THE INTERNATIONAL BUSINESS MAGAZINE OF THE ISLE OF MAN

ISSUE 152ISLE OF MAN

CONTENTSDEPARTMENTS

News Government Features Travel Appointments Directory Lifestyle

The latestdevelopments

from some of theIsle of Man’s

leadingorganisations

Initiatives,proposals and

legislation fromthe Isle of Man

Government’s keyDepartments

Expert marketcommentariesfrom leadingprofessionals

within the Island’sprivate sector

A profile of twooff-Island

destinations: onein the BritishIsles and onefurther afield

A comprehensiveround-up of keyspecialist andprofessionalappointments

Island-wide

Airline timetables,a comprehensive

Isle of ManBusiness

Directory plusIsland info & stats

Popular featuresincluding ‘A Weekin the Life’; ‘Q&A’plus local events

and a UK Gig Guide

SPOTLIGHT

CainsAdvocates

namedLaw Firm

of the Year

Page 18

The ChiefMinister’s ‘Manx

State of theNation’ address

Page 20

Equiom SolutionsTax and WealthManagement

Seminar

Page 34

A fresh approachin the year ahead

for the Isle ofMan Government

Page 38

10 Years ofSuccess for 2015AICP Manx State

of the Nation

Page 50

Frank Bruno MBEto address

The Sporting &Dining Club

Page 72

Q&A: JohnRimmer, AdvocateJohn Rimmer andOf Counsel, Cains.

Page 73

PRODUCTION, CONTACTADVERTISING:

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EDITORIAL:Keith Uren

T: 01624 611100M: 07624 498740

E: portfolio@manx.net

Isle of Man Portfolio magazine is published monthly and is delivered toevery private and public sector business in the Isle of Man

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Financial institutions and Government Departments take copies forcirculation among their clients.

The magazine is also taken by several leading Isle of Man hotelsfor their guests.

Isle of Man Portfolio is also individually mailed to seniorprofessionals retained on the magazine’s database.

Isle of Man Portfolio magazine is designed and published by Keith Uren

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T: 01624 611100 | M: 07624 498740 | E: portfolio@manx.net

ISLE OF MAN

PORTFOLIOISSUE 152

© 2015Keith Uren Publishing Ltd

Gentlemen, in the

very publication

I hold in my hand,

I’ve discovered a

2010 Volkswagen

Passat 2.0 Highline

Estate, for under

£11,000!

MMM MotorMartMANX

The Isle of Man’s New and Used Car Magazine

News

ISLE OF MAN

ManSat supports satellite’s role in‘Better World’ campaign

Creechurch Capital scoops silver

Equiom’s Sheila Dean named‘Woman of the Year: Leadership’

Isle of Man SuperYacht Forum to Exhibitat Prestigious London Event

88% of Asset Management CEOs areconfident of revenue growth in 2015

Grant Thornton’s Platinum standard

Want a Manx Credit Union?Get your opinion heard!

Lower charges for Sure customers

Cains named Law Firm of the Year

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ISLE OF MAN

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sle of Man-based ManSat

Ltd is supporting a new

global awareness

campaign, ‘How Satellites Make

a Better World’, which

promotes the impact of

satellites on today’s society.

Organised by the Society of

Satellite Professionals

International (SSPI), the

campaign is collecting both

heart-warming and hard-

headed business stories about

the industry’s contribution to

the economy, business,

international security and

human welfare. More

information is available at

www.bettersatelliteworld.com

ManSat carries out satellite

filings for the Isle of Man under

a contract with the Isle of Man

Government's Communications

Commission. ManSat CEO and

Chairman Chris Stott is also

President of the SSPI, with his

term ending in March 2015.

He explained: “This is a wonderful

initiative, which highlights the impact

that satellites have on shaping the

world in which we live. From an Isle

of Man perspective, the last fifteen

years, the last fifteen years has seen

the Island become one of the

industry’s global leaders and home to

leading firms and nonprofit

organisations.”

The SSPI, an international

nonprofit group with headquarters in

New York, is the satellite industry’s

largest global professional

association. It is working with five

other trade associations to tell the

little-known story of the

transformative role of satellite

technology on disaster relief, disease

control, economic development, the

spread of democracy and global

business.

The SSPI says the global satellite

network is ‘one of the stellar

achievements of the 20th century’,

having transformed

telecommunications and

introduced technologies such

as GPS. In many ways, the

network underlies and enables

the global economy and is a

bridge to even greater

progress in the 21st Century.

The stories, gathered from

around the world, represent a

diverse range of successes,

from the increased rate of

mobile coverage in Latin

America, the eradication of

polio in India by the Bill and

Melinda Gates Foundation, to

rather eccentric occurrences,

including the role of satellite in

the design of the modern

football.

“The new campaign is

designed to broaden the

awareness of the satellite

option,’ said SSPI’s Louis

Zacharilla, one of the

architects of the new

campaign. ‘We believe it will

help us expand our presence and

inform people inside and outside the

industry of the role satellite plays as

the underlying technology that makes

social and economic progress

possible.”

The SSPI is encouraging companies

and individuals to support the campaign

by following the stories on Facebook:

www.facebook.com/SSPIglobal - and on

Twitter: www.twitter.com/sspi - by

using the hashtag #bettersatelliteworld

I

ManSat supports satellite’s role in‘Better World’ campaign

Right:Chris Stott

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ISLE OF MAN

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Creechurch Capital scoops silverreechurch Capital has gained

global recognition after being

awarded silver in the

Investment Management Company of

the Year (Isle of Man) category in the

prestigious Citywealth

International Financial

Centre Awards 2015.

Creechurch achieved its

shortlisting for the second

year, beating off

competition from a number

of large, well-established

companies. The company

was commended for its

absolute commitment to

service and for its vision to

deliver a personalised, agile model to

meet the needs of its clients.

Now in their fourth year, the

Citywealth International Financial

Centre Awards highlight the excellence

of the advisors and managers in the

private wealth sector in the major

international financial centres.

John Greenwood, CEO of

Creechurch Capital, said: “To be

recognised at the Citywealth

International Financial Centre Awardsis

a phenomenal achievement for the

team and something we can be truly

proud of. To compete with such

successful companies and win silver

demonstrates our credibility for such a

young company.”

“Where the business stands apart

from its competitors is the absolute

commitment to service and access to

senior-level counsel regardless of the

size of portfolio the client holds with the

business.

“Our ambition to be a truly boutique

and personalised investment manager

with a difference is working to underpin

excellent performance for our clients.

“Mixing a bespoke and individual

service, with unparalleled reach from

our network of partners across the

globe ensures we make a real

difference to our clients’ lives by

enhancing and protecting wealth.”

C

Equiom’s Sheila Dean named‘Woman of the Year: Leadership’

quiom Group is celebrating

its second award success of

the year after attending the

‘Citywealth Power Women Awards’ in

London.

Group Managing Director, Sheila

Dean, was announced winner of the

award for ‘Woman of the Year:

Leadership’ in the professional

services category.

Commenting on her achievement,

Sheila said: “To be recognised in my

position as a female leader of an

expanding global business is an

absolute honour and I am delighted to

play my part in championing women

in the private client sector. It is

gratifying to be recognised by both the

public and professional judging panel

and I would like to extend my thanks

to everyone who showed their

support by voting for me.”

Sheila’s passion for business

developed at an early age, and her

successful career with Equiom has

been founded on her belief in

building partnerships with clients and

intermediaries, some of whom she

has worked with for over 20 years.

Sheila has led the company through

two management buyouts and eight

acquisitions and has been shortlisted

and won numerous awards over the

last four years.

The Power Women Awards were

established by Citywealth to

recognise individuals and companies

which maximise the potential of

women in wealth, to highlight the

female leaders of today and

tomorrow, and to create a platform for

best practice to collectively exercise

positive social influence on the sector.

ERight:Sheila Dean

Below:Joshua Rebenstein, IFC sponsor

from Katten Muchin RosenmanLLP, presenting the award to

Creechurch Capital CEO,John Greenwood

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ISLE OF MAN

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N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

Isle of Man SuperYacht Forum toExhibit at Prestigious London Event

he Isle of Man

SuperYacht Forum will

be exhibiting at the

prestigious London Yacht, Jet

and Prestige Car Show.

This is a new show in the

luxury asset management

calendar and will take place

from 8th to 10th April 2015 at the

historic Thames-side exhibition

venue; Old Billingsgate, and the

luxury yacht marina; St

Katharine Docks by Tower Bridge.

It is billed by the organisers as

“Monaco comes to London” as it will be

bringing many of the large yacht and jet

and luxury goods companies which

exhibit at the annual Monaco Yacht

Show to London for the first time.

Visitors to this new event will see

exhibits from some of the world’s luxury

yacht builders and brokers, yacht

charter agents, yacht and interior

designers, private jet manufacturers,

luxury car manufacturers and luxury

goods and service companies.

Commenting on the Forum’s

participation at the show the Forum’s

Chairman Andy Roy said: “The Forum

has been in existence for ten years and

in that time the membership and our

collective activities promoting the many

benefits of the Isle of Man has grown

remarkably. Last year, for the first time,

we shared the Isle of Man’s Ship

Registry stand at Monaco and everyone

who participated and attended agreed

that it was a great success. We were first

approached by the organisers of this

new show some four months ago and

immediately saw its potential as a way

of promoting our various activities in

the global luxury asset management

market, and not just those tailored to

superyachts. The exhibitors are of the

highest quality and we expect the

visitors to be the same and it is worth

emphasising that the Isle of Man is the

only jurisdiction and Flag Sate that has

a presence at the show.

“The show has already attracted

considerable media coverage in the

financial and specialist media and we

expect even greater coverage once it is

underway.”

In addition to the SuperYacht Forum

other exhibitors include; Lürssen

Yachts, Abeking & Rasmussen, Amels,

Nobiskrug, CRN, Benetti Yachts, Trinity

Yachts, Fincantieri, Blohm + Voss,

Sunseeker, Princess, Oyster Yachts,

Azimut, Sunrise Yachts, Sanlorenzo,

Outer Reef, Westport, Vitters, Hodgdon

Yachts, Holland Jachtbouw, CNB and

the Ferretti Group.

On the brokerage and charter side,

several of the world’s largest brokerage

companies including Burgess,

Camper and Nicholsons,

Sunseeker Charters and Fraser

Yachts will also be exhibiting.

Located just 5 minutes walk

away from the main venue is St.

Katharine Docks where an

impressive collection of luxury

yachts will be on display in the

water, together with a Superyacht

Tender Show and a small craft

show, where some of the finest

‘small but luxurious’ boats can be seen

and experienced. In addition St.

Katharine Docks provides the Show

with a River Thames ‘dock’, where

tenders can shuttle VIP guests out to

even bigger superyachts moored

nearby on the River Thames.

Visitors to the show will enjoy

displays from each industry, as well as

an array of special events and activities,

including a Design, Fine Art, Watch and

Gift Gallery; an exclusive VIP lounge;

Fashion Shows; Design and Product

Showcases and Thames-side

Champagne and Cocktail Bars.

The SuperYacht Forum stand is

situated at M15 on the Mezzanine Floor

of Old Billingsgate Market.

Representatives from the Forum’s

membership and senior representatives

of the Isle of Man Department of

Economic Development and Ship

Registry will be on the stand to discuss

the Forum’s wide range of activities and

services to the superyacht and aircraft

industries and the management of

luxury assets.

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ISLE OF MAN

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sset management CEOs are

confident about revenue

growth, reveals a PwC report.

The firm’s 18th Annual Global

Survey of more than 1,300 CEOs,

which includes responses from 155

asset management CEOs in 46

countries, found a high 88% to be

either ‘very’ or ‘somewhat’ confident

about their revenue growth as they

look forward to 2015, rising to 95%

over three years. China and the US are

viewed as the most important

countries for growth prospects.

The findings echo the conclusions

of PwC’s ‘Asset Management 2020’

white paper. It predicts global assets

under management will exceed $100

trillion by 2020, up from $63.9 trillion

in 2012, with much of the growth from

emerging markets in Asia and Latin

America. It also predicts the

emergence of new fee models and

opportunities in products that could

disrupt traditional banking, as well as

the rise of passive fund and exchange

traded funds (ETFs).

However, with fees under pressure

from the rise of ETFs and passive

funds, asset management CEOs

remain vigilant on costs, with almost

half (46%) aiming to cost cut in 2015

and 28% looking to outsource.

PwC’s survey shows a fifth of asset

management CEOs plan to grow

through cross-border merger in 2015

and more than a quarter through

domestic mergers – a far higher

percentage than for the rest of

financial services.

More than a quarter reported

entering a new industry over the past

three years. A further 18% say they

have looked into doing so. Indeed,

PwC has seen asset managers disrupt

banking by, for example, acquiring

portfolios of real estate loans and

lending to corporates. Alternative asset

managers have broadened their

product ranges to include private

lending arrangements, primary

securitisations and off-balance sheet

financing.

Asset Management CEO’s see their

future competitors as coming from

technology, financial services or

business services. Already ‘robo

adviser’ business models are

appearing to threaten to disrupt wealth

management through automating

asset allocation.

From a business perspective, 68%

of asset management CEOs are

concerned about availability of key

skills whilst 63% fear mounting cyber

threats, such as data security, which

have become an ongoing business

risk. What is more, even seven years

on from the financial crisis, lack of

thrust in business remains a concern

according to 61%.

Nichola Christison, PwC Isle of

Man’s asset management director,

commented: “By 2020, technology will

have become mission-critical to drive

customer engagement, data-mining

for information on clients and

potential clients, operational efficiency

and regulatory and tax reporting. At

the same time, cyber risk will have

become one of the key risks for the

industry, ranking alongside

operational, market and performance

risk.”

While other sectors have tended to

make greater use of technology, asset

management CEOs are turning to it to

deal with cost pressures with 88%

reporting their main use for digital

technology as improving operational

efficiency.

On the regulatory front, asset

management CEOs’ anxiety about tax

issues is a constant theme. 67% in

PwC’s survey state an internationally

competitive and efficient tax system

should be a government priority in

their country, although half see

government as having failed to

achieve this. However, they do see

some benefits from regulation with

53% saying improved regulatory

coordination is increasing cross-

border capital flows.

In PwC’s view, future success in

this sector will depend on its attracting

not only the most skilled investment

professionals but also talented

individuals in areas like compliance,

technology and risk management,

which 77% of asset management

CEOs have indicated they are looking

to do.

Nichola Christison concluded:

“Asset managers face a volatile

environment over the next three years

but there has never been a time when

all the variables are completely

positive or negative. Compared with

three years ago, when the financial

crisis’s after effects were even stronger

than today, asset management CEOs

see both greater opportunities (65%)

and greater threats (56%).

Opportunities exist because of some of

the mega trends, for example, who will

gain competitive advantage through

disruptive technologies in the asset

management industry? But there will

also be challenges for those that do not

have a strategy to succeed in high-

growth areas.”

88% of Asset Management CEOs areconfident of revenue growth in 2015

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Grant Thornton’s Platinum standard rant Thornton’s Isle of Man

office has achieved ‘Platinum’

Approved Employer status for

Trainee Development from leading

industry body the Association of

Chartered Certified Accountants.

The recognition is the culmination

of months of work by the firm, which

employs 30 at its offices in Douglas and

Ramsey, and is the highest and most

prestigious level of the ACCA employer

programme.

To qualify for ACCA’s Platinum

status an employer must provide

extensive support to trainees, including

assigning an appropriately-qualified

mentor, performing regular progress

reviews and making financial

contributions towards the cost of

qualification. Achieving Platinum

status demonstrates the firm adheres

to the highest standards of training, has

reached agreed performance targets

and has provided evidence of continual

improvement and innovation.

Richard Ratcliffe, Director, said:

“We have been an ACCA Approved

Employer for professional develop-

ment and practising certificate

development for some time, but last

year embarked on the lengthy

assessment process to be recognised at

the Platinum level.”

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ISLE OF MAN

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embers of the Manx Credit

Union Working Party are

urging people to show their

support for a Manx Credit Union by

responding to the recently launched

consultation by the Isle of Man

Financial Supervision Commission.

The FSC has issued a high level

consultation document seeking views

ahead of the draft of a new Credit

Union Bill, in particular looking at the

regulations which should apply to

credit unions.

“We welcome the launch of this

consultation which represents a big

step forwards on our journey to create

a credit union for the people of the Isle

of Man,” said Manx Credit Union

Working Party Chairman David Talbot.

“We are appealing to everyone

who is interested in having a credit

union to write to the FSC to show their

support and say why they are behind

it. It is not necessary to have an

understanding of the legislative or

regulatory detail – we just need to

show there is a demand for a credit

union and what people want from it so

that the appropriate changes to

current law can be made.”

Ensuring any proposed changes to

legislation and regulation are fit and

proper is vital. “It is really important

that any new legislation is enabling

and provides scope for future growth

of a credit union,” says Mr Talbot. “We

have concerns that some of the FSC’s

suggestions, such as their comments

around savings and loans caps, would

be far too restrictive and would not

allow a future credit union to provide

the services its members would want.

“Having been frustrated in

launching a credit union by the

current gaps in legislation and

financial regulation, we don’t want to

find ourselves in the future being

hampered again by the introduction of

an over-prescriptive and narrow-

sighted framework now.”

The Manx Credit Union Working

Party is also pushing for amendments

to credit union legislation to be moved

higher up the Government’s agenda.

“The consultation re-iterates the

Council of Ministers’ view that the Bill

should be added to the legislative

programme as ‘a lower priority’,” said

Mr Talbot. “In reality that could mean

it is years before any new regulation or

legislation is passed.

“We believe the Manx public want

access to a credit union much sooner

than that and the more voices we have

calling for it, the better our chances of

achieving this.”

The FSC consultation is open until

13th March 2015 and can be found

online at www.fsc.gov.im

Want a Manx Credit Union?Get your opinion heard!

M

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ains Advocates has been

named as Law Firm of the

Year in the Isle of Man at the

Citywealth International Financial

Centre Awards.

The accolade recognises Cains as a

winner that has “excelled in

achievement, innovation, expertise

and service”.

The award was announced at a

dinner held at the Grange City Hotel in

London last night (Wednesday)

attended by major figures from law

and finance with international

yachtswoman Tracy Edwards the

guest speaker.

Now in their fourth year, the

Awards were established to highlight

the excellence of the advisors and

managers in the private wealth sector

in the international financial centres.

“In what has been a period of

extreme turbulence and continuing

change for clients this is when quality

advice is at a premium, it is when the

best of the best really stand out,” said

a spokesperson for the Awards.

Four other Isle of Man law firms

were shortlisted for Law Firm of the

Year.

The Awards are judged by an

international panel of highly respected

practitioners from all sectors with

experience of working with advisors in

all the jurisdictions covered which

include Gibraltar, Hong Kong, Jersey,

Switzerland, Singapore and

Luxembourg.

Jeremy Walton, head of Cains

Private Client department said: “I

know other shortlisted Manx firms

have been working very hard to raise

the international profile of the Isle of

Man and so it is very pleasing to win

this award against such strong

competition.”

Cains named Law Firm of the Year

CRight:Jeremy Walton

ure has improved its roaming

offering to guarantee their

‘pay monthly’ customers

receive best value service when using

their mobile phone away from home.

The savings are the result of Sure

working closely with other

international operators to establish

stronger relationships between the

networks for the benefit of customers.

The new offering is greatly

simplified enabling Sure to have the

same zones across international

calling and international roaming,

making it easier for customers to

follow the rates.

The most popular roaming

destinations for customers offer the

best value with the greatest

reductions in Zone 1, which

encompasses the European Union.

Customers roaming in Europe

could save as much as £7.50 per mb

under the new data roaming rates.

Lower charges for Sure customers

S

Government

ISLE OF MAN

The Chief Minister’s ‘Manx State of theNation’ address

Minister highlights growth in qualitytourism accommodation

Isle of Man variant British Passports tobe printed in the UK

Planning has key role to play in securingsustainable future

Extension of GovernmentTelecommunications Contract

Successful conference sets out Island’sclean energy plans

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ISLE OF MAN

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The Chief Minister’s ‘Manx State ofthe Nation’ addressThe Chief Minister’s delivered his State of the Nation speech to the

Alliance of Isle of Man Compliance Professionals at the VillaMarina on Friday, 30 January. Below is his speech, in full.

here is certainly plenty to

discuss this year but first I

would like to talk about

milestones, and about change and

sustainability.

2014 was a year which saw two

significant milestones on the Isle of

Man’s journey of development as a

leading international business centre.

The first was confirmation that the

Island had achieved 30 years of

unbroken economic growth.

It is a remarkable national

achievement to have maintained

growth and confidence over three

decades, particularly through the

global upheavals of recent years.

The outstanding resilience of the

Manx economy is the result of a

number of factors, not least the priority

that we give to our strategy of growth

and diversification.

To have reached a fourth decade of

continuous growth might be seen by

some as an excuse to rest on our

laurels and rely on momentum to

carry us forward.

In today’s fiercely competitive and

ever changing world I think that sort

of complacency would be a fatal

mistake.

As we look forward into 2015 and

beyond my message is that economic

progress must and will remain the

cornerstone policy of the Manx

Government.

We know from experience that we

cannot sustain our economic success

without working with the Island’s

business community and listening to

what you are saying to us.

One of the Island’s key strengths is

the close partnership that exists

between the Island’s private and

public sectors. We must all work hard

to maintain this constructive

relationship for the future.

The second major milestone last

year was the signing by the Isle of Man

of an historic agreement, placing us in

the vanguard of countries moving to a

new global standard for tax

information exchange.

The agreement was signed in

Berlin, in October, by 51 countries

committing to share information

automatically in accordance with the

Common Reporting Standard that was

developed by the OECD and endorsed

by the G20.

The Island has long been at the

forefront of support for a single global

standard as the fairest and most

effective way of achieving tax

transparency.

Having one global standard

minimises compliance costs for

businesses and governments, and

promotes a level playing field across

the jurisdictions.

The Berlin agreement confirms

that the Isle of Man really is in the first

division when it comes to tax co-

operation and transparency.

It underlines our position as a

reputable and responsible global

partner and is a further indicator of

our commitment to international

standards of transparency.

Change of such a range and

magnitude may seem daunting. But it

can also present opportunities for

those agile enough to adapt and thrive

in the new environment.

This challenge of adjusting to the

new world order is the big task in front

of us, and it is one that we must

address together.

