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Increase in Company Fees 10 February 2004

By way of early notification the Minister for the Treasury, the Hon A Bell MHK, has announced that he intends to bring proposals forward in this month’s sitting of Tynwald which will increase the fees payable for Tax Exempt Companies, International Limited Liability Companies and International Limited Partnerships.

The proposed increases are set out in the table below.

Type of CompanyApplications made:2004/052003/04
Tax Exempt CompaniesBefore 30th June£450(£430)
International Limited Liability CompaniesBefore 30th June£450(£430)
International Limited PartnershipsAt any time£450(£430)

No changes are to be proposed for the higher rates chargeable upon late applications.

The necessary provisions confirming the amounts applicable will be on the Tynwald agenda for the February sitting and where appropriate will be subject to the approval of Tynwald.

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