With Isle of Man-based accountancy firms in a drive to recruit hundreds of accountants in 2020, the Isle of Man Department for Enterprise has launched a targeted multi-channel campaign highlighting the financial incentives and quality of life on offer for those looking to relocate.
Located in the Irish Sea between Great Britain and Ireland, the Isle of Man is home to the offices of well-known global firms including Deloitte, PwC, KPMG, and E&Y as well as a number of other well-established accountancy firms and practices who all deal with accountancy, audit, bookkeeping, payroll, and taxation.
The recently launched campaign will target both qualified and non-qualified accountants in the UK and Ireland. The dedicated online webpage www.accountancycareersisleofman.com includes key information on relocating, a direct link to opportunities available in the Isle of Man, and a suite of video case studies.
The Isle of Man Minister for Enterprise, Laurence Skelly MHK, 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’.
Simon Nicholas, Partner KPMG Isle of Man and Finance Isle of Man board member commented:
‘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.’
NI holiday and financial incentives
The Isle of Man is also currently offering a National Insurance Holiday Scheme, which means accountants and other professionals who take up employment in the Isle of Man receive a refund of their first year NI contributions as a lump sum of up to £4,000.
Under the scheme, an individual earning a £30,000 salary will take home £27,450 in their first year of living on the Island – £3,650 more than their UK counterparts. This represents a 15% increase compared with the UK, who would keep £23,800. Average salaries for full-time employees are already more than 14% higher in the Isle of Man than the UK.
Best place to live in the British Isles
The Isle of Man, which has 83,000 residents, was ranked the best place to live in the British Isles and 12th best in the world by the HSBC Expat Survey in July 2019.
This is the longest-running independent global survey of expats that looks at criteria such as economic stability, wellbeing and family benefits such as finance, education, healthcare and quality of life to provide insights on how countries compare across the globe.
The Isle of Man, Jersey, and Guernsey were all new entries to this year’s league table with the Channel Islands ranking at 19 and 25 respectively. The United Kingdom was named 27 and Ireland, 14.
Work-life balance, outdoor activities and a strong sense of community are some of the reasons that expats stay in the Isle of Man longer than planned. 74% of respondents said that their quality of life had improved since moving to the Isle of Man, and nearly half said their mental wellbeing has improved.
Those who have relocated highly appreciate the local landscape – only New Zealand and Australia ranked higher. The Isle of Man was the first jurisdiction to be named a UNESCO Biosphere, a status that recognises a balance of people and nature and celebrates and protects the breadth and range of biodiversity. The Island has 95 miles of beautiful coastline, including 32 beaches, and 26 amazing official dark sky sites for stargazing.
The Island is also more attractive to first-time expats – for 64% of those relocating, it was their first experience of living abroad.
Visit the accountancy careers hub at: www.accountancycareersisleofman.com