In the Isle of Man we have been

quick to recognise the scale, pace and

significance of this change.

We are working closely with the

industry in developing the Island’s first

National Risk Assessment on money

laundering and terrorist financing.

Here we are also working in

partnership with the World Bank.

The National Risk Assessment is

preparing for next year’s MONEYVAL

inspection of our compliance with the

revised FATF recommendations.

In bringing together all the sectors,

regulators and relevant Government

agencies to analyse threats and

vulnerabilities, it is proving to be a

very useful exercise in its own right.

We have also worked with you on

major issues such as FATCA, the

Common Reporting Standard and the

implications of the Vickers Report on

Banking. On this latter point, I must

emphasise the importance, and

potential seriousness, of the matter for

our banking industry and the need to

resolve matters as quickly as possible.

We are working closely with our

colleagues in the Channel Islands to

ensure there is a co-ordinated

approach across the three Crown

Dependencies on responding to the

Vickers recommendations.

In relation to the ongoing

discussions over Beneficial

Ownership. I am grateful to those of

you who engaged in our recent

consultation exercise. We are

currently collating the responses we

have received which will then be

considered at political level to

determine a way forward.

I continue to reiterate to our

colleagues in the UK Government that

the Isle of Man has been collecting

beneficial ownership data for over a

decade, in line with FATF standards. It

has also supported law enforcement

agencies in obtaining information

when requested.

I understand that discussions on

Beneficial Ownership will be on the

agenda for the G20 meeting in

Brisbane, which is scheduled to take

place early next month. We will be

monitoring the outcome of these

discussions.

Sometimes it may seem we are

engaged in a thankless task. No sooner

have we moved to meet one standard

or threat, and then another emerges. I

hear you when you say that we are

reaching too far or setting our

standards far higher than other

countries believe necessary.

But I believe we have consistently

been vindicated in the decisions we

have taken, and that they have served

us well. Even Mr Cameron has

recognised the work we have

undertaken in his response to a

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question in the Common’s in

September 2013, where he stated, and

I paraphrase, I do not think it is fair

any longer to refer to the Crown

Dependencies as tax havens.

You do not need me to tell you that

all international finance centres are

going through an unprecedented

period of change in regulation and

legislation.

There is still much instability

internationally which has the potential

to affect us. Closer to home too, there

are uncertainties.

In 2015 we expect to see a new, and

potentially very different, UK

Parliament, which will bring

challenges but also new opportunities.

With further detail emerging on the

devolution agenda in the coming

months I will ensure that we continue

to develop and nurture our

relationships with the constituent parts

of the United Kingdom.

Following the UK General Election

we will also be watching with some

considerable interest the proposed

referendum on the EU and the impact

any possible opt-out decision could

have on our Protocol 3 agreement.

We will also specifically continue to

build on our partnerships with the City

of London and the North West

demonstrating that we are a key

partner for businesses. Only this week

I was back in London, as part of our

ongoing engagement programme,

meeting MP’s and hosting a lunch with

senior banking officials and

representatives of the City. We are

continuing to work with our business

sectors to open up new opportunities

for the Island around the world.

China is of particular interest to us

and, following on from what I believe

to have been a very positive visit last

year, I will be leading another Isle of

Man public/private sector delegation

there in April this year.

So how is our economy holding up

in a climate of major regulatory

reform and global change? The

answer is very well. 2014 was another

good year for the economy and the

prospects for 2015 are as good if not

better. That said, I could not let today

go by without making reference to the

disappointing news on the closure of

the Mount Murray Hotel, with the loss

of over 30 jobs. Government, through

the Department of Economic

Development, will be working closely

with the company over the coming

weeks to support the displaced staff

and also to investigate all options for

potential new investors in the facility.

Moving on, there does remain a

level of optimism. A number of

initiatives are under way to build on

our successes in line with the Vision

2020 strategy for our economic future.

We have invested £5 million in

supporting the increasing demand for

skilled engineers trained on the Island

through an apprenticeship scheme, as

jobs in this sector continue to grow at

around 100 per year.

E-business remains our fastest

growing sector. Government’s support

for the industry includes selling the

Nunnery site so that it can be

developed as a world-class IT training

centre.

The regeneration programme is

bringing new life to our town centres

and we are now working across the

Departments to unlock the investment

potential of key sites in Government

ownership. In particular the

redevelopment potential identified in

the recent Douglas Masterplan

document will be key to this initiative.

I share the view that the built

environment of a place can have a real

influence on economic confidence and

activity, so I am pleased that the Island

is making progress in this regard.

While the diversity of the Manx

economy is a source of strength and

resilience, we should not forget that

financial services is still the most

important single sector.

It is the largest export earning

industry both in terms of employment,

providing more than 10,000 jobs, and

national income, representing one

third of GDP.

Despite a testing global

environment and the continuing

evolution of the industry, employment

levels in the sector have held up well

in the past year and overall profits

have grown. These are encouraging

indicators of improving prospects for

the future.

The Island’s ability to evolve and

flourish has been clearly demonstrated

in the past. But we will need to think

outside the box if we are to forge new

competitive edges for the future.

And as if we didn’t have enough on

our plate at the moment, we are also

working towards a merger this year of

our regulators, the Financial

Supervision Commission and the

Insurance and Pensions Authority.

Both bodies have been serving the

Island extremely well under the sound

leadership of their respective chief

executives John Aspden and David

Vick.

I pay tribute to them both for their

outstanding work supporting the

international reputation of the Isle of

Man.

Bringing the two organisations

together is expected to create a

number of benefits in terms of

combined strength and efficiency.

The merger will be a further

milestone on the Island’s journey. It is

also an opportunity to revisit the

relationship of regulation to

Government and industry.

Government must ensure it maintains

an awareness of the commercial needs

of industry and that this continues to

operate in harmony with the relevant

level of regulation required for our

jurisdiction.

When I look back to when I was

elected as Chief Minister, the journey

began with the identification of this

Governments three key objectives of

balancing the budget, protecting the

vulnerable and - our key strategy - of

growing the economy. This I have

always stressed is fundamental to the

success of any Government and even

more so when you realise that we also

started from the point where we had to

deal with the loss of around one third,

or £200 million, of our VAT income.

So it has been no easy task to deal

with the pressures this created on the

public finances of the Island. Standing

here today I can reiterate that we are

on course to rebalance the

Government’s revenue budget this

year, though there is still much work

to do to rebuild internal funds and

reserves.

Achieving savings on this scale is

something that no previous Manx

Government has had to face up to. It

has been a difficult and at times

challenging process. We have stood

firm and resisted the easy option, and

ongoing political pressure, to make the

Island’s tax position less competitive.

It is a long road, but we are making

progress in the direction of

modernising the public sector,

slimming it down and making services

more sustainable for the future.

Throughout this process we have

reduced our full time equivalent posts,

across the organisation, by over 670

and for the first time in several years

seen an overall reduction in gross

expenditure.

So change is happening at home

and abroad, within the departments of

the Isle of Man Government as well as

in the spheres of international finance

and regulation. The point is that we

have to engage with change in order to

secure sustainability for the future.

That is as true for the economy as it is

for our public services.

I can give my absolute assurance

as Chief Minister that we will continue

to stand shoulder to shoulder with the

business community to ensure the

Islands continued safe passage

through these difficult times.

We have done it before and we can

do it again. As the national motto says,

whichever way you throw us we will

stand.

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ince the unfortunate closure of

the Mount Murray complex

attention has been increased

on the Isle of Man’s visitor

accommodation. The Minister was

keen to highlight the continued

importance of the sector along with

information on planned new

accommodation.

The Minister said: “In 2013 the

value of the Visitor Economy was £107

million. It also helps to enhance the

quality of life for our residents through

leisure and social activities, events and

restaurants that a population of 85,000

people can’t sustain. Quality of life is

also important in retaining and

attracting the highly skilled workers

we need to help grow our economy.

“The Tourism sector within the

overall Visitor Economy continues to

perform well and the indications we

have been given are that leisure

visitors staying in paid accommodation

increased over 10% in 2014 on the

previous year.

“We are continuing to work closely

with industry and they have advised us

that this success translated into a year

on year increase during 2014 in

accommodation occupancy levels,

passengers using our heritage

railways, coach bookings and off-

season ferry bookings.

“These achievements reflect the

success of our Visitor Economy

Strategy, launched in 2012, which set

out the need to drive up quality and

exploit new markets to develop the

Island as a year-round, distinctive and

unique visitor destination.”

There has been an increase in the

number of higher quality bed spaces

available in the Isle of Man which the

Minister felt reflected both increased

confidence in the sector and industry

reacting to changes in the market and

visitors’ desire for higher quality

accommodation.

The number of bed spaces at four

star and five star increased by 21%

between 2009 and 2014. Currently 53%

of bed spaces in the Isle of Man are

graded at either four star or five star.

Thirty-seven new accommodation

businesses were established in 2014.

During 2015 to date fifteen enquiries

have been received from new

businesses wishing to register

accommodation.

The Minister continued: “We have

the new Mannin Hotel which is

expected to be opened in Autumn 2015

which will provide over fifty new

bedrooms.

“Furthermore, there are high

quality developments being planned

which will potentially increase

accommodation provision further over

the short to medium term such as

Douglas Quayside, the Forge in Santon,

the Castletown Golf Links site, Park

Crest site in Ramsey and The

Grosvenor site in Port Erin.

“We are also seeing Planning

applications from existing

accommodation providers and

campsites looking to diversify into

providing upmarket camping, or

‘glamping’ as it is more commonly

known.”

Minister highlights growth inquality tourism accommodation

S

The Minister for Economic Development, Laurence Skelly MHK, hashighlighted that a number of enquiries have been received by his

Department from parties wanting to invest in new hotel and relateddevelopments within the Isle of Man’s Visitor Economy

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Top:Laurence Skelly MHK,

Minister forEconomic Development

pplications will still be

accepted and processed by the

Passport Office in Douglas,

with passports returned from the UK

via special postal delivery (included in

the fee). During the transition to the

new system, it should be noted that

applications for standard and 5-day

express passport services received on

Tuesday 17 February will not be

processed until Friday 20 February.

The Passport Office will continue to

deliver the same-day passport service

from Thursday 19 February up until

Thursday 19 March, after which this

service will no longer be available.

Using this service, any time left on the

old passport cannot be carried over to

the new passport.

From Friday 20 March, people who

are required to travel urgently can

apply for an Emergency Passport which

will be issued in the Isle of Man, with

restricted validity up to a maximum of

12 months.

The fees in the Isle of Man will

remain in line with UK charges:

• Standard passport service for

adults £72.50; express service (5

working days) £103

• Standard passport service for

children £46; express service (5

working days) £87

• Emergency passport service,

subject to conditions and with

restricted validity, £128

Annie Taylor, Senior Passport,

Immigration and Nationality Officer

said: “Printing in the UK will ensure the

security and integrity of the Isle of Man

variant British passport and the benefits

that go with it for international travel.

“From this implementation date,

Isle of Man applicants will receive a

New Generation British passport with

enhanced security features, making it

one of the most secure documents for

travel in the world.”

Current Isle of Man variant British

passports will continue to be valid until

the expiry date.

Isle of Man variant BritishPassports to be printed in the UK

A

Isle of Man variant British Passports will be printed from Thursday 19February 2015 at a central facility in the United Kingdom, increasing

security and making the service more efficient.

ork is continuing to take

place to modernise aspects

of planning legislation in

line with wider Government efforts to

streamline administration, enhance

transparency and deliver more

customer-focused services.

The Department of Infrastructure is

part of a new cross-Government team

established to help deliver major

developments. This initiative is being

coordinated by an officer seconded

from Planning to the Department of

Economic Development and includes

the Cabinet Office, Treasury and

Attorney General’s Chambers.

Public feedback is currently being

invited on the Draft Isle of Man Strategic

Plan 2015, which will help to underpin

decisions on development land

requirements across the Island until

2026. Outside of the land-based

planning system, the Department is

preparing new primary legislation to

deal with developments within the Isle

of Man’s territorial seas.

With significant activity taking place

and new and revised legislation in the

pipeline, Minister Gawne is taking the

opportunity to outline his role, and that

of the Council of Ministers, in the

planning process.

In the Isle of Man, planning appeals

are determined by the Minister for

Infrastructure after consideration of an

independent planning inspector’s

report. The Minister has the power to

allow or dismiss an appeal. The

Minister may in either case reverse or

vary any part of the initial decision

made by the Department.

Planning applications in which the

Department of Infrastructure has an

interest are referred to the Council of

Ministers for a decision, which is made

after taking into account the report

from the independent planning

inspector.

To assist Ministers in the delivery of

their duties, a bespoke workshop on

planning was recently hosted by David

Kaiserman, former planning inspector

with the UK Planning Inspectorate and

Director of Planning and

Environmental Health at Manchester

City Council.

Minister Gawne said: “Planning is

important to everyone in the Isle of

Man. It supports the Government’s

national priority of growing the

economy, while being sensitive to the

needs of local communities and the

environment. As Minister for

Infrastructure I have a key role to play

in the process, particularly in relation

to planning appeals. There may be

occasion when, after weighing up all

the evidence, I will reverse the

recommendation of an independent

planning inspector if I feel it is the best

interests of the Isle of Man to do so. The

documents and reports that inform the

decision-making process are available

to view online as part of our

commitment to openness and

transparency.”

He added: “A lot of work is being

undertaken within the Department to

reform areas of planning. I believe there

is scope to modernise processes and

reduce bureaucracy, while maintaining

the robust nature of our planning

system.”

The Department’s planning policy

and legislation is aimed at delivering a

number of national outcomes for the

Isle of Man, including:

• We will live in well-designed,

sustainable places where we are able to

access the amenities and services we

need.

• We value and enjoy our built and

natural environment and will protect it

and enhance it for future generations.

• We will adapt our natural and built

environment to cope with the threats

from climate change.

• We will realise our full economic

potential with more and better

employment opportunities for our

people.

• We have a strong and resilient

Island infrastructure that provides a

foundation for our economic and social

success.

Planning has key role to play insecuring sustainable future

W

Infrastructure Minister Phil Gawne MHK has highlighted theimportance of the planning system in securing a sustainable future

for the Isle of Man in economic, social and environmental terms.

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Above:Phil Gawne MHK,Infrastructure Minister

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he Cabinet Office says the new

contract will generate

significant cost savings,

recognise the expertise and capability

in Manx Telecom’s core services, and

optimise the opportunity for

competitive tenders where competition

exists in the future.

The wide ranging contract covers

six separate lots which were

successfully won by Manx Telecom in

2009 through an extensive competitive

tender process. It includes services

such as wide area networks connecting

over 220 sites across the Island, local

area networks providing infrastructure

to over 5,500 end customers, mobile

services to over 3,000 handsets as well

as other fixed line telecoms and

internet based services.

The original tender process

recognised that the telecoms market

would continue to evolve over the

period and more quickly in some areas

than in others. Consequently the

original process and Treasury

concurrence provided for the contract

to be extended for a further period of

up to five years or until such a time that

the market provided the opportunity

for a new competitive process to occur.

Following a lengthy period of

market analysis coupled with formal

and informal assessment with Manx

Telecom and other market providers,

the mobile and fixed line services have

been extended for a period of up to two

years. Manx Telecom’s contract for the

remaining services has been extended

for a period of up to five years.

Mark Lewin is Director of

Government Technology Services

which has responsibility for the

management and oversight of

telecommunications services. He

explained: “This is a major contract

allowing us to provide cost effective

integrated IT systems across the whole

of Isle of Man Government and we are

pleased to have completed the

negotiations with Manx Telecom.

“Through this process we have

been able to protect the critical

services and importantly secure

significant cost savings in a number of

areas. We have continued the process

of broader competitive dialogue where

possible which in this case resulted in

one of the smaller components in the

contract being awarded to another

provider. The contract now gives us the

ability to take advantage of new

technologies which will in time open

up further cost saving opportunities.”

Mr Lewin added: “Manx Telecom

is a strategic partner with a significant

amount of depth and breadth in

communications services, helping to

ensure the Island has a world class

telecoms infrastructure. Some critical

services are only currently available

through Manx Telecom and the

original contract recognised this,

allowing for the extension of individual

components as required. The contract

has therefore been extended in line

with this provision but with varying

terms reflecting our view of market

development. We look forward to

carrying on our work with Manx

Telecom and we will continue to watch

how the market and the underlying

technologies evolve.”

There will now be a full tender for

mobile and fixed line services within

the next two years and for the other

services within the next five years as

and when the market is optimised for

further competitive tendering’.

Mike Dee, CEO of Manx Telecom,

said, “We are delighted that Manx

Telecom remains so integral to Isle of

Man plc through our Government

partnership. In particular the

Government highlighted the value of

our recently launched 4G service,

which will allow them to continue their

efficiency drive by pursuing their

mobile working initiatives. The

Government remains our single

biggest customer and we look forward

to this new phase of our partnership.”

Extension of GovernmentTelecommunications Contract

T

The Isle of Man Government has renegotiated and extended its majorcontract with Manx Telecom plc for the provision of

telecommunications and network services.

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ver 170 people registered to

attend the Isle of Man business

breakfast event in London. Dr

Ken Milne, Director of Energy at the

Department of Economic Development,

hosted the event and outlined the many

benefits that the Isle of Man can offer to

clean tech businesses.

Other speakers included the recently

chosen preferred developers of the wind

and tidal projects within the Isle of Man’s

territorial seas, including representatives

from DONG Energy, Manx Tidal Energy

Ltd and Tocardo Tidal Energy Ltd.

Graham Cregeen MHK, the

Department’s Member with

responsibility for Clean Tech and Energy

commented: “Last year Tynwald

approved the offshore energy strategy

which was highlighted as a key strategic

theme in Government’s Vision2020

strategy.

“Vision2020 positions the Isle of Man

as a viable hub for offshore energy and

outlines the diverse range of jobs

associated with this, including

manufacturing and financial services.

The success of the Rushlight breakfast

seminar is a great step towards

achieving this goal.”

Successful conference sets outIsland’s clean energy plans

O

The Department of Economic Development hosted a successfulbreakfast seminar at the recent Rushlight Show, a leading event for

the clean tech energy industry.

Features

ISLE OF MAN

The new ‘Equality Challenge’: are you ready?

In the long-term, things change. Get used to it!

All’s fair in love (and tax…)

Equiom Solutions Tax and WealthManagement Seminar

A fresh approach in the year ahead for theIsle of Man Government

Should I stay or should I go:Tynwald retires a trustee dilemma

What you see is what you get: RL360°’s tipson creating your own video content

Burns Supper raises £11,000 for Hospice

SMP Partners identifies internationalopportunities at ICE in London

Marketing Matters:The value of effective web design

10 Years of Success for2015 AICP Manx State of the Nation

he anticipated impact of the

Bill is very wide and will affect

all businesses in every sector,

whether large or small. In this

edition, we explore in more detail

what this means in the employment

context, where employers may have

to get to grips with new concepts and

responsibilities, as well as ensure

their organisation is “culturally”

attuned to meet the standards that the

new legislation will require.

There is a clear competitive

advantage to be gained by employing

a diverse workforce and in embracing

the new focus the Bill brings to

providing equality of opportunity for

all. An organisation with a diverse

range of employees is well placed to

understand the needs of a wide range

of customers, and can interact with a

broad client base. Not only that, but it

is also in a good position to recruit

and retain staff in an increasingly

diverse and dynamic labour market.

Encouraging equality of

opportunity also means that talent can

be properly recognised and nurtured,

wherever it may be found within an

organisation. This also chimes with

the changes taking place in the

modern workplace where more

flexible working patterns are

becoming the norm and increasing

numbers of people from previously

under-represented sectors of the

working population are seeking full

participation in working life.

However, despite the advantages

of a diverse workforce, there are also

challenges and new legal duties

under the Bill that employers will

need to be prepared for. So, where

should you start?

Irrespective of the size of your

business, you can prepare for the

introduction of the new equality

legislation by:

• reviewing your employment

handbooks and policies to ensure

that they are appropriate and fit for

purpose, updating as necessary to

incorporate reference to the new

protected characteristics and

prohibited behaviours; and

• providing education and training

for line managers and employees

(i.e. change management, handling

more tricky equality points, ensuring

their understanding of the contents

of policies and procedures etc.)

The new ‘Equality Challenge’: areyou ready? (Part two)

In last month’s edition of Isle of Man Portfolio, Elaine Codona,Director of Global People Solutions, and Katherine Sheerin, wholeads the employment law team at Cains, discussed the draft

Equality Bill, which sets out to provide new legal rights for thosewith a protected characteristic, both in the workplace and in

accessing goods and services. “Protected characteristics” coveredby the Bill include: age; disability; gender reassignment; race;religion or belief; sex; sexual orientation; marriage and civil

partnership; and pregnancy/maternity.

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Right:Elaine Codona.

Far right:Katherine Sheerin

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Successful implementation of

equality policies only partly depends

on having the right HR documents

and written procedures; many of the

challenges are in delivering and

carrying these into effect.

Consequently, appropriate staff

training and organisational culture

play a big part in delivering genuine

equality of opportunity and

minimising employer exposure for

weaknesses in this area.

Global People Solutions and Cains

have teamed up to offer seminars

providing you with the tools and

know-how needed to ensure your

organisation is well prepared for the

new equality legislation. Let us run an

in-house seminar for you, with

training designed to deliver an

understanding of the key concepts

and an overview of employer

obligations, as well as providing a

“toolkit” and audit checklist to assess

whether additional measures may be

required to bring your organisation

into compliance with the new

requirements. We will draw on our

experience to provide practical

guidance and case studies to build

attendees’ awareness and put equality

issues into context.

Typically, we can advise on, and

facilitate understanding in, the

following core areas of HR practice

and employment law (amongst

others):

• the difference between the

concepts of “equality” and “diversity”

and how these aims can be

promoted and supported in the

workplace;

• equal opportunities obligations at

recruitment and the extent to which

an employer can make pre-

employment enquiries e.g. in

connection with health and

disability;

• diversity monitoring and positive

action;

• the different types of unlawful

treatment: discrimination,

harassment and victimisation;

• the ongoing employment

relationship: promotion,

performance management,

redundancy and disciplinary

matters;

• benefits and equality issues; and

• managing potential exposure from

the employer’s perspective –

responsibility for employees’

unlawful acts and best practice

approach.

