household and industrial); trans boundary air pollution

Geography - note:
one small islet, the Calf of Man, lies to the southwest, and is a bird sanctuary

A country view

And another view

The rugged coasted line

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The Isle of Man is not part of the United Kingdom. It is a crown dependency which has its own laws, courts, and government. The Government on the Isle of Man is a parliament called Tynwald. Tynwald is over a 1000 years old and believed to be the oldest continual parliament in the world. Started in Viking times, Tynwald was an open air meeting at midsummer. There islanders could come and hear the laws, seek justice, or speak their thoughts. This tradition continued throughout the viking rule, which lasted from 800 AD to 1266 AD, then passed on through Scottish rule, before ending up in British rule around 1405 AD. The island's first English King was Sir John Stanley of Lancashire. In the 16th century the title King was replaced by Lord and in 1765 the title Lord of Man was passed to the British Crown and hence it has been.

Government Offices, Douglas

The Lieutenant Governor is the British Crown representative on the Isle of Man. The Governor is technically the executive head of the government, but in recent years this role has taken the form of vice-regal since most of his duties are now undertaken by Tynwald Government Departments or the Council of Ministers.

There are two branches to the Tynwald Parliament, the House of Keys and the Legislative Council. The House of Keys is the lower branch and is made up of 24 publicly elected members (every 5 years). The Legislative Council is the upper branch and contains the President of Tynwald, Attorney General, Lord Bishop of Sodor and Man, 3 ex officio, and 8 members elected by the House of Keys. Separately these branches will consider bills, which can be passed into law with a majority vote from each branch. When these two branches meet together in the Tynwald Chamber, they form the Tynwald Court. This court decides important things like government administration and funding. When Tynwald normally meets the President of Tynwald presides, keeping order throughout the sitting. The House of Keys elect a Speaker who will keep order at in house meetings and voice their views at Tynwald sittings.

More Government Offices in Douglas, commonly known as the "Wedding Cake". It is currently under refurbishment.

Tynwald often takes the laws passed in the UK to be considered for the island. Not all the laws passed in the UK are relevant to the Isle of Man. This is why consideration is required, to work out what is best for the needs of the Island. Some notable differences in laws between the UK and the Isle of Man are buying cigarettes is 18 not 16, driving is 16 not 17 and pubs can be open 24 hours a day.

Government Registries

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FactFile

Economy - overview:
Offshore banking, manufacturing, and tourism are key sectors of the economy. The government's policy of offering incentives to high-technology companies and financial institutions to locate on the island has paid off in expanding employment opportunities in high-income industries. As a result, agriculture and fishing, once the mainstays of the economy, have declined in their shares of GDP. Banking and other services now contribute 42% to GDP. Trade is mostly with the UK. The Isle of Man enjoys free access to EU markets.

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Taxation Details for the Isle of Man

The Isle of Man is a well known low tax area offering low or zero rates of direct taxation for individuals and companies. It is also an award winning well regulated offshore financial services centre.

The Isle of Man relies upon a small number of taxes, namely: income tax, national insurance (a social security tax), rates (a form of property tax) and VAT (value added tax).

The Isle of Man does not have any capital gains tax, wealth tax or inheritance tax.

Individuals

Income tax is levied at a rate of 10% on the first £10,000 of taxable income and 18% on the rest. Individuals receive an £8,225 personal allowance. Married couples are taxed jointly and receive a personal allowance of £16,450, pay 10% on the first £20,000 of taxable income and 18% on the rest.

National Insurance is a form of social security taxation. It is levied on employment income at a slightly lower rate than the UK. For employees the rate is 10% on income between £89 and £595 per week. Various other rates are levied on the self employed etc.

Rates are a form of property tax and are based on a notional house value multiplied by some number set by the local authority. They are the primary source of income for local councils.

VAT is charged at 17.5% on the value of an item. Prices displayed in shops already include this tax. There are some variations but generally the tax is applied in a similar manner to the UK.

Companies

Trading companies pay 10% on the first £100,000,000 of profit and 15% on the remainder. Non trading companies pay 18% tax on profits. However companies whose beneficial ownership lies outside the island and who do not derive profits from within the Isle of Man may instead choose to pay an annual exemption fee of £430. Insurance and shipping companies benefit from a 0% rate of taxation. The Isle of Man has indicated its intention to reduce the standard rate of taxation to 0% for almost all trading companies over the next few years.

Most companies with a turnover of £55,000 or more are required to register for VAT. The Isle of Man VAT regime is controlled by the Isle of Man's own Customs and Excise department. The Isle of Man is the only offshore centre in the EU VAT regime. VAT is charged at 17.5% on most sales.

The main employment tax is National Insurance and is levied at a rate of 12.8% on earnings above £89 per week.

The Isle of Man does not operate IR35, or any equivalent scheme.

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If that should be an IR85 (claim to have interest paid gross in cases of low income), then it is a different IR (105 or 120) applicable to offshore islands.

However, whilst the UK Inland Revenue goes along with this, many UK Building Societies, Banks etc do not embrace this form (they want to keep their domestic affairs simple).

Gari

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Actually, it should be zero this year but things don't move THAT fast on Mann.

It is now estimated that corporations will live tax free from 2007 (so read 2008 in Manx Gaelic)

Whatever, it turns out that the Channel Islands can't afford to play this game and we appear to be the only one.

This means that the Isle of Man will be the only offshore domicile of repute in the world with a zero corporation tax rate.

We also have no capital gains taxes nor do we have estate duties payable on the death of parents - a good place to retire to if a certain wealth is to pass to the family on death.

Gari

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Information on IR35 can be found at this link Gari.

http://www.inlandrevenue.gov.uk/businesses/faq/faq04.shtml

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Interesting news at IOM Today

GIBRALTAR ANOMALY FORCES ISLE OF MAN INTO CORNER

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Again from IOM Today

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Attached audio

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WOW, now this was interesting!  I never knew that the Isle of Man was not actually a part of the UK.  Very, very informative. 

Love the new background, etc. here also.

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Jacqui... no, we are our own nation, own government, own flag, own culture, history, etc etc... population 76,000 approx.. and now quite an international community with many/most nationalities represented here.

for visiting

Elizabeth

PS the background represents all the beautiful glens we have on the Island.  Check the threads here and in the archives on Glens and you will see what I mean.

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