If there is one thing I find strange about the various cruise lines around the world it’s that so few even think about stopping in the Isle of Man. I’ve been fortunate enough to have been on several cruises in various places and to see people getting so excited about visiting ruins which, to be quite frank, are not a patch on what I can find within 20 minutes of our house. This may sound tongue in cheek but I’m being serious, the Isle of Man is a stunning destination for a cruise visit.

Looking at things subjectively I think most people would agree that the island is even more suited as a cruise destination than to longer stays. The Isle of Man is a small island with many historical sites in close proximity to each other with easy access for those on a standard 8-9 hour cruise day. Like I said above I have been on cruises where 1500 people have bought excursions that mainly comprised of looking at a rather unimpressive pile of rocks which were “perhaps” once something and then being shipped off to a factory shop and pressured into buying something. To get so excited over so little I could only imagine how their faces would react to seeing Peel Castle, a trip around the almost complete ruins of Castle Rushen, topping the day off with a walk up the worlds largest working water wheel. We’ll ignore the actual natural beauty of the island for a moment.

Of course the Isle of Man doesn’t have the weather that can guarantee cruise guests shorts and t-shirts but I don’t think that matters. Cruises tend to fall into 2 categories, history & culture or sun and sand. I would love to see the Isle of Man pushed more as a destination for the first. The Isle of Man government needs to be more proactive in this, there are several good deep water moorings around the island besides Douglas. I would suggest cruise lines tender to shore in the more traditional parts of the island, Douglas IS NOT the Isle of Man. I was fortunate enough today to bump into several cruise guests who were wandering lost up and down Strand Street, the disappointment etched on their faces. My advice was to jump on a bus and get out of Douglas ASAP. Bad roads and squeeky buses are soon forgotten when you are greeted by the site of the central valley being kissed by the last embers of the morning cloud and Snaefell peaking through in the distance, all enjoyed from the number 4 bus. Yes I know it doesn’t sound much if you live here, trust me, we’re spoilt.

If this sounds like I’m preaching then I’ll apologise now, it’s only because I really do believe in this. Of all the ways the island could increase its income this for me is the best. The Isle of Man has a huge amount to offer, to the right people.

2010 Cruises To The Isle of Man

August 1st on the Cruise&Maritime Voyages ship Ocean Countess which leaves Leith on the 24th of July. Click Here to see the full list of destinations on this cruise and availability.

August 9th on the Hebridean Princess which is stopping in Peel and sets sale from Oban on the 5th of August. Click Here for more information.

August 12th & 13th on Residensea’s The World. Click Here for more information.

August 23rd on the P&O Cruises ship Artemis which leaves Southampton on the 16th of August. Click Here to see the full list of destinations on this cruise and availability.

September 4th on the Cruise&Maritime Voyages ship Marco Polo which leaves London on the 29th of August. Click Here to see the full list of destinations on this cruise and availability.

2011 Cruises To The Isle of Man

July 12th on the Oceania Cruises ship Marina which leaves Copenhagen on the 1st of July. Click Here to see the full list of destinations on this cruise and availability.

July 24th on the Oceania Cruises ship Marina which leaves Dover on the 15th of July. Click Here to see the full list of destinations on this cruise and availability.

Have You Been On A Cruise That Visited The Isle of Man? If so why not leave a comment and let us know how it was for you. All feedback will be forwarded on to Isle of Man tourism.

Are There Any Cruises That Visit The Isle of Man? is a post from: On The Isle of Man

Advantages To Forming An Isle of Man Company

Zero Percent Corporate Tax – As long as your company is not a bank or insurance company (which are taxed at 10%) there is a zero rate of corporate tax on the Isle of Man
No Capital Gains Tax – There is no tax to be paid on capital gain derived from the sale of any holdings
No Inheritance Tax – Making it a very tax efficient way of owning property

No withholding tax is paid on dividends payable to shareholders.

The Isle of Man is an open and compliant place to do business with a AAA credit rating.