At the level of individual protected

characteristics, we are experienced in

advising on some of the more

challenging and “thorny” issues that

may arise involving questions such

as:

• “What constitutes a disability and

what does the duty to make

reasonable adjustments require at a

practical level?”

• “What impact will the new

legislation have on managing long-

term sickness and capability issues?”

• “How might the protected

characteristic of “religion or belief”

affect workplace culture and what

particular issues might arise?”

• “Can I be held liable for the

harassment of an employee by a

third party (e.g. a customer or a

supplier)?”

• “What do I do if an employee raises

an allegation of discrimination,

harassment or victimisation in the

context of a disciplinary process?”

• “How do I assess whether an

employee with a protected

characteristic is, or may be, subject

to detrimental treatment giving rise

to potential legal liability?”

• “How should I deal with office

banter and what should company

policy be on relationships between

colleagues outside work?”

• “What happens where there are

potentially competing rights and

protected characteristics, e.g. in

relation to flexible working requests

by different employees?”

• “How do I avoid potential

discrimination in performance

management situations where there

may be age or disability factors?”

• “When may a difference in

treatment be justified for legitimate

purposes– e.g. where is the dividing

line between lawful positive action

to encourage gender diversity and

unlawful positive discrimination?”

• “How do the new equality

provisions – with particular

reference to race - interact with

work permit and visa

requirements?”

In addition to running seminars,

we can assist by undertaking equality

audits and by reviewing and updating

your organisation’s employee

handbook and written policies to

ensure equal opportunities are

promoted whilst prohibited

discriminatory or harassing

behaviours are dealt with adequately

in disciplinary procedures and anti-

bullying/harassment measures.

Where desired, and with regard to

the needs and values of your

particular organisation, we can advise

you on managing the changes related

to the introduction of the new equality

legislation and work with you on:

• changing attitudes from

management level downwards so as

to encourage a more inclusive

approach to people management;

• developing policies and practices

to help you attract and retain

diversity of talent taking into account

individuals’ changing needs and

responsibilities over the employment

life cycle (e.g. eliminating bias in the

recruitment process and in

promotion and performance

management; adopting flexible

working arrangements for

employees with caring

responsibilities etc.);

• addressing the causes of inequality

and creating a workplace with equal

access to training and promotion for

all (including by making reasonable

adjustments for employees with

special needs); and

• embedding equality as a core

corporate value and making its

attainment everyone’s responsibility.

Elaine and Katherine’s respective

areas of expertise mean that we can

combine the legal understanding you

need with invaluable input on the

employee relations and cultural

aspects of a successful equal

opportunities programme. Contact us

to discuss how we can support you

with the equality challenge.

Please get in touch with

jenny.maddocks@cains.com to book

a complimentary seminar. Please

note that places are limited and will

be allocated on a first come first

served basis, so don’t delay!

Global People Solutions and Cains have teamed up to offer seminarsproviding you with the tools and know-how needed to ensure yourorganisation is well prepared for the new equality legislation.

eaders of my previous

articles may have noted a

trend in the discourse – we

are seeing not just an ageing world

but a changing one, in terms of the

economic sphere of influence from

the so called ‘first world’ or Western

world as it is often called or, more

accurately, the northern hemisphere

(of Europe, North America and to a

limited extent, Russia) to the southern

hemisphere of Asia, India and Africa,

plus South America, with burgeoning

populations of aspirational, younger

populations. It may be true that the

global population should peak around

mid-century but the age profile has

changed and will change further,

away from China toward India / South

East Asia and then Africa.

With that evolution and ebb &

flow will come not just economic

development & growth but political

pressures by populations keen to

exercise some power and discretion

where their predecessors may not

have had much of a voice for

centuries, if at all.

The ‘Arab Spring’ clearly

illustrated how different outcomes

were and are possible; from smooth,

peaceful transition in Morocco to

reinstatement of military rule (Egypt)

to outright disintegration e.g. Syria

etc. So too, in China we have seen

enormous change in economic terms

with some albeit very gradual and

uncertain changes in the political

sphere, from Tiananmen Square to a

semi-democratic solution for Hong

Kong, pending any hoped for long-

term democratisation of China in the

future. The social stresses and strains

in Japan are also a cause for concern,

as they experience an absolute

decline in their population. Life is

almost never a straight road and the

one certainty we have is that things

will be uncertain!

We all experience change in our

everyday life here on the Isle of Man,

as do those living in the rest of the

world. The media, especially the

news media are forever attempting to

give us news ‘bites’, the ubiquitous

‘breaking news’, in an attempt to

keep the audience watching their

particular channel or reading their

output.

Social media is entirely focussed

on the ‘now’, the instantaneous item.

Politicians are becoming ever more

paranoid about managing their news

agenda – seeking to set the agenda

for the day, every day only to find that

they are constantly under pressure to

react and comment on the newest

release of information whether at

home or abroad. Remember New

Labour and that particular media-

management circus? Don’t tell me

that Messrs Cameron, President

Obama and the other western leaders

don’t wish they could manage the

newsrooms of the leading media

players as Mr. Putin does in Russia,

which while the country is rapidly

going down the economic & financial

plug-hole, he has managed to retain

an 80% popularity rating!

Long gone are the days of setting

an agenda for a political term. We live

in an age of news and political

commentary overload – it has

become a world (well some of it at

any rate) obsessed with news

manipulation and control. A

significant effect of this is that we

move quickly on from one headline to

another, as politicians vie to lead and

then react to the agenda they seek to

push and daily events that unfold.

Unfortunately, irrespective of the

importance or vapidness of any

particular news item, the agenda gets

pushed on by the media just as

R

In the long-term, things change.Get used to it!I know, I know, in the long term, we’re all dead – that’s true too butfirst let’s live a little (and, from a personal aspirational viewpoint,

let’s try to leave this world just a little better than when wearrived) . . .

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By Alan Molloy,Managing Director,

A 2 B Consulting Limited

N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

quickly as the politicians. I don’t

blame technology per se: mobile

telephony and things like the World-

Wide-Web have been fantastic

developments and helped the world

immeasurably, in social, political,

economic and, let’s face it, human

terms! Wonderful inventions. I am

sure though that social-

anthropologists can explain our

fascination with the ‘instant’ rather

than the lasting (?)

Speaking of ‘instant’ and ‘lasting’,

let’s see how many of us will be able

to remember a couple of things that

politicians of each flavour promise

the electorate in the run-up to the

forthcoming UK general election in

May after six months of the new

government there! I doubt we will be

able to recall much of any real

substance.

However, speaking of the speed

of political and economic change, let

me briefly comment upon some other

items of more lasting importance and

relevance to us all – the rise of the

Asian giants (China & India) and

regional economies. They are an

interesting example of the speed with

which such real economies can and

do develop, rather than the western

world’s obsession with ‘sound-bite’

politics and the difficulties that such

a short-term agenda can have upon

economies and business.

China has seen literally dozens of

airports built in and around cities

with whose names we in the west are

not even familiar. They have built a

1200 kilometre canal to ‘solve’ a

water shortage in areas of drought.

There may be an argument as to its

effectiveness (or the government’s

waste of resources in seeking to

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Continued overleaf. . .

Above:Narendra Modi whopromised “toilets inevery house”; both apromise for actualdevelopment in hiscountry’s sanitationand a metaphor forIndia’s developmentin general . . .

impress their population and possibly

the world as to their ability to

undertake such vast projects) but one

has to admire the scale and speed of

their undertaking. One may question

the point of building vast ‘ghost’

apartment block developments which

surely reflect a government’s

determination to be seen to support,

encourage and manage the pent-up

economic desire of their population

but in the end may prove

economically unsound. The problem

with such dramatically fast

infrastructural investment is the risk

of long-term unaffordability. Debt is a

real issue. Bad debt may be a subject

that will test the Communist Party

management of the economy and

population.

After China as the engine-room

(and the ubiquitous manufacturer) of

the world, comes India, with all its

potential. How will Mr. Modi deal

with his countries needs and those of

the region?

Well, Narendra Modi was elected

Prime Minister of India in May 2014

on a wave of enthusiasm and support

for his promise of real change.

Whilst there has been an evolution of

change in India, it doesn’t really

compare with China for its drama

and headline impact. For sure, China

was moving from an almost feudal,

post-Cultural Revolutionary society of

the 1980s to world leading IT and

manufacturing in the 2000s whilst

India has seen more evolutionary

change – not undramatic but

definitely more gradual. Indeed, Mr.

Modi’s election was a reaction by the

electorate to the perceived inertia or

lack of demanded improvement in

the lifestyles and aspirations of the

fast growing population. Modi

promised ‘toilets in every house’ –

both a metaphor for development

and, if the fact be known, a major

step forward on the road to

development. India suffers from poor

sanitation, poor infrastructure (e.g.

cold storage, warehousing, roads

etc.) which leads to food waste of

approximately 30% of its grain

harvest. That is a shocking situation

in any country but especially in one

where approximately 40% of its

children are malnourished. It also

has a major groundwater problem

through agricultural overuse and

poor sanitation. Power production

and the management of the electrical

grid is also an issue. With a

population likely to overtake that of

China as soon as 2030, things need to

improve and improve fast!

On the other side of the balance

sheet, India has a huge well of

educated talent. Whilst it has a below

average literacy rate, at c75% vs 84%

worldwide, it has a tide of educated

graduates and technicians. Whilst

Chandran Nair, in his FT Opinion

column states, quite rightly, that to

set up industrial parks (of the sort

desperately needed), you need decent

roads, a reliable electricity supply

and a responsive bureaucracy, it is no

coincidence that existing foreign

investments in India have been

almost exclusively in the few states

that meet this standard.

Mr. Modi, early in his premiership

appeared to look to bureaucrats to

lead the changes he believes are

required. One might be forgiven for

thinking that they have been the

problem rather than the solution but

Mr. Modi had achieved great success

as Chief Minister in his home state of

Gujarat, where he relied heavily on

the civil service to implement his

desired changes and achieve his

objectives. As The Economist

remarked in its October article

“Remaking India”, Mr. Modi spends a

lot of time with civil servants,

preferring to meet them instead of

ministers. Meetings are corporate in

style, with him assuming the CEO

type role, setting dates for specific

targets or ‘deliverables’, resistant

bureaucrats are transferred etc.

Indeed, a big reshuffle in October

saw a liberal Rajasthani reformer

become the finance ministry’s top

bureaucrat. So, Mr. Modi does appear

to be attempting to put ‘all his ducks

in a row’.

There are huge schemes

underway, including a biometric ID

database called Aadhaar (with 690

million people enrolled out of total

Indian population of 1.2 billion), bank

accounts being opened for millions

(so that benefits can be paid directly

to recipients, thereby avoiding scams,

skimming or waste).

So, whilst his first three

international trips to global leading

economies (China, Japan and the

USA) are of very limited benefit to his

population in the near term at least,

India is on the cusp of being the

world’s largest economy but it needs

to upgrade its infrastructure, educate

and develop its greatest asset – its

people. It has significant advantages

in the elite educated graduate

population that can assist in the

development of the country. It has a

legal system that (generally) works

but can get mired in bureaucracy and

delay (no different to Italy then!). It

has a huge public/civil service – this

should be a real asset but, due to

historic reasons, it can interfere

dreadfully in commercial matters and

cause potential foreign interest to

wane. It has high tariffs i.e. barriers to

entry and foreign ownership that is

beginning to be broken down, albeit

gradually.

In summary, India is an economy

that is poised to overtake all others

within about 20 years, if only the

building blocks can be put in place for

it to achieve its potential. If it does not

do so, it will only have itself to blame

– but that will be no consolation to

anyone there who sees the

possibilities pass them by. Mr. Modi

has the opportunity to go down in

history as the man who did the most

to help India achieve its potential.

This will not be achieved by instant,

big budget items, like sending

satellites to space. He should seek to

avoid the G3 or G8 attempts to sell

him expensive trinkets (vast, costly

‘baubles’) and stick to his election

promises of dealing with the basics

i.e. sanitation, clean running water,

roads, education, electricity and so

on, while his adoption of biometric

and electronic financial systems

provide a sound base for managing its

finances with transparency!

He has started with some

significant plans and real signs of

adopting and adapting his previous

state premiership to that of the

national stage. So far, so good.

Ensuring that the army of civil

servants are also accountable will

greatly assist the process. All of these

things are already underway. Mr.

Modi needs to ensure that momentum

is maintained and he is not distracted

for the task. That way, he can ensure

his place in history and India’s place

in the world!

In the long-term, things change. Get used to it! (Continued)

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his change needs to be seen in

context. Successive UK

governments have plunged the

country ever deeper into debt and there

is a perceived need to do something

about it. Mostly this has focussed on

squeezing spending but there is also

some effort being made to increase the

tax take.

Most developed countries impose a

capital gains tax of some description and

the UK is no exception. Similarly, they

usually impose the tax on both gains

made by residents on assets anywhere

in the world and gains made by non-

residents on assets located in the

country charging the tax. But the UK is

the exception here. Until recently, it has

only imposed CGT on its residents. It’s

an easy win for HM Treasury to extend

the tax to non-residents’ gains on UK

assets. It also supports the ‘fairness

agenda’ to tax everyone in the same way

on their UK gains.

At the time of writing we don’t yet

know exactly what the rules will be but

based on what has been published so

far, it looks like they will be something

like this.

Who is affected?Individuals, private companies and

trusts will be subject to the tax but most

multi-national corporations and large

investment funds will not. Most

partnerships will be looked through and

the gain will be attributed to the

individual partners. We need to be

careful with LLCs. We tend to think of

these as being just like partnerships but

legally they are companies and the UK

tax system sees them as just that.

What assets are affected?The new tax only applies to UK

residential property. Other UK assets

(offices, shops, sporting estates, etc.) are

outside the scope. Exactly what

constitutes “residential” has thrown up

some interesting results; sheltered

accommodation is residential but care

homes are not; accommodation for

nurses at or near hospitals is residential

but most types of student

accommodation are not.

How will the gain be calculated?Only gains arising after 5 April 2015

will be taxable. If you bought a property

before that date and sell it after that date

you can either time apportion the whole

of the gain or calculate the taxable gain

by reference to the property’s market

value on that date. Companies will be

technically subject to corporation tax

rather than CGT so they should also be

able to set an indexation allowance off

against the gain.

What will the tax rate be?For companies it will be the

corporation tax rate which is expected

to be 20%. For individuals it will be

either 18% or 28% depending on how

much other UK income and gains they

have. Individuals will also get an ‘annual

allowance’ in the same way that UK

residents do. Trusts will be taxable at

28% and will get an annual allowance

equal to half of what an individual gets.

Interaction with ATEDA couple of years ago the UK

introduced the Annual Tax on

Enveloped Dwellings (ATED) that

applied to a relatively small number of

UK residential properties and CGT is

already charged on properties subject to

ATED. This new tax could therefore

result in a double charge. To avoid this,

the rules will state that where a gain is

subject to both, the ATED-related CGT

will take priority.

What does it mean for us?Put simply, with effect from 6 April,

any gain we make on the sale of our

holiday home or buy-to-let house or flat

in the UK will be subject to the tax.

Exactly how much tax and how and

when we pay it will depend on whether

we own it personally or through a

company, whether we are currently

filing UK tax returns and whether the

property is also subject to the ATED

regime.

There’s no need to panic though.

Remember, it’s only that part of the gain

accruing after 5 April that is taxable.

It’s also hard not to notice that whilst

Joe Bloggs is hit with the tax charge,

neither the billionaire who rents out a

multi-storey office block in the City or

Docklands and owns a grouse moor and

salmon river in Scotland nor the private

equity fund with a large and diverse

buy-to-let portfolio have anything to

worry about.

Beating up the little guy might be fun

but is it fair and is it really going to raise

a significant amount of revenue for HM

Treasury? So much for the ‘fairness

agenda’!

T

All’s fair in love (and tax…)Historically, the UK has only imposed Capital Gains Tax on its

residents. That is changing and starting this April, people livinghere (and elsewhere) will become subject to CGT on their holiday

home or buy-to-let investment across. This article looks at the newrules and some of their peculiarities.

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By George Sharpe,Tax Director,

PwC Isle of Man

N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

Equiom Solutions Tax and WealthManagement Seminar

A Tax and Wealth Management Seminar for local residents andtheir advisers was held at the Palace Hotel on Tuesday 20th

January. The event, hosted by Equiom Solutions Limited, part of theinternational Equiom Group, was attended by 140 local delegatesincluding individuals and representatives from the legal, property

and finance sectors.

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NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

he speaker line up included

Equiom Solutions Limited

Managing Director John

Nugent and Tax Directors Phillip

Dearden, Helen Woods and Kevin

Renshaw. They were joined by guest

speakers Dermot Hamill, Head of

Wealth Management, and Richard

Stanley, Investment Director, from

Canaccord Genuity Wealth

Management.

The Seminar was opened by

Phillip Dearden, a well-respected

member of the Isle of Man financial

industry and regular speaker at

industry events. Mr Dearden

specialises in providing offshore tax

planning advice to individuals and

local trust and company

administration businesses. He

introduced the panel and gave an

overview of the topics to be discussed.

John Nugent began proceedings

with an overview of tax planning for

Isle of Man Residents. As Managing

Director of Equiom Solutions, Mr

Nugent is an expert in offshore tax

planning, with extensive experience

of providing advice to wealthy

individuals, family trusts and

corporate groups.

His presentation addressed the

key elements to consider when

planning an individual’s tax affairs,

with a focus on new Manx residents,

as well as those leaving the Isle of

Man. He explained the importance of

carefully structured estate planning,

minimisation of lifetime taxation,

effectively passing on wealth and

minimising estate and future

beneficiary taxation. He also

explored the tools that can be utilised

to achieve this, such as asset holding

arrangements, efficient Wills and

carefully structured trusts.

Having provided an outline of the

taxes that are potentially at stake forISLE OF MAN

PORTFOLIO ISSUE 152

TAbove:

Equiom SolutionsPhillip Dearden addressing

a busy captive audienceat the Palace Hotel.

ISLE OF MAN

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beneficiaries in different

circumstances and giving case study

examples to illustrate scenarios, Mr

Nugent concluded by summarising

some of the difficulties that can arise

upon a person’s death.

Next in line to speak was Helen

Woods who addressed the topic of

residence and domicile. Helen is

involved in many areas of offshore

and UK tax, with particular expertise

in trusts and estate planning. She

began her presentation by

highlighting why it is important to

know where an individual is resident

and domiciled and the impact this has

on an individual’s exposure to UK

taxes.

She explained: “Until recently,

there has been very little regulation

regarding UK residence; previously

decisions were made based on a

combination of minimal legislation,

HM Revenue & Customs (HMRC)

practice and case law. The new

Statutory Residence Test (SRT),

introduced in April 2013, provides

clarity to what was previously a grey

area”.

Ms Woods went into some detail

about the SRT and explored the three

parts of the test which need to be

taken into account. Examples were

used to illustrate the effect of the SRT

and how it affects individuals wishing

to leave the UK as well as those who

have been resident in the Isle of Man

for some considerable time, but spend

additional time in the UK. Touching

briefly on Isle of Man residence, she

explained: “Whilst it is often relatively

straightforward to establish residence

in the Isle of Man, it is possible to be

resident in more than one country at

any one time. As a result, an

individual may have established

residence in the Isle of Man, but may

still be exposed to taxes in other

jurisdictions”.

Ms Woods concluded her talk by

highlighting some of the issues

regarding the establishment of

domicile, including the importance of

domicile for UK inheritance tax

purposes and the difficulties that can

arise, particularly for individuals who

have previously been domiciled in the

UK.

Kevin Renshaw continued the

seminar with an examination into

how Isle of Man companies can be

used to hold various assets. Mr

Renshaw has a wealth of experience

of professional tax services, having

advised many clients and companies

on all aspects of Isle of Man taxation.

His presentation considered the UK

Inheritance Tax benefits that an Isle

of Man domiciled person can obtain

through structuring a UK portfolio via

an Isle of Man investment company.

In addition, he compared the Isle of

Man tax profile of personal ownership

versus ownership via an Isle of Man

investment company, which

incorporated a review of how this has

changed since the introduction of

Zero Rate Corporate Tax in 2006.

The effect of the Distributable

Profits Charge, and its replacement -

the Attribution Regime for Individuals

(ARI) - were also reviewed and some

time was spent examining the

Distribution Concession, explaining

the practical effect that it has, as well

as investigating the ordering system

introduced by the Income Tax

Division.

Mr Renshaw addressed the Loans

to Participators legislation, stating:

“This should not be overlooked – a tax

charge can be created where loans

remain unpaid at the year-end”.

Having provided case study

examples to illustrate the tax

outcomes of various ownership

structures, Mr Renshaw concluded:

“Tax planning needs to be bespoke; a

client’s personal circumstances are

critical and there must always be a

good commercial rationale for any

restructuring”.

Richard Stanley, the first of two

guest speakers invited from

Canaccord Genuity Wealth

Management to provide a wider

industry overview, continued

proceedings with an evaluation of the

Shares are sitedwhere the shareregister is maintained;meaning shares in UKincorporatedcompanies arenormally UK situs.Similarly, debts arenormally sited wherethe person who owesthe liability is resident,which could be the UK

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Continued overleaf. . .

Equiom Solutions Tax and Wealth Management Seminar(Continued)

36RR

ISLE OF MAN

PORTFOLIO ISSUE 152

outlook for financial markets. As

Investment Director for Canaccord,

he is a member of the firm’s Asset

Allocation Committee and has

extensive investment management

experience.

Mr Stanley assessed the 2014

financial market performance of a

range of investments and stated that

the year had been “polarised” in its

results. He made particular reference

to Government Bonds as the “stand

out asset” in terms of returns. A

detailed analysis of inflation was

provided and he predicted that

interest rates will remain low for the

foreseeable future.

In addition to this, Mr Stanley

indicated that: “Consumer confidence

should be supported by the global

economic recovery, continued

improvements in the housing market

and lower energy costs”.

Some focus was placed on the US

economy with reference to the

slowing economic momentum

outside of America and it was noted

that at some stage, US policy may

become less accommodative, leading

to rising interest rates. The

presentation was concluded with a

prediction of three per cent economic

growth for the global economy in

2015.

After a short break, the Seminar

continued with an overview of estate

planning for Isle of Man resident and

domiciled individuals, presented by

Phillip Dearden. He began by

reiterating Helen Woods’ point

regarding the importance of ceasing

UK residence and domicile when

moving to the Isle of Man, in order to

be free of UK estate taxes.

