NoTail

LL seems like a long way of saying a sham is not allowed. I agree, but on the IOM we specialise in making complicated structures with holding companies owned by trusts etc in order to complicate and deceive those who might want to get at the simple truth. Please don't try to undermine our well established business model.

This seems to be a substance over form argument. If a multimillionaire who can easily afford to buy a plane for himself goes to the trouble of setting up a leasing arrangenement to lease the plane to himself purely to avoid paying tax, then the whole complicated arrangement may be struck down. Do we know whether Mr Hamilton has rented out his plane to people he has never met to go on holiday? Is there a website you can go to to book a flight on his plane?

This issue isn't about Lewis Hamilton alone. Many aircraft gave been registered.

I kept reading that as "He’s ignorant, poorly read, ill-informed, inarticulate and obese"

There seems to be some sort of quiet panic at the VAT office going on which I think may be connected to this case. .. I had a client who was partially exempt who closed down about 2 years ago. All was fine in the deregistration at the time. A couple of months ago the VAT office contacted one of the old owners and in an embarrassed way wanted to re-open the close down and inspect the books. In 40 years of accounting I have never encountered a similar situation.

I hope some civil engineers were down the prom today. In a not especially high tide, on a not especially windy day the sea was way above the sea walls, overspilling into the sunken gardens. With rising sea levels, within 20 years big storms will be ripping up most of the promenade unless major work is done. The rebuilding of the road is looking even more like a waste of money!

No one knows ..?

Hope you're wrong I have an appointment on Thursday ...

Good points Piebaps. I don't like the idea that a foreign jurisdiction can interrogate Manx company's accounts. It's a private company.

In the BBC news https://www.bbc.co.uk/news/uk-politics-46056337 The problem for Mr Banks seems to revolve around IOM and Gibraltar companies which the UK commission can't access. I thought we had opened our register to foreign regulators, but it seems not.

It takes clever people to see the reason for this, well above the intelligence of mf posters .....

BREXIT!!

According to the quotes above some farms are profitable. The answer therefore is let the unprofitable, inefficient ones go to the wall.

Reading that it looks about as easy as opening a bank account.

I would object if they were devout followers of Islam.