Isle of Man is no tax haven

The Isle of Man has disclosure agreements in place with HMRC as well as many other countries both inside and outside the EU

On page 49 of “Recycling brings rich rewards” (PE December) in a box “A complex fiscal structure” the above article refers to the Isle of Man as a “tax haven”.

A tax haven is somewhere that assets can be hidden. The Isle of Man has disclosure agreements in place with HMRC as well as many other countries both inside and outside the EU and continues to work hard at adding to this list and further developing existing agreements, as a few minutes visit to the website www.gov.im will show. It is thus grievous when anyone trots out this easy and totally wrong statement.

I would be grateful if you would bring this error to the attention of your correspondent and PE readers and try your utmost to avoid such statements appearing in PE again. I think I can safely say that in this I speak for all on the Isle of Man.

Philip Wedgwood, Ramsey, Isle of Man

Next letter: Quantified reasons