Mr Dearden observed that

individuals who are properly

domiciled in the Isle of Man remain

exposed to UK Inheritance Tax in

respect of UK situs assets. To put this

into context, he made particular

reference to shares and debts, stating:

“Shares are sited where the share

register is maintained; meaning

shares in UK incorporated companies

are normally UK situs. Similarly, debts

are normally sited where the person

who owes the liability is resident,

which could be the UK”.

He emphasised that this general

rule is thought not to apply in the case

of debts created by a deed, which had,

until recently, been assumed to be

located where the document

recording the debt was located. Mr

Dearden explained that HMRC has

recently challenged this view so the

position with these ‘Specialty Debts’ is

now uncertain.

Mr Dearden concluded: “Having

ensured that an individual is Isle of

Man resident and domiciled and does

not hold any UK situs assets, their

estate should not be exposed to UK

estate taxes. However, a Will must still

be prepared and this has to provide for

Cash yields will remain low for an extendedperiod, bonds are currently very expensiveand yields have fallen significantly,although there are still opportunities for‘strategic’ bond managers

Above:Equiom Solutions’ Tax Director,

Phillip Dearden

ISLE OF MAN

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a final destination for the client’s

assets. If the funds are significant, it

may not be optimal for the full estate

to be passed to UK resident family

members as the funds would then be

back within the UK tax net”.

Dermot Hamill, the second guest

speaker of the morning, took the final

slot to discuss investment strategy. As

Head of Wealth Management for

Canaccord Isle of Man, he is lead

portfolio manager for a significant

number of the firm’s global stock

specific and multi-manager

portfolios.

Mr Hamill began by providing

predictions for a number of

investment opportunities. He

commented: “Cash yields will remain

low for an extended period, bonds are

currently very expensive and yields

have fallen significantly, although

there are still opportunities for

‘strategic’ bond managers”.

He further observed that equities

are the favoured asset class over the

long term, as markets are expected to

drift higher. In referencing property

as an investment, he stressed that

yield rather than capital growth will

drive returns.

Mr Hamill advised that five main

factors drive returns on assets;

economic growth, inflation, income

yield, currency fluctuations and

changes in valuation bases. He

stressed: “Long term investors

seeking to balance the needs of

current and future beneficiaries must

have enough invested in real assets to

ensure income rises at least in line

with inflation”.

Mr Hamill emphasised the

importance of diversification when

compiling an investment portfolio and

illustrated this with an example, but

reminded the audience that success is

dependent on the strength (or

otherwise) of the economic

environment.

The Seminar was summarised

and concluded by John Nugent. A

number of questions were taken from

individuals in the audience, with a

few topics resulting in enthusiastic

debate and dialogue with the

speakers. Delegates were invited to

join the speakers and Equiom

Solutions team for lunch, which

provided opportunities for guests to

discuss in more detail, the topics of

their choice, with the relevant

speakers.

Equiom Solutions Limited hosts

regular tax seminars in the Isle of

Man and Channel Islands. The highly

qualified and well renowned senior

tax team provide a wealth of

experience on a range of tax topics to

both individuals and corporates.

If you would like to contact one of

the speakers, or to receive more

information about Equiom Solutions

Tax Seminars, please email

jillbennett@equiomgroup.com

Above:Equiom Solutions LimitedManaging Director,John Nugent

Left:Equiom Solutions Limited:Susan Hall, Andrew HunterBehind: Glenn Cassidy

he temptation is for Tynwald

members to take comfort

from the fact that many other

jurisdictions are in a worse position

than the Isle of Man. This is a very

dangerous stance to take; being the

last ship forecast to sink is a false

comfort which is not something to be

proud of.

Of course, government must

maintain a positive attitude to assist

business and personal sentiment in

making further investment in our

economy at the same time as

addressing the very serious issues

facing our economy. These are many,

but can be summarised as follows:

TransparencyWe have all seen new government

initiatives in recent times which have

met apparent resistance from the

public. Examples include the so

called toilet tax and proposed parking

charges. At least part of the reason for

the resistance is that government

does not properly inform the public of

its plans and why they are needed.

Frequently, government is seen

(unfairly) to be making unnecessary

cuts, whereas the reality is public

funds are running out and urgent

measures are needed to balance the

books. Too often, it would seem,

Tynwald members believe that the

public should not be informed of

matters that may alarm them, or are

what they deem ‘not to be in the

public interest’. This is clearly

nonsense for most matters.

So, what should the public be told?

Examples of what we need to know

are:

i. What is the Isle of Man economy of

the future that we are aiming for?

If we don’t know what type of

economy we aim to be, how can we

assess what measures are needed to

get there? This will involve a very

long term plan with periodic time

based objectives and goals.

For example, this may include

having funded civil service pensions.

We know the current regime is not

sustainable and, more importantly, to

attract civil servants in the future they

need confidence that they will

actually get paid the pension they are

promised. Their ‘pension fund’ needs

to be segregated and independently

managed.

ii. What adjustments to our existing

economy are required in order to

achieve the economy of the future?

This should set out the

adjustments required to make our

economy more self-sufficient in the

future e.g. transferring civil servants

to funded pension schemes.

iii. How are the adjustments going to

be made?

Clearly, expenditure cuts

combined with revenue raising

exercises will be needed so these

should be spelt out. For example, this

will set out the very painful exercise

of moving civil servants on a phased

basis to funded pensions.

iv. What are the ‘real’ government

income and expenditure figures?

We are told the finances will be

balanced by 2015/16. This is simply

not true as it does not take account of

various reserve balances, such as the

capital reserve, which are forecast to

be used up by 2015/16. Thus, the

annual reporting regime needs an

urgent overhaul so that the real

revenue deficit is known. Perhaps

then the public will better understand

the dire situation we are in.

v. Part of the above process will

involve prioritising reforms. An

immediate matter to address here is

to bin the Equalities Bill. The

objectives of the Bill appear sound,

T

A fresh approach in the year aheadfor the Isle of Man Government

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The Isle of Man has much to be excited about but we also havevery significant issues to deal with in common with many, if not all,

other western economies.

By Andrew Gerrard,Managing Director,

Harding Lewis Limited

Recent changes to theTax Cap have been

badly handled and thisneeds to be re-

assessed to make surethe Isle of Man still

offers the very besttax incentives. We

must never forget thatthe wealthy subsidiseservices for the restof us and we should

never cut off thehands that feed us.

ISLE OF MAN

PORTFOLIOISSUE 152

but the consequences of it are far

reaching and far too burdensome at

the current time. What on earth is the

government doing spending vast

sums on this when there are clearly

other reforms needed with much

higher priority?

Government finances and structureIt is well documented that current

expenditure levels are not sustainable.

Recent efforts to contain it have been

very minor compared with the overall

correction required. As part of the

long term plan, short term measures

need to be announced.

Although it would be very

unpopular, I would like to see means

testing introduced in many areas, for

example GP visits and state pensions.

It appears this is partly underway

already, but the roll-out needs to be

quicker and across more areas

although some initiatives will need to

be brought in on a phased basis.

Another key element of reform

needed is with regard to making the

government workforce more flexible.

This will entail standing up to the

unions so that removing incompetent

or excess staff is far less expensive but

at the same time making the civil

service an attractive place to work.

Clearly, high unemployment should

be avoided as an objective, but at the

current time it appears that some key

front line jobs are on occasion held by

people not fit for the role, and this

cannot be acceptable. Of course, I

should stress that we are fortunate to

have some good people in

government.

The economy of the future will be

very different to what exists now, and

individuals will have to be more self-

sufficient, with only those in financial

need in receipt of hand outs.

Economic GrowthLast, but not least, government

should never lose sight of the need to

attract new industry and wealth to the

island. This is an area I believe the

government has done some good

work on but much more will be

needed, including better marketing

and awareness. As part of this process,

we must continue to encourage

wealthy entrepreneurs to the island

and job creation should be

incentivised. Recent changes to the

Tax Cap have been badly handled and

this needs to be re-assessed to make

sure the Isle of Man still offers the very

best tax incentives. We must never

forget that the wealthy subsidise

services for the rest of us and we

should never cut off the hands that

feed us.

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dams Co. involved a

professional negligence suit

brought against the English

law firm Theodore Goddard (now

Addleshaw Goddard) over purported

negligence in its retirement of two

trustees to facilitate the transfer of a

trust from England to the Channel

Islands.

The salient point in the decision

was that in replacing the two

individual trustees with a company

which was not a trust corporation, the

requirements of the English Trustee

Act 1925 (the English Trustee Act) had

not been complied with and therefore

the appointment had not been

effective to discharge both of the

trustees. In essence, a trustee who

purported to retire remained as

trustee and would still be personally

liable for breaches of trustees’ duties.

This might also mean that a trust has

not divested itself of an unwanted

residency status leaving on-going tax

and regulatory implications.

The Isle of Man Trustee Act 1961

(the IOM Trustee Act) is very similar

to the English Trustee Act, and Manx

trusts are currently subject to similar

restrictions as those delineated in

Adams Co. Manx trusts cannot have

more than four trustees at one time,

and must have at a minimum two

individual trustees or a trust

corporation (unless a settlor creating

a trust has decided otherwise). A trust

corporation is a corporate, meeting

certain conditions prescribed by the

IOM Trustee Act, including a

requirement to hold an appropriate

licence issued by the Isle of Man

Financial Supervision Commission

(the FSC). It does not describe just

any company acting as a trustee, as

highlighted so explicitly in Adams Co.

Traditionally the reason why two

individual trustees were required by

statute law was to guard against the

misuse and misappropriation of trust

assets. Although trust corporations

can act alone as a trustee, they are

intended to be monitored by their

internal corporate governance to

provide a check against abuse. They

are also subject to the supervision and

regulation of the FSC. However, the

reason why trust corporations are

afforded special status over

companies acting as trustees has

become less clear; and further to this,

the sentiment of the trust industry is

that the statutory requirement for two

individual trustees has a prohibitive

role in administering trusts. With

these arguments in mind, and in the

knowledge that there is a well

regulated and professional trust

industry in the Island, Tynwald has

included in the Trusts Bill the

abolition of the requirement to have

more than one trustee, whether

corporate or individual.

The Trusts Bill also demonstrates

further progressive developments in

Manx trust law, and in particular the

abolition of the rule against

perpetuities.

A

Should I stay or should I go:Tynwald retires a trustee dilemmaFourteen years ago the decision of the Honourable Justice Evans-

Lombe on a preliminary issue in the case of Adams Co. Int. TrusteesLtd v Theodore Goddard [2000] W.T.L.R. 349 (Ch D) highlighted aparticular nuance of English trust law: the status of the trust

corporation as a trustee. The Trusts (Amendment) Bill 2014 (theTrusts Bill), which now awaits Royal Assent, addresses the role

and importance of the trust corporation in Manx trust law, providinga change in the law that will assist trust practitioners in the futureadministration and transfer of trusts to and from the Isle of Man.

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By Andrew Newton,Advocate

and Alicia Cain, Associate(Solicitor, England & Wales),

Appleby (Isle of Man) LLC

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

Getting startedVideo has become a

must for businesses who

want to get their

message across in a

quick and striking way.

But not every

business wants to spend

in the region of £5/6,000

with an agency to

produce their video. As

budgets tighten, it’s time

to think laterally. In

other words, can you do

it yourself?

Here at RL360° we

asked ourselves that question after

deciding we needed a series of 4

videos showing how to use our new

online services.

We understood that our busy

Financial Advisers and their clients

don’t have time for long slide

presentations, they want something

quick, engaging and user friendly. We

acknowledged we had some talented

staff with some serious tech and

creative skills whom we knew would

rise to the occasion.

We decided to take the plunge.

Step one: researching andpurchasing equipment

You’ll need a good quality video

camera, along with lighting,

microphones and a backdrop.

But there are two things to do

before you buy them: Research the

best products available within your

budget and ensure you have

somewhere big enough and quiet

enough to use as a studio.

For the research, the usual

feedback on sites such as Amazon,

Currys and, in particular, YouTube

will do the job. For the camera, the

key considerations should be image

quality, price and usability.

Always buy a camera with the

highest possible resolution. You can

reduce the resolution later if

necessary but you can’t increase it.

We bought a Canon High

Definition Camcorder

Our camera cost in the region of

£1,000.

When the equipment arrived, after

a bit of testing we discovered the

camera’s microphone was insufficient

for our needs and so we bought a

separate clip on microphone.

We also decided we wanted to use

a green screen rather

than a simple white

backdrop so that we

could create different

backgrounds in post-

production. This meant

purchasing extra

lighting to eliminate

any shadow. Using a

green screen means

you will need the right

editing software – we

already had the Adobe

After Effects package.

Step two: preparationand presentation

Once your studio is set up and

you’re familiar with the way all the

equipment works, it’s time to look at

content.

Sit down and plan out exactly what

you want the viewer to take away

from your video and how you want to

present your message. It may be that

you want to film a simple address to

camera or, like us, you may want to

do something more complicated

involving animation.

Either way, it is vitally important

to spend time getting the script right.

Corporate videos tend not to be

too long – up to 4 minutes max

depending on the subject – so the

script needs to be written with that in

mind. You don’t want to pack your 4

minutes full of words, leave room for

pauses otherwise your end result will

be overwhelming. The way people

What you see is what you get:RL360°’s tips on creatingyour own video content

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Nigel Danzelman, Marketing Services and Communications Managerat RL360°, gives us his team’s experience of creating video

marketing tools, used to show clients how to get the best of thenew range of online services offered by RL360°

Right:Autocue system created

using an iPad Air, somefree software, and a

modified tripod

ISLE OF MAN

PORTFOLIOISSUE 152

speak differs vastly from the way they

write so take that into account when

putting your script together.

Avoid wording that will trip your

presenter up. For instance,

alliteration is a definite no no, as are

long sentences. The text should be

chopped up into palatable segments.

An autocue is key. Our solution

was home-made but very effective.

We used an iPad with free autocue

software, built our own base unit

modelled on a tripod, with a shelf for

the iPad and 45 degree glass for the

camera to shoot through.

The software allowed us to alter

the speed and size of the text and

break the script into segments. You

could view these segments as scenes

and mark each one with a card

presented to the camera, that way

when you come to edit the video you

know which section is which.

Above all, tailor what you write to

the person who will actually be

reading it.

Which brings us on to your choice

of presenter. Don’t necessarily go for

your most senior staff – unless their

presence is particularly relevant.

Different members of staff have

different strengths. For instance, our

presenter for our training videos was

Nicola Holt, a member of our

technical marketing team, who

happens also to have a past life as a

radio presenter. Take advantage of all

of your staff’s skills, whether they are

work or non work related.

What the presenter wears is

important. There should be no

chequered or striped clothes and

avoid green at all costs if you are

using a green screen.

And don’t forget to provide your

presenter with a drink of water!

It does take a while to get things

set. Give yourself time to make some

mistakes, you’ll get some amusing

outtakes.

Step three: post-productionThis is where it all comes

together.

You may, as we did, want to create

an introduction to your videos. Ready-

made intros can be found on video

libraries at a good price and these can

be personalised to your company.

Our editing work was done in

Adobe After Effects. We have a very

skilled marketing services team and

so we involved both our tech and

creative staff.

There are far cheaper and even

free software packages that will do

the editing job but they will only take

you so far.

Step four: promotionOnce the video is done, where do

you put it and how do you encourage

people to view it?

We host ours on YouTube with a

link from our own website. We also

promote our videos as you would any

piece of news – on LinkedIn, via

email, on our own website and among

staff.

What we learned• It’s fun! Staff found putting

together our videos an enjoyable

learning experience, something very

different from the day to day work

they are involved in.

• The whole process of making 4

videos from scratch took

approximately 3 weeks. We expect

this timeframe will reduce the more

experience we gain.

• Overall, we spent in the region

of £1,300 on getting set up.

• We learned not to cut corners to

start with. Do everything in full as

only by doing that will you know what

you don’t need to do next time.

• Content is key.

• Get the script right!

Most importantly, we learned that

we want to be even more ambitious in

the way we film things in future and

are committed to providing more and

more video content over time.

Take a look at what we’ve done

so far by visiting YouTube

https://www.youtube.com/channel/

UCCia-zto-EAcaQ0m-EL6oDw

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Above:Nicola Holt beingfilmed as shepresents theIntroduction toOnline Dealing video

ith The Ellan Vannin

Pipes & Drums band out

in full force welcoming

guests as they arrived and the tables

in the main hall decorated with 18

different tartans the scene was set for

one of the largest Burns Suppers to be

held on the Isle of Man in recent

years.

Over 180 guests celebrated the life

and work of ‘Rabbie Burns’ in an

evening full of tradition and

spectacular entertainment but there

were also some not-so-traditional

twists. Notably the chefs “Haggis Bon

Bon” – a delicious nouvelle cuisine

version of haggis, neaps & tatties

which delighted some of the diners

but not all…!).

Tim Glover, Manx Radio, acted as

Master of Ceremonies and presided

over the evening with his usual

charm and persuasiveness. Thanks

to Tim’s auctioneering skills, and the

generosity of the guests on the

evening the grand sum of £11,000 was

raised for the charity. Some of the

Directors of Thomas Miller and

Thomas Miller Investment

participated in the proceedings by

giving the traditional Welcome, the

Selkirk Grace and The Immortal

Memory of Robert Burns but the

highlight of the evening was

undoubtedly Thomas Miller

Investment’s CEO, Mike Balfour, who

took to the stage and with great

panache gave 'The Address to the

Haggis’. Mike’s theatrical and fluent

eight verse presentation was a sight to

behold and provided a great intro to

the festivities, especially for those

attending a Burns Supper for the first

time.

The ‘Toast to the Lassies’, the

‘humorous’ speech of the evening was

superbly delivered by Guest Speaker

Ian Robertson, the BBC rugby

commentator and former Scottish

International. Ian’s wit and wicked

sense of humour along with his

wealth of sporting anecdotes and one

liners provided for an after dinner

speech that was both enthralling and

at times stomach-achingly funny.

In reply local lass, Kristene

Sutcliffe, delivered a robust response

with her thoughts about the modern

male – this was much enjoyed by the

lassies but far closer to home than

most of the laddies in the audience

would care to admit!! Kristene,

accompanied by David Kilgallon, also

provided the evening’s musical

entertainment with beautiful

renditions of Robert Burns’ ‘A Red,

Red Rose’ and ‘A Highland Lad My

Love Was Born’.

To conclude the formal

Burns Supper raises £11,000for Hospice Isle of Man

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On the 22nd January, Thomas Miller hosted a Burns Supper andCharity Auction in the Royal Hall at the Villa Marina in aid of

Hospice Isle of Man.

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THE INTERNATIONAL BUSINESS MAGAZINE OF THE ISLE OF MAN

ISSUE 152ISLE OF MAN

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proceedings The Speaker of the

House of Keys, The Hon Stephen

Rodan delivered a speech entitled

‘The Twa Lands’ which highlighted

the unity between the Isle of Man and

Scotland, before handing over to Sir

Miles Walker, Chairman of Hospice

Isle of Man who closed the evening

with a heartfelt Vote of Thanks.

As a finale, led by Ellan Vannin

Pipes & Drums, the evening came to

an end with rousing renditions of

Auld Lang Syne and the Manx

National Anthem.

Ian Jarrett, Chairman of Thomas

Miller Isle of Man was delighted with

the success of the evening,

“The idea of holding a Burns

Supper for clients and guests came

from Mike Balfour, a Scot and CEO of

Thomas Miller Investment which has

its Private Investment Management

onshore headquarters in Edinburgh.

It had been four years since we last

hosted a large corporate event on the

island and we were very keen to put

on a function that would be slightly

different from the norm. I am truly

grateful to those who supported the

event and I never cease to be amazed

by the generosity of the Manx

business community who helped us to

raise £11,000 for such a worthy

cause.”

Speaking of the Event, Margaret

Simpson (CEO of Hospice Isle of Man)

said, “We have worked with Thomas

Miller on a number of occasions and

were thrilled when they approached

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us last year to say they were looking

to do a fabulous Burns night in order

to raise funds for our charity. The

event was absolutely stunning; the

attention to detail was second to none.

To raise £11,000 from this event was

a true testament to all the hard work

put in by the team at Thomas Miller. I

cannot thank them enough for a

wonderful evening and for their huge

donation – this will cover over a

month’s nursing and medical care

that our patients receive in the In-

patient Unit day and night.”

Thomas Miller, an independent

and international provider of

insurance, professional and

investment services, have been

present on the island for over 30

years. From its headquarters in

Douglas its 45+ staff offer Captive and

Investment Management services as

well as being the home of Hellenic

War Risks, a leading provider of

mutual war risks to the Hellenic

shipping community. The last 6

months has seen the business grow,

with Thomas Miller Investment

taking on 3 new members of staff as it

looks to strengthen and expand its

international business from the

Island. As part of its Corporate Social

Responsibility, Thomas Miller will be

looking to continue their support of

the island’s charities, during 2015 and

beyond, through its regular donations

and participation in a number of

community based projects.

Special thanks must go to all those

who supported the event through table

purchases, as well as all those who

donated prizes for the raffle and items

for the auction: Anna Clucas, Baker

Tilly Isle of Man, Claire Christian

Couture, Greyney Mooar Fine Arts,

John Morphet & Pure Leisure Group,

Nails by India, Samphire Restaurant &

Bistro, The Tartan Group & Wilkins.

Last but by no means least a thank

you to Taylor Made Events for

coordinating the room décor, David

Mason of The Empress Hotel for

serving a sumptuous Bill o’ Fare and to

Mannin Media Group for donating the

menu and auction cards.

*All photography courtesy of Pete

Williamson.

Burns Supper raises £11,000 for Hospice Isle of Man(Continued)

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avid Hudson, SMP’s Group

Director with responsibility

for business development,

has been reflecting on the state of the

industry after returning from major

international e-gaming conference,

ICE in London.

The three-day conference,

attended by thousands of industry

insiders, is one of the leading forums

for discussing the developments,

challenges and opportunities in

international e-gaming. David and

representatives of SMP’s 30-strong

gaming team were in attendance,

meeting colleagues and clients to

discuss SMP’s services and the Island

as an online gaming jurisdiction.

SMP’s gaming team represents

more than half the Island’s licensed

gaming companies, making it the

dominant provider and a major

contributor to the sector – SMP

Partners is the third largest employer

of gaming professionals in the Isle of

Man.

