Treasury Minister flags up residency rules hope.

The Treasury Minister has hinted that the Island may be making headway in discussions with the UK over contentious new residency regulations.

Changes, due to come into force on April 6th, will slim down considerably the number of times Manx residents can fly into the UK before qualifying as UK residents for tax purposes.

If this happens, it would be very damaging to both the Isle of Man and the Channel Islands.

In a statement to the House of Keys this morning (Tuesday) and in answers to supplementary questioning, Treasury Minister Allan Bell indicated that the UK may well be listening to Manx concerns: