Please see news release below. This whole new layer of administration perpetrated on the basis of better tax transparency has already lost us considerable business and increased costs. The aim is good but when the US buys in properly and clamps down on its own offshore/onshore areas just as Puerto Rico, Delaware, Nevada and Maryland to name a few I will be happier with the situation.

https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/news/?altTemplate=ViewCategorisedNews&id=38002