Speaking on his return from ICE,

David said: “The Isle of Man, like its

offshore counterparts, is facing up to a

number of challenges at the moment,

for example moves by many European

countries to introduce their own

licensing regimes and seek to extract

duty from gaming companies offering

games to their residents. In addition,

and perhaps of even greater

significance, the UK’s introduction of a

domestic licensing regime and point of

consumption tax has impacted the

Island's proposition as a licensing

jurisdiction.

“Operators, whether start-up,

small-scale or even those with

considerable scale, can no longer rely

on one licence; multi-jurisdictional

licensing will be the norm and it is to

be hoped that the Isle of Man can

develop an identity and proposition

that not only retains the licensees it

has, but can create a niche within the

increasingly competitive licensing

environment.

“Indeed, the pressures being

exerted on offshore licensing

jurisdictions are very evident;

Alderney has now reduced its licence

fee to £17,500 for the first year and

Jersey have set theirs at £15,000.

Whilst the Island needs to maintain its

high standards and regulatory rigour,

thought does need to be given to the

creation of a more flexible licence

payment regime that can appeal to the

new entrant. The Isle of Man's ability

to compete as a gaming jurisdiction

over the next few years will very much

depend on its ability to create an

environment that harnesses the fiscal,

technical and social attributes it has to

attract a wider pool of gaming-related

companies while adapting its licensing

framework to ensure it can continue to

attract the small-scale operator - the

main driver of growth in licensing

numbers over the last five years.”

David added “What was clear

during our many discussions at ICE

was the fact that the Island retains an

excellent reputation and is seen as a

business friendly jurisdiction. We

spoke to many people who had heard

excellent things about the Island and

who want to work with us to fully

explore their options with regard to

licensing and establishing operations.”

David said there are clearly

opportunities for firms like SMP

Partners, which has built a team of

experts and a capability that goes

beyond licensing and has relevance

across wider international markets.

He concluded: “While we continue

to create jobs and build our on-Island

team of experts, which is already very

strong, we have recognised there are

opportunities to develop our service

offering into one that is not exclusive

to Isle of Man licensees and has a

wider international appeal; ICE has

proved once again that our unique

capabilities are very much in

demand.”

SMP Partners identifies internationalopportunities at ICE in London

Developments in the online gaming industry have producedchallenges the Isle of Man must face up to, but have also created

international opportunities for SMP Partners.

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Left:David Hudson,SMP’s GroupDirector withresponsibilityfor businessdevelopment

Marketing Matters:The value of effective web design

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This month, Ashgrove Marketing’s Creative Director Leigh Windelland Digital Media Manager Jess Brown discuss the importance of

function and layout in designing for the web.

Your content is asintegral to your site as

its design andfunctionality. Onesimply cannot be

without the other.Attention spans are

waning and, as the riseof video proves, your

audience now has verylittle time for lengthy

prose.

LW: There is a common

misunderstanding when it comes to

web design, which I imagine is much

the same as that experienced by

architects. Yes, we want to make

everything we touch as pretty as

possible, and there are a few tricks

which make that quite easy to do. But

where the real skill comes in is in

making something pretty and

functional, and to understand that

you have to understand your user and

the technologies available to them.

JB: In many ways the relationship

between the evolution of website

structure and the evolution of

internet and device processing

capacities can seem contradictory.

Global fixed broadband speeds

increased from an average of 11.3

Mbps in 2013 to 16Mbps in 2014, and

are expected to nearly triple, from

16Mbps to 42Mbps, by 2018. Back in

2012 you were considered quite the

big deal (amongst select circles) if

your smartphone processor hit 1GHz,

whereas today a whopping 3GHz is

the norm. And where 1.4Mpbs was

the average mobile network

connection speed in 2013, this is

expected to exceed 2.5 Mbps in 2018,

and 7.0 Mbps for smartphones. In

short, then, web-designers and

developers now have every excuse to

create the technically sophisticated

and elaborate websites they had

always dreamed of back in 2010, but

websites are in fact getting more and

more simple. Strange? Well, no,

actually.

LW: Like all things marketing, the

best way to figure out why this might

be is to look at your own behaviours,

and then apply them to everyone else.

Do this, and you’ll find it makes

perfect sense that someone who has

invested only milliseconds waiting for

a web-page to load is more likely to

skip between pages than someone

who has invested, say, 4 or 5 seconds.

It’s the same principle as losing the

TV remote: you’re far more likely to

watch something you didn’t mean to

if changing the channel means

getting up and walking all the way

across the room. Add that to a huge

rise in the number of websites out

there and the result is that as

technologies get more elaborate, web

layout is getting simpler and far, far

more efficient.

JB: Probably the clearest articulation

of this can be seen in the recent

ascendance of the vertical scrolling

website. You’ll have almost certainly

seen this before in its various forms:

you land at the homepage of a

website and, rather than choose from

a navigation bar of ‘second tier’

pages, simply scroll down. Some

websites, like mashable.com, feature

an infinite scroll – a single page

which constantly retrieves content

and seemingly never lets the user

reach the bottom. Others, like

dailymail.co.uk, feature a top-line

navigation bar and set a timeline

limit per page, but feature very deep

pages to accommodate as many links

as necessary. Locked scrollers,

alternatively, allow the user to scroll

through a website but momentarily

pause the action at specific junctions,

a services page say, while others still

feature a vertical scroll interspersed

with horizontal sections for more

complex functions.

LW: Then there’s parallax scrolling,

the most sophisticated of the genre.

Available in simple or ‘full parallax’

form, parallax sites use multiple

layers of text and imagery which

travel asynchronously in time with

the user’s action in order to give the

illusion of depth of field. Properly

executed, a parallax site can be a

work of art; at once entertaining,

distracting, informative and

unerringly efficient. If you want a

jaw-dropping example, visit

journey.lifeofpimovie.com, you won’t

be disappointed.

JB: For commercial purposes, each of

the above structures subscribes to

just a few critical principles of

modern web-design: the immediacy

of the message, and the convenience

of the user journey. We want to

encourage the user to imbibe the

entire modus operandi of the

company whilst never deviating from

your chosen route to conversion – the

‘buy now’ or ‘contact us’ button. They

may stop to look at videos, read about

the team or browse services en route,

but getting back on track is never

more than a click away. So, how else

can this be achieved?

LW: Modular grid systems have been

in vogue for quite some time now and

look to become even more refined as

2015 progresses. Probably the

clearest example can be seen in

Microsoft’s styling of Windows, from

Windows 8 to the latest iteration, 10.

This blocked style has since been

adopted across the spectrum of

digital applications, providing a

flexible and intuitive means of

navigation for a variety of content. If

properly designed, each block or

module can be made to be functional,

eye-catching and clearly indicative of

its purpose. Here, again, clarity and

brevity are critical. The aim is to lead

the user through the site as quickly

and conveniently as possible, but

giving them plenty of options all the

while for more complex websites.

JB: Full bleed is the third and

ISLE OF MAN

PORTFOLIOISSUE 152

probably most popular expression of

simplicity in modern web-layouts.

Featuring wall to wall imagery,

minimal content and straightforward

navigation, these websites are

designed to draw the attention of the

user to just a handful of messages

whilst making the route to

conversion available at all times.

More recently, some designers are

starting to use a full screen split, but

this is predominantly an aesthetic

move. More recently still are full

bleed video sites, whereby the entire

background will be rendered into a

(preferably silent) video good enough

to draw the eye but not detract from

the message. If anything, full bleed

video is the perfect expression of the

strange relationship between design

and technology. Even as devices and

net speeds improve enough to

support these full sized videos,

designers are deliberately using them

to simplify everything else.

LW: As a closing note, it would be

remiss of me to discuss the basics of

web-layout without a quick nod to

content and copy. Your content is as

integral to your site as its design and

functionality. One simply cannot be

without the other. As we’ve discussed

earlier, attention spans are waning

and, as the rise of video proves, your

audience now has very little time for

lengthy prose. Don’t waste your time

telling your audience how brilliant

you are: people will corroborate that

for themselves via third party review

sites and social media. And don’t wax

lyrical about the intricacies of your

services – they should already know.

Indeed, if you’ve orchestrated your

marketing properly your audience

should have all the information they

need long before they land, so let

them get on with the conversion

without obstruction and prove your

worth with your response.

JB: And to close; mobile and tablet.

The importance of mobile responsive

websites for businesses has been

stated, and stated, and stated, and yet

if you haven’t optimised already, still

cannot be overstated. Last year alone,

global mobile data traffic grew an

enormous 69 percent, from 1.5

exabytes per month at the end of 2013

to around 2.5 exabytes per month in

2014. Almost half a billion mobile

devices and connections were added

in 2014 and connection speeds grew

20%. Then there’s traffic and search:

according to InMobi, traffic from

wireless and mobile devices

exceeded, for the first time, traffic

from desktop devices last year at a

60% to 40% split, while 70% of

mobile searches lead to action on

websites within one hour. That is

assuming, however, that the site is

mobile optimised, otherwise 40% of

customers will go elsewhere.

Ultimately, a lecture on the

importance of mobile is another

discussion entirely, but when it really

comes down to it there is no

argument. If you’re not responding to

mobile it doesn’t matter how pretty

you are or how efficient your layout

is; most of your customers won’t see

you in the first place.

Above:Leigh Windell (left)Jess Brown

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ICP Chairman Mr Graeme

Snape opened proceedings

with a welcome address

which celebrated the growth of the

AICP since its establishment in 2005.

He recognised the increasingly

prominent role the compliance

profession plays in helping to shape

the Island’s reputation as an

international regulatory leader and in

becoming a responsible global

partner.

Mr Snape then welcomed Chief

Minister Allan Bell for the first of the

day’s keynote speeches, which

described two milestones of change for

the economy. Mr Bell’s full speech at

this event is reproduced on pages 20

and 21.

Chief Executive of the FSC, John

Aspden, and Chief Executive of the

IPA, David Vick then gave a local sector

update. Mr Aspden cited priority areas

for the FSC as being consumer

protection, banking reform, the

national risk assessment and the

registration for AML supervision of

Designated Non-Financial Businesses

and Professions, or DNFBPs. Mr Vick

focused on the work ahead for the IPA

in further enhancing its regulatory

framework to comply with the revised

International Association of Insurance

Supervisors’ Insurance Core

Principles. He commented that a

further update to the IPA’s regulatory

roadmap could be expected and also

updated the audience on the Island’s

approach to Solvency II equivalence.

Both Mr Aspden and Mr Vick

recognised the impact of the FSC and

IPA merger on resources and work

programmes but committed to

remaining focused on the important

areas of work required.

Colin Goodwin of the Income Tax

Division and Annemarie Hughes of

Dougherty Quinn then discussed tax

information exchange requests. For

the benefit of the floor, Mr Goodwin

began by detailing the practicalities of

submitting a request for tax

information, after which Ms Hughes

described the process of responding to

such a request. Both presenters were

keen to point out the importance of

complying with information exchange

regulations, the likelihood that these

will grow in number in the future, and

reminded delegates of the 90 day

response deadline.

International perspectives formed

the basis of discussion for the morning

panel session, during which the AICP

was pleased to welcome Chris

Hamblin, Editor of Offshore Red, Nick

Maxwell of Transparency

International and John Baker of

MONEYVAL. Together, they discussed

such issues as beneficial ownership,

the practical applications of FATF

requirements, and preparation for the

Isle of Man’s forthcoming MONEYVAL

assessment. The Island’s success in

balancing its role as a leader in

financial services regulation with its

subsequent exposure to the policy of

larger, onshore jurisdictions and

territories also formed the focus of a

series of enlivened debates which

neatly introduced the presentation that

followed, ‘DED initiatives – what is

being done and how compliance

functions can assist’.

Conducted by the Department of

Economic Development’s John

Spellman and John Garland, this

presentation tackled a number of

issues of particular pertinence to

today’s business landscape. Chief

amongst these was the perceived role

of compliance professionals as ‘gate-

keepers’ of new business opportunities

and, as such, the importance of

remaining commercially minded in

that capacity. Both acknowledged that

the burden of international regulation

was such that the Isle of Man is no

longer as responsive to economic

opportunity as it once was, but that the

Island’s professionals were

nevertheless looking to the future to

create a measured business risk

environment in which to flourish.

The DED’s Chief Executive of e-

Gaming Development, Peter

Greenhill, and Siân Jones of crypto-

currency compliance consultancy,

COINsult followed lunch to discuss the

challenges and opportunities of

decentralised applications for the Isle

of Man. Measures to attract and

mitigate the risk of cryptocurrency

business were high on the agenda, as

were the ramifications of press

surrounding the technology. Closing

remarks centred upon the European

Banking Authority’s 2014 Opinion on

Virtual Currencies, with Ms Jones

emphasising that although it

represents a solid foundation on which

business could educate their

compliance departments, many of the

risks listed are by no means unique to

crypto-currency business.

PwC’s Financial Services Advisory

Partner, Miles Kennedy, measured the

performance of the major banks upon

a ratio of risk to commerciality, finding

that many of the major banks were

failing to support businesses in their

bid to create a responsible and

enterprising economic climate. More

effective risk management procedures

were urged, as was the need for

compliance professionals to work

together to assuage banks’ reticence to

engage new business during a period

of significant reform.

The final session of the day saw

Mark Denton of The Association of

Corporate Service Providers, Mark

Waterhouse of the Isle of Man Bankers

Association, Paul Kneen of the Isle of

Man Funds Association Committee,

Gill Marples of the Manx Insurance

Association, and Mr Spellman discuss

the impact of increasing regulation on

industry, the cost of compliance,

industry consolidation, banking, and

the Island’s economic development.

Moderated by Ita McArdle, highlights

included the issue of reciprocal trust

between businesses and regulatory

bodies, particularly in light of the

proposed FSC and IPA merger, as well

as the importance of remaining client

focused in the face of increased

regulatory responsibility.

A

10 Years of Success for 2015 AICPManx State of the NationOver 200 compliance and financial services professionals gatheredat the Villa Marina in January to celebrate the tenth anniversary of

the Alliance of Isle of Man Compliance Professionals signatureevent, the annual Manx State of the Nation summit.

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ISLE OF MAN

PORTFOLIO ISSUE 152

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

Travel

ISLE OF MAN

BELFAST CITY AIRPORT:NOW BETTER CONNECTEDAir France KLM have announced a newdaily service to Amsterdam Schipholfrom Belfast City Airport commencingon 18th May

BELFAST-BOUNDCitywing provides your 30-minute hopto Belfast, now one of Europe’s mostcosmopolitan cities . . .

In association with

N e w s | G o v e r n m e n t | F e a t u r e s | Tr a v e l | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

ISLE OF MAN

PORTFOLIO ISSUE 152

ne of Europe’s largest airline

groups, Air France KLM, is to

commence operations from

Northern Ireland.

George Best Belfast City Airport is

the only airport in the UK or Ireland

included in expansion plans

announced today by KLM Royal Dutch

Airlines who will commence a daily

service to Amsterdam Schiphol Airport

from May 2015 providing greater

access to global destinations through

KLM’s extensive network.

Isle of Man air travellers can

benefit massively from this

announcement thanks to Citywing’s

daily flights to George Best Belfast City

Airport, enabling Island residents to

take advantage of KLM’s extensive

range of global connections from

Schiphol through its partner airlines.

Connectivity from Northern

Ireland to South America, the Middle

East and the Far East will be further

strengthened through KLM’s

membership of the SkyTeam Alliance

along with international airlines such

as Air France, Alitalia, China Southern

Airlines, Aeroflot, Korean Air, Middle

East Airlines, Czech Airlines and

Saudia.

Belfast City Airport’s Commercial

and Marketing Director, Katy Best,

said: “Attracting an airline such as

KLM to Northern Ireland, is a major

win for the airport, tourism within the

region and local businesses who will

benefit from KLM’s worldwide

network.

O

Air France KLM have announced a new daily service to AmsterdamSchiphol from Belfast City Airport commencing on 18th May 2015.As Citywing offers daily services to Belfast City, KLM will provide

passengers with greater access to global destinations through itsextensive network.

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Belfast City Airport:now better connected

ISLE OF MAN

PORTFOLIOISSUE 152

“KLM places significant emphasis

on customer service and offers a

product that is flexible, comfortable

and desirable for each and every

passenger making the airline a perfect

fit for Belfast City Airport where

continuously enhancing the passenger

experience remains a priority.”

With imports of goods from the

Netherlands increasing in recent years

and the country being one of the largest

export markets in the EU for Northern

Ireland manufacturers, this route

ensures daily connectivity with major

export and business markets identified

by Invest Northern Ireland.

She continued: “Schiphol is the

linchpin of the KLM network, and as

one of the busiest airports in Europe

serving over 300 destinations, it is an

attractive superhub with quick and

easy transfer facilities for passengers

on popular routes such as Los Angeles,

Hong Kong, Singapore, Mexico,

Moscow, Johannesburg and Bangkok.

“KLM’s connectivity to many source

markets will be particularly appealing

to Northern Ireland for both business

opportunities and tourism

development.

“It is our aim to attract new airlines

to Northern Ireland and to further

develop our domestic and European

route network through working with

the government. KLM is the second big

European airline to announce

operations from Belfast City Airport in

a matter of months after Vueling’s

decision to commence a service to

Barcelona from May 2015, and I am

delighted that both airlines have

chosen to include Belfast City in their

UK expansion plans.”

Enterprise, Trade and Investment

Minister Arlene Foster said: “KLM is a

welcome addition to the growing list of

air carriers now serving Northern

Ireland. KLM’s Amsterdam service will

improve Northern Ireland’s access to

important business and tourism

markets in Europe, North America,

Asia and the Middle East.

“Air connectivity plays a crucial role

in growing our economy and the access

to a KLM service will provide global

markets with help to ensure that

Northern Ireland becomes even more

accessible for those who wish to visit or

do business here. I congratulate KLM

on the establishment of their Belfast -

Amsterdam service.”

Niall Gibbons, CEO of Tourism

Ireland, said: “Today’s announcement

by KLM is really good news for tourism,

as we kick off our 2015 promotional

drive. Not only will it help grow visitor

numbers from the Netherlands, but this

new flight will offer connectivity from

other important tourism markets,

including North America, Asia and the

Middle East.

“We look forward to co-operating

with KLM to maximise the promotion of

this new service from Amsterdam to

Belfast. As an island, the importance of

convenient, direct, non-stop flights

cannot be overstated – they are

absolutely critical to achieving growth

in inbound tourism.

“Tourism Ireland is committed to

working with KLM, Belfast City Airport

and other tourism partners, through co-

operative marketing, to drive demand

for this new flight, as well working with

other carriers and partners to promote

and help maintain vital routes and

services to Northern Ireland.”

David Buck, Managing Director of

Citywing, was similarly pleased with

the announcement made by George

Best Belfast City Airport: “Our daily

services to Belfast are already very

popular not least because of its

outstanding links to London Heathrow.

Direct services to Amsterdam Schiphol

Airport opens up a huge number of

additional connections for our

passengers and, crucially, further

opportunities to save time in reaching

their destination.”

BELFAST:HOW TO GET THERE

WITH CITYWING

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ISLE OF MAN - BELFAST BELFAST - ISLE OF MAN

N e w s | G o v e r n m e n t | F e a t u r e s | Tr a v e l | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

ISLE OF MAN

PORTFOLIO ISSUE 152

Belfast-bound

Circuit of Ireland RallyBelfast will be a key host of this

international event, with a ceremonial

start taking place at the City Hall on

Thursday 2 April.

The Circuit, which will run across

stunning stages in counties Antrim and

Down, will be part of the prestigious

FIA European Rally Championship for

the second year and counts as round

two of the 2015 FIA ERC Junior

Championship.

The rally will finish back in Belfast

on the evening of Saturday April 4 and

the winner will be crowned at Belfast’s

Titanic Quarter, the site of the Rally HQ

and Service Park, which will welcome

over 1,000 competitors and team

personnel over four days from

Wednesday 1 April.

Féile an EarraighFéile an Earraigh, Belfast’s Spring

Festival returns from 10-17 March and

features the very best music, spoken

word, debates, discussions as well as a

series of stunning musical headlining

nights at Writer’s Square, plus annual

events such as the Slemish Walk.

Headline events are still to be

announced for what is set to be the

essential March festival in the city and

the welcome herald of spring! Belfast

will come alive to the sound of Music as

visitors and locals flock to Féile an

Earraigh - a perfect week of celebration

in the run up to St Patrick’s Day.

Féile an Earraigh’s Extensive

programme of events is available on

feilebelfast.com

Tickets can be purchased from the

Féile website & Ticketmaster outlets or

call 028 9024 6609.

Irish Open 2015From its modern-day inauguration

in Woodbrook Golf Club, Co. Wicklow,

right through to last year’s narrative at

Fota Island Resort, the Irish Open has

provided spectacular competition both

for the world’s best golfers, and the

local amateurs that comprise the field

every summer.

This year the Irish Open comes to

Royal County Down Golf Course in

Newcastle.

It will be the first time in 76 years

that the Irish Open has been played at

the world famous links in Newcastle,

County Down, while Northern Ireland

hosts the event for only the second time

in the last 60 years, following the hugely

successful 2012 Irish Open at Royal

Portrush.

Rickie Fowler, one of golf’s most

exciting talents, will take a walk down

memory lane with one of his closest

golfing friends when he joins World

Number One Rory McIlroy at Royal

County Down Golf Club for the 2015

Irish Open hosted by The Rory

Foundation.

For tickets, visit www.irishopen.ie,

contact tickets@europeantour.com or

telephone 0800 023 2557.

The Belfast Tattoo 2015The Belfast Tattoo returns 4th-5th

September 2015, with over 600

performers, and will showcase some of

the finest marching bands, musicians,

and dancers from across Ulster and

beyond, in a two hour show, building up

to the Grand Finale of the Massed Pipe

And Drums.

The Band Of Her Majesty’s Royal

Marines, are the first headline act to be

announced for 2015. Their appearance

will mark their debut Tattoo

performance in Ulster, and is a mark of

how quickly The Belfast Tattoo is

becoming known around the world.

Citywing provides your30-minute hop to Belfast,now one of Europe’s most

cosmopolitan cities . . .

