Any traders on Isle of Man here?

[j2000]

Hi,

I am living on the Isle of Man and I am now trying to figure out what the best trader is for me, to make sure I don't end up paying taxes elsewhere.

The only trading place on the IoM is a traditional brokerage where the manager was s tried to convince me "no, we don't have online trading, it is so much easier for you to just pick up the phone and call us and we do the trading for you".

So I have to get an online trader in a different country, and I'm not entirely sure what I need to look out for.

 

[mike.]

Hi,

I am living on the Isle of Man and I am now trying to figure out what the best trader is for me, to make sure I don't end up paying taxes elsewhere.

The only trading place on the IoM is a traditional brokerage where the manager was s tried to convince me "no, we don't have online trading, it is so much easier for you to just pick up the phone and call us and we do the trading for you".

So I have to get an online trader in a different country, and I'm not entirely sure what I need to look out for.

Have you looked into " spread betting " good entry level trading, tax free, online platforms and trade with relatively limited capital if required.

 

[j2000]

i am looking for a broker where I can trade from; stocks and ETFs, I just want to make sure there will be no tax implications and that I don't pick a broker that will have high fees when I transfer money back/forth.

 

[mike.]

not sure how your tax works on I.O.M , but the only way in uk to trade tax free is spreadbetting, its classed as gambling thus tax free..

 

[j2000]

there is no capital gains on Isle of Man, hence I want to make sure I pick the right broker in the right country.

 

[mike.]

Have a look here....http://www.trade2win.com/boards/forex/95744-uk-tax-laws-forex.html

 

[hhiusa]

there is no capital gains on Isle of Man, hence I want to make sure I pick the right broker in the right country.

There is no capital gains on the Isle of Man; however, that only applies to business conducted on the Isle of Man. They do tax money made internationally, i.e., money that is possibly made in the US for IOM residents.

 

[siptungkha]

there is no capital gains on Isle of Man, hence I want to make sure I pick the right broker in the right country.

Have you found any local brokers in IOM. I am also visiting the Island this month for all possibilities and if you are or have any investors there please let me know so that I can show you how money grows in any trading accounts.

Possibly see you in Douglas soon.

 

[stephen2003]

good luck

Hi,

I am living on the Isle of Man and I am now trying to figure out what the best trader is for me, to make sure I don't end up paying taxes elsewhere.

The only trading place on the IoM is a traditional brokerage where the manager was s tried to convince me "no, we don't have online trading, it is so much easier for you to just pick up the phone and call us and we do the trading for you".

So I have to get an online trader in a different country, and I'm not entirely sure what I need to look out for.