Isle of Man Companies

Legislation is in place for 2 different types of company formation on the Isle of Man. There is the old style company (A companies act 1931 company) and the newer more flexible company type (A companies act 2006 company). Certainly up until now the 1931 company seems to have been the company of choice for most individuals and many of the CSPs on the Isle of Man have much more experience in setting up and administering this type of Manx company.

Isle of Man 1931 Company Formation

In order to form a Companies Act 1931 company on the Isle of Man you will need 2 directors and 1 secretary. The directors must be “real” people and not corporate entities. The registered office must be on the Isle of Man. There are numerous CSPs on the Isle of Man that can help by providing professional directors and a registered office address as well as setting up and administrating the company for you. Those are the basics but if you like to see the full act then there is a copy of it online here:- Isle of Man Companies Act 1931

Isle of Man 2006 Company Formation

The main difference between the new Manx company vehicle and the old style Manx company is that the 2006 Legislation allows a company to only have 1 director. This director may also be a corporate entity. There are numerous other small changes but these only come into play in very specific circumstances hence the popularity of the older legislation. If you think you’d like to form a 2006 Company you’d be much better of speaking to a CSP before proceeding.

In terms of costs forming a company on the Isle of Man is relatively cheap, £190 will cover your incorporation fees for either type of company. However the paperwork can be relatively complex and it is strongly suggested that you take advantage of the many CSPs on the island who can supply everything you need to get your company up and running in the least amount of time with a minimal amount of fuss.

Comparison Of An Isle of Man 1931 Company And A 2006 New Company Vehicle

Check Isle of Man Company Name Availability

If you’ve decided that a Manx company is right for you then the next step is to check that the company name you want is available, you can do that using this Isle of Man Company Name Check service.

Just in case you are looking for other jurisdiction company formation here are some alternative services for checking company name availability:-

Jersey – Jersey Company Formation Name Check
Guernsey – Guernsey Company Formation Name Check
UK – UK Company Formation Name Check
Hong Kong – Hong Kong Company Formation Name Check
Switzerland – Switzerland Company Formation Name Check
Singapore – Singapore Company Formation Name Check

For help with your Isle of Man company formation or any of those other jurisdictions mentioned above we would recommend you contact Gecko Corporate Services who offer an affordable personalised professional service to all their clients, you can ask any questions using the form below:-

Isle of Man Company Formation is a post from: On The Isle of Man

1. Make sure you get a receipt from the person selling the boat. Of course this sounds like common sense but how many people when buying a second hand car think of getting a receipt? It’s really important when buying a boat because it seems there can be some delay in getting the paperwork dealt with at the government and having this (as well as the “keep this” part of the logbook) clears up any ownership issues. As the new owner it is your responsibility to let the Harbours division know of any change of ownership (There is actually a form for this that you can get from any of the harbour masters offices)

2. Service history. It’s a small island with only a few marine dealers. If somebody selling a boat claims an engine has had a recent service it takes no time at all to check on it, how, when, what. Boats are generally not cheap and whilst this may feel a little like snooping it also has the added bonus of allowing you to introduce yourself to the people who will likely by servicing your engine.

3. Isle of Man Marina berths. You can not sell a marina berth on the Isle of Man. If somebody claims to be selling their pontoon berth with their boat then they can’t do it. Once the change of ownership details have been submitted by both the person selling and the person buying the boat the government know, trust me, they know! The Isle of Man operates a first come first serve basis for marina pontoon berths and when you buy the boat you’ll have to apply to go on the waiting list, right at the back of the queue. This means you’ll need to find a new home for the boat. Generally speaking harbour masters will want your boat moved ASAP (month end anyway) so that the next person on the waiting list can have “your” berth. So if somebody offers to be selling their pontoon berth beware. It may also be worth checking for any outstanding berth fees that may be passed onto you. This does bring up the not so small issue where a boat owner may pay for their berth for 12 months, sell their boat 2 months later and the government then re-sell that berth. That doesn’t seem right to me – I’d want a refund for the 10 months.

So the process is relatively simple. Look at boat, agree a price, arrange payment, submit log book to be updated, submit a change of ownership form, if it’s currently on a marina pontoon berth then move it.