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Appointments

ISLE OF MAN

In association with

www.hamblin.co.imT 01624 640420

The Fedelta Group

First Names Group

Döhle Corporate and Trust Services

Rossborough

Barclays

KPMG

Deloitte

Equiom

In association with

ISLE OF MAN

PORTFOLIO ISSUE 152

he Fedelta Group has

announced the appointment

of Hannah Smith to the role of

Tax Manager.

Managing Director Frank Perry

said “Hannah is both a Chartered

Accountant and a Chartered Tax

Advisor specialising in inheritance

tax, trusts and estates. Her combined

breadth and depth of knowledge and

experience are a welcome addition to

our ‘in house’ capabilities and will

enable us to advise our clients on the

intricacies of their tax exposure in

terms that are practical, commercial

and, importantly, understandable.”

Hannah said “I am attracted to

Fedelta by their focus on a close

client relationship and am looking

forward to the challenge of building

tax efficiencies into structures that

make sense in a real world context.”

Fedelta’s services include

bespoke trust and corporate services,

pension services and fund

administration, utilising tailored

products that provide innovative

solutions.

The Fedelta Group

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Right:Hannah Smith T

rust, corporate and fund

administration service providers,

First Names Group, has

appointed Cengiz Somay as Group

Chief Executive Officer (CEO).

Current CEO Morgan Jubb will take

on the role of Group Executive

Chairman. The appointments are

effective immediately.

These changes reflect the evolving

needs of the business, which is

concluding an intensive period of

acquisitions and structural change.

The Group is now turning its attention

to consolidating its position and

continuing to drive its organic growth

strategy.

Cengiz originally joined the Group

in June 2014 as Group Managing

Director of Operations and was

responsible for the Group’s Finance,

HR, IT, Change and Treasury Teams.

As CEO, Cengiz will oversee the day-

to-day management and leadership of

the business, incorporating its key

service lines: private client, corporate,

funds and leisure services. Cengiz has

enjoyed a very successful career in

financial services – since arriving in

Jersey in 2005 he has held leadership

roles in EMEA and Asia for a number

of international professional services

providers, namely Mourant, State

Street and Standard Bank.

Morgan will assume the

leadership of the Board and be

responsible for corporate

development and the Group’s strategy.

Morgan, whose career has been

largely centred within the mergers

and acquisitions industry, joined First

Names Group as the MBO from IFG

completed in July 2012.

Declan Kenny, the current

Executive Chairman, will remain a

key member of the leadership team as

Group Executive Director with a

primary focus on the organisation’s

expansion into Asia and its Leisure

Division.

Speaking about his new role

Cengiz said; “First Names Group is a

unique organisation, where the

emphasis on its clients and people is

evident in everything it does and I feel

extremely lucky to be part of such an

extraordinary global team. The Group

is coming to the end of a period of

unprecedented inorganic growth and

structural change which has provided

it with a significant presence and

expertise in each of its 14 locations.

Our investment in our global network

and in our people puts the Group in an

excellent position to capitalise on its

proven business development

initiatives. It is certainly a very

exciting time for me to take over the

reins and I am very much looking

forward to ensuring that the Group

continues to progress and flourish.”

Morgan further commented; “I

have been really impressed with

Cengiz since he joined us. He has a

real passion for the Group and its

people. He is a very talented

businessman and I have every

confidence he will take on this role

with his usual calm approach, which

has made him so well liked already.

He really is a pleasure to work with

and I could not think of anyone who is

more suited to lead the Group as it

harnesses the advantages offered by

its expanded network to ensure

strength in depth and long-term

prosperity.”

First Names Group

T

Below:Morgan Jubb,

Cengiz Somay

ohn Bateson has joined Döhle

Corporate and Trust Services

Limited (DCTS) as Senior

Client Services Manager.

John has over 18 years’

experience in the CSP/TSP industry

and has experience with companies

listed on the LSE, AIM and ISDX

(previously PLUS) markets. He has

considerable knowledge and

experience of UK, BVI and IOM

company secretarial practice,

administration and statutory

compliance matters and maintaining

effective corporate governance with

local legislation and external

regulations. He has a proven record of

administration of structures involving

Shipping, Intellectual Property,

Aviation and Real Estate holding

vehicles and the administration of

tailored trusts and structures

according to clients’ requirements.

In addition to his role at DCTS he

holds positions as Director and Non-

Executive Director of a number of Isle

of Man companies and is approved by

the Isle of Man Financial Supervision

Commission and Isle of Gambling

Commission to hold such positions.

He has acted as Director of a number

of large offshore service providers on

the Isle of Man as well as holding the

position of assistant company

secretary and Group MLRO for a

listed Plc with global operations.

He is a Fellow of the Chartered

Institute of Secretaries and

Administrators and a Fellow of the

International Compliance

Association.

Commenting on John’s

appointment DCTS Managing

Director Eckhard Garbers said:

“John’s appointment considerably

strengthens our Client Services Team.

He has a proven track record for

increasing efficiency within business

in order to provide impeccable

service to clients by ensuring

administration procedures are

streamlined to the needs of clients. In

addition, he has a clearly

demonstrated knowledge of the

AML/CFT regulations, regulatory and

corporate governance environment

on the Isle of Man and the UK.”

JDöhle Corporate and Trust Services

ossborough has continued its

commitment to developing

local talent, expanding its

team with the appointment of three

local trainees.

The local insurance brokerage firm

is this year celebrating 10 years of

service to the Isle of Man community.

The company, which has grown

significantly since opening its doors in

the Island in 2005, has also undertaken

a significant office expansion project.

The expansion, which has almost

doubled the size of the company’s

office in Douglas, sees the firm take

additional floor space in its existing

premises in Victory House, Prospect

Hill, providing the business with

additional capacity to expand the team

in the future.

Managing director at Rossborough,

Tim Rattray, commented: “We have

occupied 1,200sqft for the past nine

years at Victory House and recently

took the decision to take an additional

1,000sqft on the floor above. We have

moved our Corporate and Private

Clients teams to the new office, which

has freed up some valuable space on

the ground floor for us to grow the

business and take on new staff. I am

delighted that as part of our growth

plans we have also appointed three

new trainees. I’d like to welcome

Elizabeth Asbridge, Craig Gawne and

Tom Gerrard to the team.”

Craig and Tom have been

appointed to work with Rossborough’s

Commercial team as trainee

commercial brokers, while Elizabeth

has joined the Professional Risks team

as a junior professional risks broker.

The three new recruits are local school

leavers who have recently completed

A-Level studies.

All three have enrolled on

Rossborough’s coveted two-year

training programme, which includes

studying towards the Certificate in

Insurance (Cert CII). The training

covers a range of core modules, which

develop insurance knowledge and

provide the confidence needed to excel

in the workplace.

“All three new recruits will be

expected to forge and manage

excellent client relationships. We are

committed to providing the highest

levels of training and qualifications for

all of our staff and are extremely proud

of the depth of professionalism and

expertise shown across the business,

from the newest recruits through to

more senior members of the team.”

added Mr Rattray.

Rossborough opened its doors in

the Isle of Man in August 2005. Part of

the Rossborough Group, which has

been serving Channel Islanders for

more than 75 years, the company was

bought by leading global insurance

brokerage, A J. Gallagher & Co. in

2013. Today, as part of the Arthur J.

Gallagher & Co. Group, Rossborough is

able to continue providing a personal,

local service, with the backing,

knowledge and experience of a leading

global insurance broking firm.

RRossborough

ISLE OF MAN

PORTFOLIOISSUE 152

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Announce yournew appointment!Email text and pic toportfolio@manx.netDeadline for next issue, 06 March!

Left:John Bateson

Below:Craig Gawne,Elizabeth Asbridge,Tom Gerrard

In association with

ISLE OF MAN

PORTFOLIO ISSUE 152

eil Moore has been appointed

to the role of relationship

manager in the corporate and

intermediaries team at Barclays in the

Isle of Man.

In his new role, Neil will be

responsible for managing a diverse

portfolio of both local and international

intermediaries. He will focus on

building secure, proactive relationships

with new and existing clients, using his

extensive knowledge of the industry to

identify solutions to a wide range of

client needs including lending, wealth

management and foreign exchange.

Before joining Barclays, Neil was

senior client relationship manager in

the Isle of Man office of Kleinwort

Benson Bank. He has extensive

experience in the finance industry,

having held senior positions at three

different private banks.

“Client experience is very

important to the Bank and hopefully I

can use my skills and experience to

make a positive impact in this area,”

said Neil.

Stuart Nelson, director at Barclays

in the Isle of Man, said: “At Barclays,

we are always looking for

opportunities to improve the quality of

our service for clients. Neil’s extensive

industry knowledge and client-led

approach means he will make a

valuable addition to the relationship

management team.

Barclays

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N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

Right:Neil Moore N

KPMGandra Skuszka, Head of VAT

Services at KPMG Isle of Man,

has recently been appointed as

Head of Indirect Tax for KPMG Islands

Group, providing leadership to the

indirect tax specialists in KPMG’s

member firms within this group.

KPMG Islands Group is a regional

network of KPMG member firms

providing Audit, Tax and Advisory

services with more than 2,000

outstanding professionals working

together to deliver value in Antigua &

Barbuda, Bahamas, Barbados,

Bermuda, British Virgin Islands,

Cayman Islands, Gibraltar, Guernsey,

Isle of Man, Jamaica, Jersey, Malta, St

Lucia, St Vincent & the Grenadines,

Trinidad & Tobago, and the Turks &

Caicos Islands.

Sandra trained with Isle of Man

Customs and Excise before joining

KPMG in the Isle of Man in 2007, and

took up her current role as Head of VAT

Services in 2011.

Sandra has recently assisted KPMG

Bahamas with the provision of services

to the government and clients in

respect of the introduction of VAT in the

Bahamas. There, she was responsible

for advising the government on the

implications of VAT legislation prior to

implementation and assisting them

with the formation of a comprehensive

VAT policy. Sandra was also

instrumental in writing the

government’s comprehensive

guidance notices for specific industries.

As more Islands are introducing or

considering introducing indirect taxes

such as VAT or Goods and Services

Tax, KPMG has recognised the

advantages of providing a co-

ordinated approach and a pooling of

expertise. It is Sandra’s global

experience, in particular, that has led

to this recent appointment. She

regularly works on client projects

involving multiple jurisdictions.

Commenting on the appointment,

David McGarry, Managing Director at

KPMG Isle of Man stated: “KPMG is a

global firm which offers a wide

spectrum of services and employs the

greatest talents in order to do so. It is

our role as a firm not just to keep on

top of the latest developments in

financial services policy, but to

proactively engage with and seek to

shape those policies in the best

interests of governments and

jurisdictions, and the companies that

operate within them. Sandra’s

experience across multiple

jurisdictions, coupled with her

considerable expertise locally, mean

she could not be better suited to the

role and its responsibilities. I and the

team here at KPMG would like to

congratulate Sandra on her

appointment and I have every faith in

her ability to excel in this crucial

position.”

Sandra said: “The Isle of Man has a

wide diverse economy with established

businesses in many different industries

operating in multiple jurisdictions. At

KPMG we find that there is an

increasing need for the provision of

indirect tax services encompassing not

only local taxes but, taxes in other

jurisdictions. KPMG have recognised

the need for a co-ordinated approach

to providing these services and I am

very pleased to play such an important

part in this process. I look forward to

developing our indirect tax advisory

network and would like to thank

KPMG for this exciting opportunity.”

KPMG’s local VAT offering, for

which Sandra is responsible, provides

advisory and compliance services to a

wide range of industry sectors which

include eGaming, real estate, financial

and insurance services, yachts and

aircraft, and manufacturing.

S

Above:Sandra Skuszka

ISLE OF MAN

PORTFOLIOISSUE 152

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tuart Nelson has been

promoted to director at

Barclays in the Isle of Man.

Mr Nelson is already head of

corporate and intermediaries at the

bank but his promotion recognises

the importance of this client segment

to Barclays and also the growth in the

corporate and intermediaries team

which now features five key

relationship managers.

He will report to Simon Scott, the

managing director of Barclays in the

Isle of Man, along with Gareth

Rowlands, who heads up business

banking and captive insurance, and

Collette Johnson, head of personal

and premier banking.

“Stuart has over 20 years of

experience in the offshore banking

industry,” said Mr Scott. “He is

particularly experienced in client

facing roles, and his knowledge has

been instrumental in the

development of our local corporate

and intermediary offerings.

“His well-deserved promotion is

in recognition of his contribution to

the business and his role in growing

our local client services,” said Mr

Nelson.

“Simon, Gareth, Collette and I will

be working closely together to ensure

that Barclays continues to meet our

clients’ needs. My role with corporate

and intermediary clients in particular

is a growth area for the bank where

we can look to roll out innovative

solutions to support our clients and

improve the client experience.”

S Left:Stuart Nelson,Simon Scott,Colette Johnston,Gareth Rowlands

Announce yournew appointment!Email text and pic toportfolio@manx.netDeadline for next issue, 06 March!

Above:Jenny Gilmour (Audit Manager);Sarah Sanders (Partner);Miyanda Siamoongwa(Senior Manager)

eloitte, the International

business advisory firm, has

added to its management

team on the Isle of Man with two new

appointments.

The firm, which services both on

and off island clientele from its Athol

Street offices, continues to expand its

locally based team following a series of

significant new business wins in recent

months.

Miyanda Siamoongwa joins as

Senior Manager, Audit and Advisory,

along with Jenny Gilmour who has been

appointed Audit Manager.

In a varied 18 year career in

accountancy, which most recently saw

him working for Deloitte in Papua New

Guinea and which has taken in

Australia, New Zealand, the Cayman

Islands and London, Zambian-born

Miyanda said the potential for

developing his career within Deloitte UK

and the demand for Deloitte’s services in

the Isle of Man were strong factors in his

decision to relocate here.

A former CEO of the Financial

Crimes Unit of Zambia, Miyanda has

experience in a range of business

sectors, having managed audits for a

number of high profile clients within the

banking, insurance, hedge fund,

hospitality and oil and gas sectors.

“I believe there is a strong demand

for the diversified range of services that

Deloitte offers clients from the Isle of

Man. With the firm’s strong connections

to the UK, working on a fully integrated

basis, we are really on the frontline here.

The office uses cutting edge audit

software and has a wealth of technical

experience to draw upon from both the

current IOM team and within the wider

UK firm. This is a very dynamic time for

the business,” said Miyanda.

Jenny Gilmour, meanwhile, brings

significant local experience, joining

Deloitte from a mid-tier Isle of Man

accountancy firm. A qualified Chartered

Accountant since 2008, Jenny has been

closely involved with auditing for a

number of years, covering a broad range

of industries and has experience at

managing teams of staff and interfacing

with both local and international clients.

At Deloitte, she will be focussing on

expanding both her client services and

business development roles.

Manx born Jenny said it has been a

long held ambition to work for a firm of

Deloitte’s stature. “I am genuinely

thrilled to get this great opportunity. I

believe my strong local knowledge,

grounding and contacts will be hugely

beneficial in my new role,” said Jenny.

Sarah Sanders, Deloitte’s Partner on

the Isle of Man, said the firm was

entering an exciting period of expansion

and business development. “We are

currently seeing substantial growth in

our audit and advisory business here in

the Isle of Man and, in response to that,

we have recruited both Miyanda and

Jenny to continue to strengthen and

expand our core management team.

Our clients are situated all over the

world operating in a diverse range of

markets and our expanded

management team, with their

international experience, are well

equipped to deal with the exciting

challenges that such a diverse client

portfolio brings.”

DDeloitte

Barclays

N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

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ISLE OF MAN

PORTFOLIO ISSUE 152

Right:Edward Leigh

eading international trust and

corporate services provider,

Equiom Group, has

announced the appointment of

Edward Leigh as Senior Manager of

its Yachting and Aviation business

lines.

Based at Equiom’s Isle of Man

office, Edward will take responsibility

for developing the Group’s yachting

and aviation business by providing

and promoting a first class personal

service to existing and prospective

clients and working closely with the

wider management team to ensure

business growth and that the

regulatory and internal

administration needs of the business

are met.

Prior to joining Equiom, Edward

held the position of Managing

Director of the Marine, Aviation and

Intermediary Divisions of a large

international trust and corporate

services provider, where he had

responsibility for strategy and

business development. This included

the establishment of group offices in

Malta and in the UAE. He also

launched an offshore crew

employment business and played a

lead role in the implementation of a

payroll and asset management

platform.

Equiom Group Client Services

Director, Aidan Davin, commented on

Edward’s appointment: “Edward has

a wealth of experience in the offshore

financial services sector. He will play

a key role in defining the strategic

direction for the Yachting and Aviation

business lines as well as identifying

opportunities to develop this area of

the business in terms of product

offering and jurisdictional reach”.

Edward is a fellow of The Institute

of Chartered Secretaries &

Administrators, having qualified in

2004 and he became a Trust and

Estate Practitioner in 2006. He is also

a member of the Chartered Institute

for Securities and Investments.

Reflecting on his appointment,

Edward commented: “I am delighted

to be joining Equiom. It is a market

leader in aviation and yachting

services and I look forward to further

developing and expanding its fleet of

aircraft and super yachts.”

LEquiom

Directory

ISLE OF MAN

Isle of Man Airport Flight Schedules

Isle of Man Airport Contact Information

Isle of Man Business Directory:AccountantsAdvocatesBanks - LicenceholdersInvestment CompaniesLife Assurance Companies

Information - The Isle of ManKey locations, statisticsIts ConstitutionTax Allowances, Financial Incentives

In association with

ISLE OF MAN

PORTFOLIO ISSUE 152

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BELFAST

Tel. 0871 200 0440www.citywing.com

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ISLE OF MAN - DUBLIN DUBLIN - ISLE OF MAN

BIRMINGHAM

Tel. 0871 700 2000www.flybe.com

DUBLIN

Tel. 0871 718 5000www.aerlingus.com

GLASGOW

Tel. 0871 200 0440www.citywing.com

GLOUCESTER

Tel. 0871 200 0440www.citywing.com

ISLE OF MAN AIRPORT FLIGHT SCHEDULES

N e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

DEP ARR M T W T F S S

0950 1330 •

DEP ARR M T W T F S S

1410 1555 •

ISLE OF MAN - GENEVA (From 13 Dec) GENEVA - ISLE OF MAN (From 13 Dec)BIRMINGHAM

Tel. 0871 700 2000www.flybe.com

In association with Book online: citywing.com

Some of the destinationslisted in these schedulesare seasonal and applyonly to certain times ofthe year.

If in any doubt, pleasecheck with the individualairline for confirmation.

ISLE OF MAN

PORTFOLIOISSUE 152

LIVERPOOL

Tel. 0905 821 0905www.easyjet.com

LONDON CITY

Tel. 0844 493 0787www.ba.com

LIVERPOOL

Tel. 0871 700 2000www.flybe.com

LONDON GATWICK

Tel. 0905 821 0905www.easyjet.com

MANCHESTER

Tel. 0871 700 2000www.flybe.com

NEWCASTLE

Tel. 0871 200 0440www.citywing.com

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ISLE OF MAN - LIVERPOOL LIVERPOOL - ISLE OF MAN

Alder Dodsworth & Co.,22 Athol Street,Douglas.Tel. +44 1624 622865

Ambitions Ltd,26 Finch Road,Douglas.Tel. +44 1624 614841

Baker Tilly Isle of Man, P.O. Box 952a Lord StreetDouglasTel. +44 1624 693900info@bakertillyiom.com

BDO (Isle of Man) LLC,Analyst House, 20-26 Peel Rd., Douglas.Tel. +44 1624 652000mail@pkfiom.com

Boothmans, Millennium House,Victoria Road, Douglas.Tel. +44 1624 611926bca@boothmans.com

Nicola Bowker & Co.,Commissioners Offices,New Road,Laxey.Tel. +44 1624 861271

Browne Craine & Co, Burleigh Manor, Peel Road, Douglas.Tel. +44 1624 629369info@burleigh.co.im

Corlett & Co,Ellan Vannin Cottage,Baldrine.Tel. +44 1624 861060

Callin & Co, 6-7 Fort William,Head Road, Douglas.Tel. +44 1624 675528callin@manx.net

Callow Matthewman & Co,Atholl House,29/31, Hope Street, Douglas.Tel. +44 1624 622752Ramsey Office Tel 814494

John Clarke & Co,Ragnall House,Peel Road,Douglas.Tel. +44 1624 661821gentrex@mcb.net

R H Corkill & Co. Ltd,10 Auckland Terrace,Ramsey.Tel. +44 1624 816921

Ernst & Young,Rose House,51-59 Circular Road, Douglas.Tel. +44 1624 691800www.ey.com/im

Douglas & Co, 11 Circular Road,Douglas.Tel. +44 1624 628571

Edwards & Hartley, Peregrine House, Peel Road, Douglas.Tel. +44 1624 622302edwardsandhartley@manx.net

Evolution Accounting Ltd.,West Suite, Ragnall House,18 Peel Road,Douglas.Tel: +44 1624 611160accounting@evolution.co.im

J. C. Fargher,Ballafreer House,Union Mills.Tel. +44 1624 851190

Finnie & Co, 6, Goldie Terrace, Douglas.Tel. +44 1624 621523finnies@altavista.com

Crowe Morgan,8, St George’s Street,Douglas.Tel. +44 1624 665100admin@crowemorgan.co.im

Fowler & Co.,First Floor, Norton House,41 Arbory Street,Castletown.Tel. +44 1624 827848

Fryers Bell & Co, 27, Athol Street, Douglas.Tel. +44 1624 639850fryers_bell@manx.net

Galloway Smith & Co, 9, Hope Street, Douglas.Tel. +44 1624 661800ocs@advsys.co.uk

KPMG, Heritage Court,41, Athol Street, Douglas.Tel. +44 1624 681000mfayle@kpmg.com

Greystone LLC,18 Athol Street,Douglas.Tel +44 1624 620711mail@greystone.im

Haven Administration Ltd,28 Victoria Street,Douglas.Tel. +44 1624 625793

Harding Lewis Ltd,34 Athol Street,Douglas.Tel +44 1624 679524

A. M Gerrard,34 Athol Street,Douglas.Tel +44 7624 490720

K G Hegarty & Co.,Peregrine House, Peel Road, Douglas.Tel. +44 1624 622118

HF Accounts,Fairview,Cronk Road,Port St Mary.Tel. +44 1624 835735

ICM Accounting,Prospect Chambers,Prospect Hill,Douglas.Tel +44 1624 682400

In Safe Hands Business Services75 Bucks RoadDouglas,IM1 3EFTel. +44 1624616133contact@insafehands.im

