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If you’re starting a business or reviewing your current setup in the Isle of Man, one of the most important decisions you’ll make is whether to operate as a sole trader or through a limited company. There’s no single “right” answer — the best option depends on your income level, risk, and future plans. This guide explains the key differences, tax considerations, and what typically works best for Isle of Man business owners in 2026. What Is a Sole Trader? A sole trader is some

If you’re running a small business in the Isle of Man, tax returns can feel confusing, time-consuming, and easy to get wrong — especially if no one has ever clearly explained what’s required and when. Whether you’re a sole trader, company director, or consultant, understanding your Isle of Man tax obligations is essential to staying compliant, avoiding penalties, and planning properly. This guide explains who needs to file, what’s different in the Isle of Man, and how to stay

VAT Can Be Confusing — But It Doesn’t Have to Be VAT (Value Added Tax) is one of the most misunderstood areas for small business owners in the Isle of Man. When do you need to register? What happens if you go over the threshold? What can and can't you claim? Whether you’re just getting started or reaching the threshold, this guide breaks down the essentials — in plain English. 1. What Is VAT and Who Needs to Register in the IOM? VAT is a tax charged on most goods and services

Artificial intelligence is now part of everyday life — from writing emails to planning meals and even managing money. According to a Lloyds Banking Group study (2025) , 56% of UK adults — that’s around 28.8 million people — are now using AI tools to help manage their finances , including budgeting, savings, pensions and even investments. It’s an astonishing leap in such a short time. But for business owners, it begs the question: When you ask AI for advice on your business