Just one final note, a lot of the boats left in Manx harbours look like they have seen better days, abandoned might be a fair word? If you are going to spend good money on a nice boat then you should really think about getting comprehensive insurance. It’s a small price to pay should the worst happen.

How To Buy A Boat is a post from: On The Isle of Man

Why Is Electricity So Expensive On The Isle of Man?

It’s a bit of a raw subject but the simple version is that the MEA (Manx Electricity Authority) took out some unauthorised loans in order to build a new power station (which by the way cost well over what a similar station in the UK would cost). The end result was a lot of brown stuff hitting the fan and the customers i.e. us, being saddled with a debt mountain to pay off. You combine that with a fuel monopoly and …well you get the picture. In my opinion it’s a shame, there can’t be many more windier places with such large tidal ranges and yet we are still entirely reliant on fossil fuels. Of which we have no natural resources.

The Cost Of Running Electrical Goods

The table below details the energy usage (KWh) and cost (in pence per hour) of running many common electrical goods on the Isle of Man. These are tests I’ve done myself using an Owl Energy Monitor.

Where Can I save Money?

The obvious answers are replace your standard light bulbs with energy saving bulbs and think of a better way of heating water than a standard kettle. We swapped out 7 standard bulbs for their energy saving alternatives and replaced our standard kettle with a Tefal Quick Cup Deluxe. In just under 2 months we saved the unit equivalent of £35 of our electricity bill! (A year on year comparison) You have to remember that where energy saving goods are advertised as saving X in the UK the extra cost of electricity in the Isle of Man actually increases the cost savings. It’s a no brainer.

The other place where savings can be made is with standby mode. Whilst measuring the amount of electricity used is quite hard (becuase of the small amounts) it does add up. Some real standby hogs include the Xbox 360 console, your Sky Box and any TV over 32 inches. If you look at the table you can see exactly how the cost of running a larger TV increases much more than you’d think for those few extra inches. When it comes to computing there is a real difference to be seen in running a laptop versus a traditional Base+Monitor setup. If you’re not a frequent computer user then you may be better off with a laptop.

Whilst these energy saving tips can apply to anywhere and everywhere the positive effects on your back balance are certainly magnified on the Isle of Man. You don’t have to see it as saving the planet, see it as saving your hard earned cash.

How Do I Cut Down On My Electricity Bills? is a post from: On The Isle of Man

It’s worth noting that you can also play the National Lottery online. The sign up process for Isle of Man residents is slightly more long winded in that you’ll need to provide a utility bill as proof of your address but it’s still a simple process, your account will usually be opened in a couple of days.

Click Here To Play The National Lottery Online

Can I Play The National Lottery On The Isle of Man? is a post from: On The Isle of Man

If you visit the Isle of Man and you live outside the UK then you should have travel insurance anyway. Most travel insurance includes medical expenses. Up until April 2010 if you lived within the UK and visited the Isle of Man then there would have been no need for any form of private medical insurance as the Isle of Man and the UK had a recipricol health agreement.

However, from April 2010 onwards people visiting the Isle of Man from the UK will need medical insurance, for most people this will mean taking out travel insurance when visiting the island. A & E treatment is provided free of charge but any ongoing care charges have to be covered privately. This can get hugely expensive so insurance is a must.

The ending of the recipricol health agreement also impacts people who live on the Isle of Man. We will now need insurance when visiting the UK.

Do I Need Private Medical Insurance When Visiting The Isle of Man? is a post from: On The Isle of Man

Online Retailers That Deliver To The Isle of Man For Free:-

Play.com – Offer free delivery to the Isle of Man on all goods.

Amazon.co.uk – Order more than £5 worth of goods from Amazon.co.uk and you can opt for Free Super Saver delivery to have your goods delivered for free to the IOM. This only applies to goods sold direct from Amazon.

Game.co.uk – Free delivery on everything to the Isle of Man.

Great Universal – Free delivery on most items to the Isle of Man.

Dabs.co.uk – NOT ALL THE TIME – Dabs offer free delivery offers from time to time and these do include the Isle of Man.