J B Quirk BSc FCCA,Milbourn House13 St. George's StreetDouglas.Tel. +44 1624 616660

Jessup & Co, 44 Athol Street,Douglas.Tel. +44 1624 625666

R. P. Harker, Maskani Yetu, Garey Close, Fox-daleTel. +44 1624 675450

Jones & Co, Penthouse Suite,Analyst House,Peel Road,Douglas.Tel. +44 1624 617344

L. G. Kelly,Parkfield,Glencrutchery Road,Douglas.Tel. +44 1624 611019

Peter D. Lace,18 Hope Street,Douglas.Tel. +44 1624 661640

M. G. Accountancy & Taxation,PO Box 372,Douglas.Tel. +44 1624 619022mgcomp@manx.net

David J. Hill & Co, Museum Buildings,Church Road,Port Erin.Tel. +44 1624 833776

Matthew Edwards & Co, Clinch’sHouse, Lord Street, DouglasTel. +44 1624 663166audit@matthew-edwards.com

Noble & Co, Abacus House, Mona Street, Douglas.Tel. +44 1624 624633abacus@manx.net

Julie Oates,2 Camlork Place,Union Mills.Tel. +44 1624 852552

Paul & Co, 5 Market Place,Peel.Tel. +44 1624 844188

PricewaterhouseCoopers LLC,Sixty Circular Road,Douglas.Tel. +44 1624 689689

PurpleAccounts,Salisbury House,Victoria Street,Douglas.Tel: +44 1624 618002enquiries@purpleaccounts.com

Sabre Management Services Ltd,2nd FloorAnglo International HouseLord StreetDouglas.Tel. +44 1624 629409

Shimmin Wilson & Co, 13-15 Hope Street, Douglas.Tel. +44 1624 627744

SMP Accounting & Tax LimitedClinch’s HouseLord StreetDouglasTel: +44 (0) 1624 683229info@smppartners.com

T Leach & Co,Bradda House,Bradda Road,Port Erin. Tel. +44 1624 832891

TABS,Rechabite Hall,Allan Street,Douglas.Tel. +44 1624 674913

Thompsons,1st Floor,Royal Trust House,60-62 Athol Street,Douglas.Tel. +44 1624 611108

E Thorn,47 Buttermere Drive,Onchan.Tel. +44 1624 613782

Michael Turner & Co, 17 Hope Street, Douglas.Tel. +44 1624 629619mbturner@manx.net

Crossleys, P. O. Box 1, Portland House, Station Road, Ballasalla.Tel. +44 1624 822816

Crowe Clark Whitehill,6th Floor,Victory House, Prospect Hill, Douglas.Tel. +44 1624 627335mail@crowecw.im

David Gelling & Associates,44 Main Road,Onchan.Tel. +44 1624 615500

Deloitte LLP, The Old Courthouse,Athol Street,Douglas.Tel. +44 1624 672332

Chris Hollingworth,20 Finch Road,Douglas.Tel +44 7624 433346

WFZ Services Ltd,2 Ballanawin,The Strang,Union Mills.Tel. +44 1624 852198

David Wilcock B.Com, FCA, Pine View,Glen Vine Road,Glen Vine.Tel. +44 1624 855110david.wilcock@manx.net

T. P. Winnell & Co,, 7, Hill Street, Douglas.Tel. +44 1624 670022mail@fiscalservices.co.im

R G Wright,71 Circular Road,Douglas.Tel. +44 1624 674894

PO Box 25, 26-28 Athol St,Douglas, Isle of ManIM99 1BD+44 (0) 1624 662020mail@msiom.comwww.msiom.com

Grant Thornton,Exchange House,54/62 Athol Street,Douglas . Tel: 44+ 1624 639494gtiom@im.gt.com

Celtic Associates Ltd,Chartered Accountants,One, The Parade,Castletown.Tel: +44 1624 822022Email: email@celt.im

ACCOUNTANTS

ISLE OF MAN BUSINESS DIRECTORY

J. H. Maddrell ACA, 1, Meadowfield, Port Erin.Tel. +44 1624 833535jhj@mcb.net

Martin Associates Ltd,Meadowcroft,Ballabrooie Road,Peel.Tel. +44 1624 845343

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ISLE OF MAN

PORTFOLIO ISSUE 152

REFERENCENEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

In association with

Advocates Smith TaubitzUnsworth Limited,Barrule Chambers,36 Finch Road, Douglas.Tel +44 1624 677888reception@advocates.co.im

Appleby,33-37 Athol Street, Douglas.Tel. +44 1624 647647www.applebyglobal.comIOM@applebyglobal.com

Marie Ashworth,2nd Floor,Harbour Mews,Parliament Square,Castletown.Tel. +44 1624 822880

BridsonHalsall,20 Athol Street,Douglas.Tel. +44 1624 614422www.iomlaw.com

Cains, Fort Anne, Douglas.Tel. +44 1624 638300law@cains.com

Cains Gordon Bell, Auckland Chambers,Auckland Terrace,Ramsey.Tel. +44 1624 811311

Callin Wild, Bank Chambers, 15-19, Athol St,Douglas.Tel. +44 1624 623195www.callinwild.commail@callinwild.com

Carter’s, Court View Chambers,12 Mount Havelock, Douglas.Tel. +44 1624 662809

Carter Jones McDonald, Athol Chambers, 21, Athol Street, Douglas.Tel. +44 1624 629627

Conti, 17, Circular Road, Douglas.Tel. +44 1624 670003www.contiadvocates.com

Corbridges, Chancery House,22 Finch Road, Douglas.Tel. +44 1624 690060

Nigel M Cordwell,2nd Floor Suite,6 Hill Street,Douglas,Tel. +44 1624 677277

Corlett Bolton & Co., 4, Finch Road,Douglas.Tel. +44 1624 676868mail@corlettbolton.com

Dickinson Cruickshank Ramsey,Masonic Buildings,Water Street, Ramsey.Tel. +44 1624 812107

Dougherty Quinn,The Chambers,5 Mount Pleasant,Douglas.Tel. +44 1624 626999info@dq.im

Gelling Johnson Farrant, 24, Athol Street, Douglas.Tel. +44 1624 675367

Hannan Law5 Hill StreetDouglasTel: +44 1624 628900mail@hannanlaw.im

Jones & Co,Finch Chambers,28 Finch Road,Douglas.Tel. +44 1624 629200

Laurence Keenan, Victoria Chambers,47, Victoria Street, Douglas.Tel. +44 1624 611933info@lklaw.co.im

Kerruish Law & Trust, 5th Floor,Anglo International House, Bank Hill,Douglas.Tel. +44 1624 623919

Long & Humphrey,The Old Courthouse,Athol Street,Douglas.Tel: + 44 (0)1624 651951

Kelly, Luft, Stanley & Ashton,2 Sydney Mount, Douglas.Tel. +44 1624 674316

Ian Kermode,Court View Chambers,14 Albert Street,Douglas.Tel. +44 1624 611117mail@ik.im

M&P Legal, New Court Chambers,23-25 Bucks Road, Douglas.Tel. +44 1624 695800law@mplegal.im

MannBenham Advocates Ltd, 49 Victoria Street,Douglas.Tel. +44 1624 639350enquiries@mannbenham.com

Old Court Chambers,Eight Finch Road,Douglas.Tel: +44 1624 641580info@oldcourtchambers.im

Pringle Law,Victoria Court,16 Athol Street,Douglas.Tel. +44 1624 612200

Quinnlegal,30 Ridgeway Street,Douglas.Tel. +44 1624 665522mail@quinnlegal.im

Simcocks, Ridgeway House,Ridgeway Street,Douglas.Tel. +44 1624 690300enquiries@simcocks.com

Judy Thornley,Beach House,Bay View Road,Port St Mary.Tel. +44 1624 833708

Turnbull Advocate,1st Floor,Exchange House,54-58 Athol Street,Douglas.Tel. +44 1624 614516

Laurence Vaughan-Williams,Museum Buildings,Church Road,Port Erin.Tel. +44 1624 836757barrister@manx.net

Lawrence J Weatherill,20 Athol Street,Douglas.Tel. +44 1624 674994

John Wright,16 Willowbrook Gardens,Douglas.Tel. +44 1624 611999

Bank of Scotland PLC,PO Box 19, Evergreen House,43 Circular Road, Douglas.Tel. +44 1624 644000offshore_enquiries@bankofscotland.co.uk

Barclays Bank PLC, Eagle Court, Circular Rd, Douglas.Tel. +44 1624 684444iom@offshorebanking.barclays.com

Barclays Private Bank & Trust(Isle of Man) Limited, 4th Floor, Queen Victoria HouseVictoria StreetDouglas.Tel. +44 1624 682828

Barclays Private ClientsInternational Ltd, PO Box 9, Barclays House, Vic-toria Street, DouglasTel. +44 1624 684444

Britannia International Ltd,Britannia House, Athol Street, Douglas.Tel. +44 1624 681100enquiries@britanniainternational.com

Conister Bank Ltd, Clarendon House, Victoria Street,Douglas.Tel. +44 1624 694694

Duncan Lawrie (IOM) Ltd, 14/15 Mount Havelock, Douglas.Tel. +44 1624 620770iom@duncanlawrie.com

HSBC Bank PLC,HSBC House, Ridgeway Street,Douglas.Tel. +44 1624 684840

Habib European Bank Ltd, 14 Athol Street, Douglas.Tel. +44 1624 622554

Coutts & Co (Manx) Ltd,PO Box 59,Royal Bank House,2 Victoria Street,Douglas.Tel. +44 1624 632222

Kleinwort Benson Bank (IOM) Ltd,St George’s Court,Upper Church Street, DouglasTel. +44 1624 643270www.closewm.combankingiom@closewm.com

Lloyds Bank International Ltd., PO Box 111,Peverial Buildings,Douglas.Tel. +44 1624 638200

Nationwide International Ltd, Samuel Harris House,St George’s Street,Douglas.Tel. +44 1624 696000

Isle of Man Bank Ltd, 2, Athol Street, Douglas.Tel. +44 1624 637000

Permanent Bank International Ltd.,Hillary House,Prospect Hill, Douglas,Tel. +44 1624 673373info@permanent-bank.comwww.permanent-bank.com

Nedbank Private Wealth Ltd,St Mary’s Court,20 Hill Street,Douglas.Tel. +44 1624 645000

Cayman National Bank & TrustCompany,4-8 Hope Street, Douglas.Tel. +44 1624 646900banking@cnciom.com

Merrill Lynch Bank & Trust Co.(Cayman) Ltd, Circular Rd, Douglas.Tel. +44 1624 688600

Santander UK PLCPO Box 12319/21 Prospect Hill, DouglasTel 01624 641888enquries@santander.co.im

The Royal Bank of ScotlandInternational Ltd, Royal Bank House,2 Victoria Street, Douglas.Tel. +44 1624 646464

Standard Bank (IOM) Ltd, Standard Bank House,One Circular Road, Douglas.Tel. +44 1624 643643www.sboff.comsbiom@standardbank.com

The Royal Bank of ScotlandPLC.,Royal Bank House,2 Victoria Street,Douglas.Tel. +44 1624 646464

The Standard Bank of South Africa,Standard Bank House,One Circular Road, Douglas.Tel. +44 1624 643643www.sboff.comsbiom@standardbank.com

Zurich Bank International Ltd, PO Box 422,43-51 Athol Street,Douglas.Tel. +44 1624 671666

ADVOCATES

BANKS - LICENCEHOLDERS

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REFERENCE

ISLE OF MAN BUSINESS DIRECTORY

Abacus Trust Company Ltd,Sixty Circular Road, Douglas.Tel. +44 1624 689600

AXA WF Distibutors (IOM) Ltd,Royalty House,Walpole Ave, Douglas.Tel. +44 1624 643333

BlackRock (Isle of Man) Ltd3rd Floor, Atlantic House,Circular Road,Douglas.Tel. +44 1624 662255

Canaccord Genuity Wealth(International) Limited,Anglo International House,Bank Hill, Douglas.Tel. +44 1624 690100

Caledonian Fund Services(Europe) Ltd,PO Box 172, 4th FloorOne Circular Road, Douglaswww.caledonian.comTel: +44 1624 640150.

CMI Fund Managers (IOM) Ltd,Clerical Medical House, Douglas.Tel. +44 1624 638888

Fedelta Trust Limited,29-31 Athol Street,Douglas.Tel. +44 1624 622331mail@fedelta.com

Isle of Man Assurance Ltd.,IOMA House,Hope Street,Douglas.Tel. +44 1624 681200ioma@ioma.co.im

Fund Management Services Ltd,P.O. Box 156, 18-20 North Quay, Douglas.Tel. +44 1624 688300fundservices@im.fortisbank.com

Kleinwort Benson Bank (IOM) Ltd,St George’s Court,Upper Church Street, DouglasTel. +44 1624 643270www.closewm.combankingiom@closewm.com

Lasenby Knox Ltd,Knox House16-18 Finch Road,Douglas.Tel +44 1624 692176info@lasenbyknox.com

Laxey Partners Ltd,4th Floor,Derby House,64 Athol Street,Douglas.Tel +44 1624 690900

Lorne House Trust Limited,Lorne House, Castletown.Tel. +44 1624 823579

Royal Bank of Scotland TrustCompany (IOM) Ltd,PO Box 151,Royal Bank House,Victoria Street, Douglas.Tel. +44 1624 646464

Maitland Investment Services(IoM) Limited,Falcon Cliff,Palace Road,Douglas.Tel. +44 1624 630000

Neville James Fund Managers Ltd,Park House,Isle of Man Business Park,Douglas.Tel. +44 1624 670500

Nedgroup Investments (IOM) Ltd.,1st Floor, Samuel Harris House,5-11 St George’s Street,Douglas.Tel. +44 1624 645150nedgroupinvestments.com

Ramsey Crookall & Co, Securities House,38-42 Athol Street, Douglas.Tel. +44 1624 673171dealers@ramseycrookall.com

RBSI Fund Administration Ltd.,PO Box 151,Royal Bank House,Victoria Street,Douglas.Tel. +44 1624 646464

Lloyds TSB IndependentFinancial Advisers Ltd, P. O. Box 12, Peveril Buildings, Peveril Square,Douglas.Tel. +44 1624 641741

Creechurch Capital Limited,Knox House,16-18 Finch Road,Douglas.Tel: +44 (0) 653800info@creechurchcapital.com

GAM Administration Ltd, 11 Athol Street, Douglas.Tel. +44 1624 632632info@gam.com

Fortis Fund Services Ltd,P.O. Box 156, 18-20 North Quay, Douglas.Tel. +44 1624 688300fundservices@im.fortisbank.com

Sabre Management Services Ltd,2nd FloorAnglo International HouseLord StreetDouglas.Tel. +44 1624 629409

Hansard International Ltd, Harbour Court,Lord Street,Douglas.Tel. +44 (0) 1624 688000

HPB Assurance Limited,Anglo International HouseBank Hill,Douglas.Tel +44 1638 563490info@hpba.co.im

IntegraLife International Limited,1st Floor,6 Goldie Terrace,Upper Church Street,Douglas.Tel +44 1624 654600

RL360 Insurance CompanyLimitedRL360 House, Isle of ManBusiness Park, DouglasTel. +44 1624 681681csc@rl360.com

Zurich International Life Ltd,43-51 Athol Street, Douglas,Tel. +44 1624 662266

Isle of Man Assurance Group, IOMA House,Hope Street, Douglas.Tel +44 1624 681200

LCL International Life AssuranceCompany Limited,St George’s Court,Upper Church Street,Douglas.Tel +44 1624 683683

Nordea Life & Pensions Ltd,Island House,Isle of Man Business Park,Douglas.Tel. +44 1624 694444

Old Mutual International Isle ofMan Limited,PO Box 159,King Edward Bay House, King Edward Road, Onchan.Tel. +44 (0) 1624 655555

AXA IOM Ltd,Royalty House,Walpole Ave, Douglas.Tel +44 1624 643333

Canada Life International Ltd.,Canada Life House,Alexandra Road,Castletown.Tel. +44 1624 820200info@canadalifeint.com

Friends Provident International Ltd,Royal Court,Castletown.Tel +44 1624 821212

Global Life Assurance Limited,St George’s Court,Upper Church Street,Douglas.Tel. +44 1624 618611

SMP Fund Services LimitedClinch’s HouseLord StreetDouglasTel: +44 (0) 1624 683229info@smppartners.com

Thomas Miller Investment(Isle of Man) Limited,Level 2, Samuel Harris House, 5-11 St Georges Street, Douglas.Tel +44 1624 645200tminvestment.com

WH Ireland (IOM) LimitedAthol House,21a-23 Athol Street,Douglas.Tel: +44 1624 602020iomenquiries@wh-ireland.co.im

CLI Institutional Limited Ltd.,Canada Life House,Alexandra Road,Castletown.Tel. +44 1624 820200info@canadalifeint.com

CMI Insurance Company Ltd,Clerical Medical House, Victoria Road,Douglas.Tel. +44 1624 638888

Capital International Ltd,Capital House,Circular Road, Douglas.Tel. +44 1624 654200info@capital-iom.comwww.capital-iom.com

Whilst every effort has been made to ensure that this directory is as comprehensive as possible,the Publishers cannot take responsibility for any errors or omissions contained herein.

INVESTMENT COMPANIES

LIFE ASSURANCE COMPANIES

ISLE OF MAN BUSINESS DIRECTORY

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

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A Global PartnerThe Isle of Man is a leadinginternational business centrerenowned for its innovation,professionalism and long standingpolicy of positive engagement withinternational initiatives andstandards. The Isle of Man operatesa policy of low taxes with astandard rate on individuals of 10%,a higher rate of 20% and generouspersonal allowances. There is a capof £120,000 on the amount ofincome tax payable by an individualeach year. The Isle of Man strives tobe a model of political stability andfinancial supervision and has longbeen committed to internationalstandards of tax transparency.There is no capital gains tax, wealthtax, stamp duty, death duty orinheritance tax.

Taxation allowanceSingle Person: £9,300Married Couple: £18,600Additional Personal Allowance: £6,400

Dept of EconomicDevelopment

The Department of EconomicDevelopment’s financial assistancescheme offers support to qualifyingbusinesses (up to):40% equipment grants40% building grants either for newbuild or for rents payable;40% revenue grants

Capital Douglas

Population 80,058

Land Area 572 sq km - 227 sq ml

Population density 133 people/sq km(336/sq mile)

Location Irish Sea, 50km (31 miles)from Ireland, 50km from UK

Longest River Sulby, 17km - 10.5 miles

Highest Peak Snaefell, 621 metres,2036 feet

Head of State Her Majesty the Queen,Lord of Mann

LieutenantGovernor

His ExcellencyMr Adam Wood

Chief Minister Hon Allan Bell MHK

Presidentof Tynwald Hon Clare Christian MLC

Speaker ofHouse of Keys Hon Steve Rodan SHK

www.gov.im

THE ISLE OF MAN . . .

INFORMATION

Ramsey

Douglas

CastletownPort Erin

Peel

ISLE OF MAN

PORTFOLIOISSUE 152

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2012 Suzuki Grand Vitara 2.4 SZ-5 LWB Silver Metallic with Full Black Leather, Fitted with Climate Air Con,Alloy Wheels, Electric Glass Sunroof, Privacy Glass, Keyless Entry &Start, CD System, Remote Central Locking, Only 16,000 Miles As New

£11,995 • £69 per week

2012 Volkswagen Polo 1.4 SE 5-door Silver Metallic, Fitted with Alloy Wheels, Air Conditioning, CDPlayer, Remote Cental Locking, Covered 23,000 Miles

£8,695 • £49 per week

2011 Nissan Note 1.6 N-Tec Auto Cappuccino Metallic with Anthracite Cloth Upholstery, Fitted withClimate Air Con, Sat Nav, Bluetooth, Privacy Glass, Alloy WheelsPainted Grey, Drivers Information System, 12,000 Miles As New

£7,895 • £44 per week

2011 Renault Megane Coupe 1.6 110bhp DynamiqueSilver Metallic with Anthracite Cloth, Fitted with Air Con, CD Player,Alloy Wheels, Front Fog Lights, Cruise Control, Park DistanceControl, Remote Central Locking, Only 19,000 Miles From New,Huge Saving on New Price! £6,695 • £37 per week

2009 Honda CR-V 2.2 CDTi SE Manual Black Metallic with Anthracite Cloth, Fitted with Climate Air Con,CD Player, Alloy Wheels, Privacy Glass, Tow Pack, Only 32,000 MilesFrom New, Great MPG Local Car £10,995 • £63 per week

2009 Ford Fiesta ST 2.0 HatchImperial Blue Metallic with Half Leather Recaro Upholstery, Fittedwith Air Conditioning, CD Player, 17” Alloy Wheels, Traction Control,Only 35,000 Miles From New, Immaculate

£6,295 • £36 per week

2009 Vauxhall Corsa 1.2 Life 3-door Champagne Gold Metallic, Fitted with Air Conditioning, ElectricWindows, CD Player. 33,000 Miles from New

£4,695 • £27 per week2009 Toyota Auris 1.6TR 5-doorSteel Grey Metallic with Anthracite Sports Upholstery, Fitted withAir Conditioning, CD Player, Privacy Glass, Alloy Wheels, TractionControl, Plus Much More, Only 55,000 Miles Immaculate Condition& A Local Car £4,595 • £26 per week

2008 Renault Megane 1.6 Dynamique 5-door Red Metallic with Anthracite Cloth, Fitted with Air Conditioning,Alloy Wheels, CD Player, Electric Pack, Only 38,000 Miles ExcellentCondition Throughout £3,695 • £21 per week

2007 Ford KA ManualIce Blue Metallic, Grey Cloth, Fitted with All Usual Extras, Coveredjust 3,000 Miles from new, repeat a mere 3,000 miles from new

£3,695 • £21 per week

2007 Renault Scenic 1.6 VVTi 5-door Silver Metallic with Anthracite Cloth, Sunroof, Air Conditioning,Electric Pack, CD Player, a Superb family MPV with only 30,000 Miles

£3,695 • £21 per week

2006 Volkswagen Golf + 1.9 TDi SE 5 Door Silver Metallic with with Anthracite Cloth, Fitted with AirConditioning, CD Player, Alloy Wheels, Remote Central Locking,Only 35,000 Miles, Very Roomy Car with Fantastic MPG

