Isle of Man looks to hire hundreds of accountants in 2020
A new campaign is seeking to recruit hundreds of accountants in 2020 to work on the Isle of Man, highlighting the companies and opportunities available on the island.
The Isle of Man Department for Enterprise has launched a campaign to recruit hundreds of accountants to the island in 2020, highlighting both the financial and lifestyle incentives.
Targeting both qualified and non-qualified accountants from the UK and Ireland, the campaign’s website connects prospective employees with opportunities on the island, provides information on relocating, and showcases others who have made the move.
Simon Nicholas, partner at KPMG Isle of Man, said: “There are a wealth of opportunities in the Isle of Man for accountants in many areas of the economy. There is a real shortage of accountants on the island of all levels, and thus recruitment further afield is an absolute necessity.
“This initiative will allow us to attract new talent to the island to contribute to the economy and, in turn, the success of many businesses.”
Island living
Alongside this campaign, the Isle of Man is offering a National Insurance Holiday Scheme, which allows professional employees to receive a lump-sum refund of their first-year national insurance contributions, up to £4k.
Additionally, salaries for full-time employees are still 14% higher on the Isle of Man than in the mainland UK, even without the scheme.
Speaking on the accountancy campaign, the Isle of Man Minster for Enterprise, Laurence Skelly, said: “Meeting the skills needs of our economy is vital in order for our businesses to grow and achieve their ambitions.
“The skills offered by qualified accountants are utilised across a wide range of the Isle of Man’s business sectors and support a huge number of organisations.”
The island currently hosts offices for the Big Four, Grant Thornton, and Baker Tilly, among others, as well as many well-established small firms focusing in accountancy, audit, taxation and more.
Additionally, in a 2019 HSBC Expat Survey, it was ranked the 12th best place in the world to live, and the best place to live in the British Isles.
Any accountants who relocate to the Isle of Man will find that they are not alone – for 64% of first-time expats who relocated to the island, it was their first experience where they lived abroad.
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A native to the island, KPMG’s senior tax manager Clare Kelly told Accountancy Age in May that the island afforded her a unique perspective on the industry.
“It’s just a lot more personable,” Kelly explained. “If you need to get somewhere, someone will know the person you need to approach – you don’t need to ring a call centre to find a generic response, you can speak to the person you need to speak to.”
Similarly, one of Grant Thornton’s audit managers, Helen Hudson, told Accountancy Age in July that the island allowed her to move at a slower, more concentrated, pace than other UK cities might allow.
“I think it’s got a bit of a tax haven-type reputation,” Hudson admitted. “So, the general comment is, ‘do you spend all day helping people avoid tax,’ which is not the case! Some people think it is very old-fashioned.
“It is a slower pace of life than you’d get in London or Manchester, but it’s got everything that you need. The beaches are lovely. It is a really nice place to live.”
Additionally, Kelly remarked on the diversity of the island, which continues to grow thanks to campaigns like the Department for Enterprise’s accountant campaign, and the interesting mixture of nationalities she gets to work with.
“They come over here to work and they absolutely love it because everyone’s friendly to them and they live quite close,” Kelly said. “There’s bits going on and they’re allowed to be a part of whatever they’d like to be a part of.”