Online Retailers That Deliver To The Isle of Man At Standard Rate (No Extra)

Marks & Spencer – A standard £3.50 charge covers everything.

Woolworths.co.uk – No extra charges for delivery to the Isle of Man

If you know of any more online retailers who welcome Manx shoppers then pease leave a comment.

Free Delivery To The Isle of Man? is a post from: On The Isle of Man

• Income Tax – You’ll need to notify the tax office of your intention to go self employed. You need to fill in form R133 which annoyingly isn’t available for download from the IOM Government website (Probably the only form not availabl;e online, I told you they’re not very supportive of self employment). The easiest way to get this form is to email incometax@gov.im and ask for a copy, you should also request a copy of their guidance notes for self employed income tax. As well as form R133 you’ll also need to submit both copies of the T21 that your last employer gives you. That’s all there is to it concerning notifying the income tax department.
• NIC (National Insurance) – It may come as a surprise to learn but the NI contributions office is in a totally different location to the tax office on the Isle of Man. You can find NI contributions (which is part of the DHSS) on the second floor of Markwell House, Market Street. The tax office is part of the treasury in central government offices. You’ll have to apply to pay self employed NI contributions (Class 2) which are currently £2.10 a week. Don’t get too excited though because if you earn over a certain limit you’ll have to pay Class 4 contributions to the income tax office. A Class 4 assessment is done at the same time as you are assessed for income tax when you have submitted your self assessment for the previous financial year. Anyway I digress, you can find a copy of the application to pay self employed NI contributions by following the link. A number of payment options are available but by far the easiest is to setup a direct debit from your business bank account. You can find the form here. Once accepted payments will start to be deducted, that is your National Insurance obligation covered.
• VAT – Value Added Tax adds a whole new complexity to the accounts of somebody looking to go self employed. VAT accounting is an area that I’d best suggest you employ an accountant for. The good news is that if your turn-over (not profit) is less than the VAT limit (currently £62000) then there is no need to register for VAT. Remember though that if you’re not VAT registered then you can not charge VAT, to do so is an offence. If you’re unsure of how VAT works or if you have any questions then you can contact the VAT office on the Isle of Man at the email address customs@gov.im
• Banking – I’d strongly suggest that you open up a business current account, it will help to simplify things for your accountant or more importantly for yourself if you are doing your own books. The Isle of Man Bank offer 18 months free business banking for existing customers or 12 months free business banking for new customers. I looked at most of the big banks and settled on the Isle of Man Bank, there charges are very competitive and they offer decent online banking. The only hesitation I would have with using them is that the debit cards they provide are not visa or mastercard based. This can cause problems with some online merchants, I’ve had to resort to using my personal visa debit card from time to time and reimbursing my personal account. The other thing to think about is setting up your bank account early. It can take more than a month to get cards, cheque books and internet access sorted out. This may not seem that long but remember that you need to provide bank details in order to setup your NI direct debit.
• Trading Name – There is no need to register a trading name in order to go self employed but in my opinion you should. Even if it’s only to help seperate work life from personal life, it costs such a small amount and is such little hassle that it’s well worth doing. The first thing to do is to just have a quick check on the internet and make sure than nobody else is using the name you want (just do a Google search for the trading name you want to use). You’ll then need to fill in form bn1 and send it of to the FSC with your £38 fee. A few weeks later you should recieve your certificate through the post. Something worth remembering is that you are not supposed to apply for a trading name until you have started trading. However you’ll need your trading name when filling in the forms for the Tax Office, NI and optionally your bank.

So thats about it really, register a trading name, open a business bank account and register as self employed with the TAX and NI offices. As far as accounting goes and your books I’d recommend a book and a piece of software. QuickBooks Simple Start is a really easy to understand piece of accounting software. They offer a months free support so it’s a great opportunity to learn the basics of business accounting for a cheap price (around £40). Understanding Business Accounting for Dummies – UK Edition does what it says, an easy to understand guide to business accounting. Although it goes into far more detail than what you may need it also covers the basics really well.

How To Go Self Employed is a post from: On The Isle of Man