£6,995 • £40 per week2006 Mazda 2 1.4 5 DoorGrey Metallic with Cloth Upholstery, Fitted with CD Player, Air Con,Electric Pack, Alloy Wheels, Remote Central Locking, Only 14,000Miles from new £3,895 • £22 per week

2005 Honda CR-V 2.0 SE Manual Silver Metallic with Black Half Leather, Fitted with Climate Air Con,CD Player, Alloy Wheels, Fridge Compartment, Remote CentralLocking, Only 40,000 Miles Local From New

£4,895 • £28 per week

2005 Toyota Yaris 1.0 5-door Silver Metallic with Black Cloth, Air Conditioning, Alloy Wheels,Electric Windows, Only 12,000 miles - REPEAT - Only 12,000 miles

£3,995 • £23 per week

2005 Ford Fusion 1.4 5-door Steel Grey Metallic with Anthracite Cloth, Fitted with Air Con, CDPlayer, Plus All Usual Extras, Only 19,000 Miles From New

£3,895 • £22 per week

2005 Volkswagen Polo 1.9 SDi Twist 5-door Black Metallic with Anthracite Cloth, Fitted with All Usual Extras,Only 48,000 Miles From New, Outstanding MPG

£3,795 • £22 per week

2005 Jaguar X-Type 2.0 V6 Sport Saloon Manual Silver Metallic with Grey Leather. Fitted with Air Conditioning, AlloyWheels, CD System, Front Electric Windows, Front Fog Lights,Heated Door Mirrors, Only 42,000 Miles from New. OutstandingValue at £3,295 • £18 per week

2004 Rover 75 2.5 V6 Club Tourer Silver Metallic with Anthracite Velour, Fitted with Sat Nav, TVFunction, 18” Alloy Wheels, Full Electric Pack, Remote CentralLocking, Only 30,000 Miles, Local From Virtually New, ImmaculateCondition £3,695 • £21 per week

2004 Ford Fiesta 1.4 Ghia 5-door Red Metallic, Fitted with Air Conditioning, Alloy Wheels, DC Player,Remote Central Locking and much more. Luxuriously-appointedthroughout, this top-of-the-range model offers outstanding valueat only £2,895 • £16 per week

2003 Lexus IS200 Sport Saloon Manual Ice Silver Metallic with Black Leather/Alcantara, Fitted with a HugeSpec including Climate Control, Heated Seats, CD System, 17” AlloyWheels, Electric Seats, Covered just 17,000 Miles from new,timewarp condition £5,695 • £32 per week

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2003 Citroen Berlingo 1.6 HDi Diesel Van White with Grey Upholstery, Very Clean Straight Van. PleaseCompare Our Price £2,395 NO VAT

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2004 Rover 75 2.5 V6 ClubTourerSilver Metallic with Anthracite Velour, Fitted with All Usual

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P l e a s e f o l l o w u s o n

% 0 1 6 2 4 8 1 5 8 5 8

T h e Q u a y s i d e , D e r b y R o a d , R a m s e yWEEKLY FINANCE FIGURES BASED ON 10% DEPOSIT OVER 48 MONTHS AT 7.5%

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Lifestyle

ISLE OF MAN

In association with

A Week in the Life:Liam Gilman, Freelance Photographer andE-Marketing Managerat Heron & Brearley

Frank Bruno MBE to address Dining Club

‘Isle of Man CycleFest’ is launched

Q&A:John Rimmer,Principle, Advocate John Rimmer Ltd andOf Counsel, Cains.

Gig Guide:Your gig agenda for Belfast, Liverpool,Manchester and London

Monday

Monday is generally quite positive

as it’s the only day of the week that I

don’t have to drop my daughter Ava off

to her Grandparents. So, in my head the

world and my camera is my oyster, and

with the morning light becoming more

and more present I know there will

soon be time for a morning landscape

shoot. The alarm goes at 6:45am, it’s

very dark outside and I’m very tired, so

that idea is crushed. I arrive at work and

plug my laptop in to catch up with the

weekend emails and plug my

earphones in. Since joining the

company nearly 3 years ago, my

photography has been a unique skill as

I was sent out to photograph the

elevations on all the pubs that need

painting. I then put them into a

document ready to go to the boss who

will choose the colours. I then use

Photoshop to show what it could look

like. I got into photography because I

enjoy it, so it’s great working on these

projects.

After lunch, I get ready for a meeting

with the boss. After work I get my

children running at me when I get

through the door, an instant moment of

great joy. I light the wood burner and

then grab something to eat, as I need to

get back to Douglas. There is a meeting

at The British Embassy on the quayside

with the pub manager about the new

year ahead. On the way home to Peel I

pick up some paper work from a few

pubs, so I get home for close to 10:00pm

and head straight to the living room for

some relaxation time.

Tuesday

Early start as I need to drop my

youngest daughter Ava off to my parents

before work. I get to work and check the

emails before getting stuck into Adobe

Illustrator. I start mocking up some

designs for a load of A-Frames for the

pubs to market key events throughout

the year, such as Cask Ale Week. This

for me, as a bitter drinker, is a good

time, but working for a company that

makes ale is even better. There are

definitely some great perks working for

a brewery.

Ava gets dropped off to my work as

Tina has taken Darcey to her dancing

lessons, so we head off. I’ve got a disc

full of wedding shots to drop off, which

takes us close to the Grandparents, so

we pop in for a brew. We then head

home to get stuck into Frozen, which I

know all the words to and yes I’m very

proud! I light the fire and once the kids

are settled head out into the garage to

photograph a canvas painting for

limited prints. It’s so cold and I need to

set up all my studio lights and the light

tent to ensure this photo looks just as

good as the painting. I set the camera up

with an aperture of f11 and shutter

speed of 1/125 at iso100 and take a shot

without a light meter. It’s almost perfect!

I then head in to warm up and import

the files into Adobe Lightroom to ensure

the painting looks its best. Afterwards, I

manage to spend some time with the

kids before it’s bedtime. I’m in for a

treat, The Little Mermaid is on.

Wednesday

I awake early to get some post-

production done from a wedding

blessing at the weekend. I find

mornings to be a productive time to get

anything done undisturbed, with

punchy coffee. I then take Ava to my

parents before work. I get to work and

I’m set for another job, photographing

head office and the warehouse for

painting. That’s going to be a lot of paint!

The day is fresh and the low light is

bright, creating high levels of contrast,

which is not ideal. Luckily post-

production is one of my strong points.

Once all the elevations are shot, I then

take them into Lightroom and sort the

levels out to reduce the contrast. I then

pull the document together in InDesign

ready for the painting scheme to be

done. I head over to Douglas lighthouse

over lunch with my camera as I find it

good for the soul to get out on a little

adventure. I pop the 50mm on instead

of a wide angle. I find 16mm-35mm too

wide, as the wider you go the further

away your background, making the

foreground more of the subject. The

50mm compresses all of this. In order to

still gain the width I take a number of

shots from left to right on my tripod and

then stitch them in Photoshop. This

gives me a finished file with about 80+

mega pixels!

I get back to work, stick my

earphones in and start designing some

posters for some of the pubs’

entertainment.

At 5:00pm Ava arrives as Darcey is at

dancing again. I head home as I’ve got

a few things to do and light the fire as

the mother-in-law is staying over! Once

lit, I get on my laptop and have a look at

emails. It’s good news; a company

wants to buy two of my shots for a

publication. I then spend some time

with the family and then, once the kids

are in bed, get back to work on a

wedding I shot in Finland a few weeks

My name is Liam Gilman and I am a Photographer and the E-MarketingManager at Heron & Brearley. I was born and raised in the Isle of Manand schooled at Peel Clothworkers and QEII. I live in Peel with my wife

Tina and children Darcey, aged 6, and Ava, aged 2.

A Week in the Life

ISLE OF MAN

PORTFOLIO ISSUE 152

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ago. I want to get them finished, but it’s

going to be a fair amount of work. All

done and I head to bed at 1am,leaving

my computer to export the files out of

Lightroom into my Dropbox to be

uploaded for the client in the morning.

Thursday

I don’t have to drop my youngest off

this morning, so I get up early to get

some shots. I recently purchased a file

called Big Stopper, which looks like a

piece of black glass. It basically reduces

the light by 10 stops into camera,

allowing longer exposure with a normal

shutter speed of 1/125 seconds,

changing 8 seconds. It works well with

water to give an almost misty look, due

to the movement in the water, so Peel

Groin is the location.

After that I head to work and check

my emails. I’ve won a competition with

The Cocktail Lovers with a £250 spend

on premium spirits! After all that

excitement it’s time to jump on the

company scales, which are there

because we are all in a competition to

lose weight. After a week of pure

indulgence, I have surprisingly lost 1lbs,

which is a complete shock, taking me to

15Ibs in 4 weeks.

I head to The Bridge to take some

shots as I want people to know how

good the food there is via social media.

I hate taking pictures of food whilst

attempting a healthy lifestyle before

lunch. I definitely could have battered

that fish and chips again.

I get back to the office and work my

magic on the photos, making everyone

in the office hungry. I then check the gin

sales from the weekend. A few weeks

ago I visited some of our Liverpool pubs

and, due to the wind, got stuck, so I

headed to The Fly in the Loaf and had

the greatest gin and tonic. The British

has over 30 gins and I wanted them to

be just as good, so I showed them a

picture of the gin I had and now The

British has raised the bar!

After work I head to the The

Highwayman for a quick meeting with

a couple who want me to photograph

their big day, which went well. I then get

home for a work free evening and some

Silent Witness catch-up on iPlayer.

Friday

I awake in the night to the sound of not

burglars, but Ava being sick - great. We

sorted that out and then head back to

sleep. Today is an Ava drop off day to

Tina’s mother’s. She lives up at the

Mount Murray estate and today the

hotel closes. I get to work for a much

needed coffee after my rude awakening.

I then put my earphones in and start

work on setting up a mailing list via

Mail Chimp for The British. I pull

together some images and text to

ensure it looks the dogs… then head

down to The British and discuss plans

for the mailing list and social media to

spread The British word.

After work, I head to my parents as

we’re crashing there tonight. Tina is

meeting her best friend who is over

from Singapore and who’s only down

the road. I’ve also got a photo shoot at

The Gaiety Theatre photographing a

dress rehearsal of Sister Act 2. On

arrival, I can see my brother not looking

his sharp self. He’s recovering from

man-flu, the poor boy. He’s that sick of

being stuck in he decides to join me at

Sister Act 2. I get there and the show

programmes have arrived. My full page

advert is in there in exchange for my

services. I used one of my shots over the

full page with just my logo in the corner

and that was it, simple but an effective

image.

After that we head home with a

McDrive-thru, which is completely

unacceptable according to my diet. I

arrive at my parents’ and it seems Ava is

still awake enjoying her sleepover. After

peeling her off the ceiling I get her to

bed and start working on the shots I’ve

taken at Sister Act 2 whilst watching

American Gangster. Love that Denzel

Washington! After that I head to bed

around midnight.

Saturday

I get a rare morning resting

while Tina and my mum spend

some time together with Ava.

One bacon sandwich and

coffee later and I’m ready for

the day ahead. It’s my friend’s

30th, but I’ve also got

professional duties in the

evening. I meet the party for

the Six Nations Ireland vs Italy

match. Come 6:45pm I head off for my

photo shoot. It’s a traditional Philippine

18th, which is like a wedding, which is

completely the opposite to my 18th. The

food came out and I was ordered to eat.

There was a load of traditional dishes,

which tasted amazing. I got particularly

excited at the sight of the spring rolls. I

thought these were going to be David

Dickinson’s Real Deal, but it turned out

there was a stealthy cocktail sausage in

there! After completely filling my

memory card I head back out to join the

boys and play catch up.

Sunday

I wake up around 9:30 and once we’re

all ready we head through to Douglas

for a couple of meetings for wedding

photography. I always find the Sea

Terminal a great location as I can ship

Tina and the kids over to the play area

with a couple of blueberry muffins

whilst I sit with the couple over coffee.

After that, we head to my

grandparents for a coffee then to Tina’s

parents, which is a Sunday tradition. We

then go out for dinner, but Ava really

isn’t well. She’s got a cough that’s

sounds possibly like croup, so Calpol is

administered. We head home and get all

cosy in front of the fire whilst watching

Tangled, which is another movie the

kids have hypnotised me into watching.

The heat of the fire sends the kids to

sleep so we each take a child to bed

then draw our week to an end not long

after.

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

ISLE OF MAN

PORTFOLIO ISSUE 152

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rank Bruno started boxing

professionally in 1982. His ring

record is 45 contests with 40

victories, 38 of them knock-outs.

His only defeats have been by

James ‘Bonecrusher’ Smith and in the

World Title fights against Tim

Witherspoon, Mike Tyson and Lennox

Lewis. Frank won the WBC

Heavyweight Title in 1995 when he

beat Oliver McCall.

Frank Bruno was born in London,

November 196. He started boxing at the

age of nine when he joined the

Wandsworth Boys Club.

Frank Bruno boxed three times as

junior, winning twice. During his

amateur career he boxed 21 times,

winning 20 (he avenged his only defeat

by Irish International, Joe Christie).

Frank boxed for the Sir Phillip

Game Amateur Boxing Club from 1977

to 1980 where, in his final season as an

amateur, he represented Young

England and, at 18, was the youngest

ever ABA heavyweight champion. In

1990, Frank was awarded an MBE in

the New Year’s Honours List, and was

also voted the SOS Sports Personality of

the Year for 1989 and 1990.

Since retiring from boxing in the

late nineties Frank has made numerous

guest appearances on dozens of TV

shows including Cannon & Ball, Lenny

Henry, Freddie Starr, Wogan, The Big

Stage, Fort Boyard, Beach Fever, A

Question of Sport and Ant & Dec’s

Saturday Night Takeaway. He has also

presented the BBC TV series People,

recorded two series of It’s A Knockout!

for Channel 5 and continues to be a

regular guest on many shows.

Tickets are £65.00 per person, for

members, or £75.00 per person for non

members. Price excludes VAT. To book

telephone 01624 617049.

F

Frank Bruno MBE to addressThe Sporting & Dining Club

Former World Heavyweight Champion Frank Bruno MBE willaddress the The Isle of Man Sporting & Dining Club at the Palace

Hotel and Casino on 23rd April at a dinner sponsored bySpecsavers Opticians

ursting into life on Friday

evening, Isle of Man Cyclefest

presented by Isle of Man Bank

will let fans get up close and personal

to the professional peloton as the

frenetic Pearl Izumi Tour Series

brings elbow-to-elbow street racing to

Ramsey. Along with racing for the

kids and a mass participation ‘Big

Ride’ with children’s hospice, Rebecca

House, it will be a stunning opening

for the weekend’s activities.

There will be a range of events for

the amateur cyclist to test both their

stamina and mettle. On the Saturday,

Cyclefest’s mountain bike challenge,

‘The Battle of Sky Hill’, will pit the

treaded-tyre warriors against the

Island’s natural landscape, while road

cyclists will have the opportunity to

conquer part of the world-famous TT

course with a lung-busting ‘Storm the

Tower’ hill climb.

Sunday’s spectacular Sportive will

provide competition for the masses

and will be tough enough to go head

to head with any event. Featuring

thousands of metres of climbing

crammed into the most picturesque

route imaginable, it promises to be a

fitting headline act. And for the less

energetic, there will be a family-

friendly course to encourage

all-comers out into the beautiful

Manx countryside.

Isle of Man Cyclefest is not just for

cyclists, however, and organisers are

encouraging everyone to come and

soak up the unique festival

atmosphere in the grounds of the

magnificent Milntown Estate. There

you will be able to enjoy activities for

all the family, with fantastic live music

and entertainment for kids large and

small. Delicious food and drink,

including scrummy local produce and

home bakes will fuel the day, and

fascinating exhibits and displays will

fire the imagination.

Manx Radio will bring the festival

to life with a full event radio station

including editorial coverage of all the

sporting activities as well as all the

news and activity from the festival

weekend.

For more information visit:

www.iomcyclefest.com

B

‘Isle of Man CycleFest’ is launchedA major new cycling and lifestyle festival is coming to the Isle ofMan in May 2016 - ‘Isle of Man Cyclefest presented by Isle of ManBank’. Situated in the heart of Ramsey, the spectacular MilntownEstate will be the festival hub for three days of epic cycling and

family fun over the 13th, 14th and 15th May 2016.

YOUWhat is your business background?

I have practised as a solicitor in

London and advocate in the Isle of

Man for over 20 years. I specialise in

trusts, wills and private client affairs.

I was a partner in a Manx firm for

over ten years before establishing

my own specialist private client

practice in 2014.

What was your very first job?

My first part-time job was cutting

grass in a churchyard, but my first

full-time job was working in a

laboratory for the Wellcome

Foundation in Beckenham, Kent.

If you hadn’t chosen your current

career, is there another career path

you would have liked to pursue?

Law found me but I would have

loved a career in entertainment.

Who is your business role model?

Several partners in London law

firms for which I worked, including

the brother of former Lieutenant

Governor, Air Marshal Sir Ian

Macfadyen.

What’s the best business lesson

you’ve ever learned, and how did

that come about?

People will turn to you if they trust

you. I have learned this the longer I

have worked, gaining experience

and knowledge and building my

reputation.

What’s the best thing about your job?

I love the freedom to work with

clients, academics or other

professionals, from a wide

international background, on

countless challenging projects.

What is the best business advice you

could offer to anyone?

You need to be committed fully to

something to succeed at it.

DIGITAL AGEDo you own an iPad?

No - I own laptops and smartphones.

What are your favourite gadgets?

My HTC One smartphone - but I

wish its battery lasted longer.

Which websites do you visit most?

BBC, Isle of Man Government

website, FSC and various online

legal resources, Amazon, Musicnotes

Do you shop online and if so what

for?

Yes, for books, CDs and sheet music.

PERSONALWhere in the world would you most

like to visit and why?

The remains of ancient civilisations,

to stand in awe at their construction

by people with a completely different

culture. And anywhere in the USA,

because it is the greatest country in

the world.

What is your favourite TV series?

Law and Order

What is your favourite film?

Gone with the Wind: still the greatest

film ever made and set in my

beloved South.

What is your favourite album?

With over 7,000 tracks on my iPod,

hard to say – but shortlist would be

Rigoletto, Once (a New Musical),

Fatboy Slim, contemporary country

music and anything by Joyce

DiDonato or Jonathan Lemalu.

What is the most memorable event

you have attended?

My wedding and the births of my

children.

Name 3 things you would like to do

before you die?

See my children doing things that

they are passionate about, visit

Machu Picchu and reach 100 years.

What is the best piece of personal

advice you could offer?

Always do your best job but

remember that no one was ever

heard to utter on his deathbed, “I

wish I’d spent more time in the

office.”

CURRENTIs the future bright?

I do foresee a period of less growth

in the financial sector. While this

may be worrying, times have

constantly changed for the Island

and the vibrant businesses based

here, the incredible talents among

the island’s people and the variety of

opportunities portend a great future.

We do need, though, to consider

carefully whether all business is

truly beneficial for the Island and not

grab at everything that might come

our way.

We cannot consider ourselves

remote from the world, but we can

treasure the great things that the

Island has and take our part proudly

in the international village in which

we live.

NAMEJohn Rimmer

TITLE AND COMPANYPrinciple,Advocate

John Rimmer Limited, and Of Counsel, Cains.

WHERE DO YOU LIVEON THE ISLAND?

Douglas

HOW LONG HAVE YOU LIVED ON THE ISLAND?Sixteen years, but my wife, Sarah, is from a Manx

family and has lived here much longer.

ISLE OF MAN

PORTFOLIOISSUE 152

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e

QA

We also need to ensure that the

benefits of living and carrying on

business here benefit the whole

island. I feel very proud of the

achievement of the people of the

Island in its charitable giving, giving

such wonderful support for those in

need.

I consider myself to be extremely

lucky to be living and working in the

Isle of Man, and hope that I can play

a part in contributing to the Island

and its people.

73R

R

High Flying Birds03 Mar

Spandau Ballet04 Mar

Lionel Richie10 Mar

Usher21 Mar

Lord of the Dance29 Mar

Nicki Minaj01 Apr

Olly Murs07 Apr

Paul Simon/Sting09 Apr

Disney on Ice15-19 Apr

The Vamps20 Apr

McBusted22 Apr

Take That04-05 May

The Who21 Jun

Neil Diamond30 Jun

BELFASTOdyssey Arena

www.odysseyarena.com

LIVERPOOLEcho Arena

www.echoarena.com

MANCHESTERMEN Arena

www.phones4uarena.co.uk

LONDONO2 Arena

www.theO2.co.ukThe Script

05 Mar

Lionel Richie13 Mar

Aussie Pink Floyd14 Mar

Disney on Ice18-22 Mar

Paloma Faith24 Mar

McBusted31 Mar

Nicki Minaj06 Apr

Ben Howard13 Apr

The Vamps28 Apr

Olly Murs09 May

Maroon 529 May

5 Seconds/Summer10 June

Joe Bonamassa23 Oct

Jimmy Carr24-25 Oct

The Script06-07 Mar

High Flying Birds09 Mar

McBusted21-22 Mar

Usher23 Mar

Train26 Mar

Nicky Minaj04 Apr

Paul Simon/Sting13 Apr

Olly Murs22-24 Apr

The Vamps25 Apr

Mark Knopfler16 May

Take That21-30 May; 18 Jun

Maroon 501 Jun

Ariana Grande04 Jun

Taylor Swift24 Jun

High Flying Birds10 Mar

The Script13-14 Mar

The Who22-23 Mar

Train24 Mar

Paloma Faith25 Mar

Usher26 Mar

Nicky Minaj28 Mar

McBusted04-05 Apr

Paul Simon & Sting15-16 Apr

The Vamps01-02 May

Olly Murs03-07 May

Fleetwood Mac27-28 May, 27 Jun

Ariana Grande01 Jun

John Legend25 Jun

GIGGUIDE

The Honeymoon Tour is theupcoming second concert

tour by American recordingartist Ariana Grande insupport of her second

studio album, ‘My Everything’,and sees her performing in

Manchester and London.

74R

R

ISLE OF MAN

PORTFOLIO ISSUE 152

NEWSN e w s | G o v e r n m e n t | F e a t u r e s | C a r s | D i r e c t o r y | A p p o i n t m e n t s | L i f e s t y l e