A seminar on personal tax issues relating to UK nationals working in Bermuda, which is scheduled for the Princess Hotel next Wednesday, has drawn a strong response with some 175 people signing up for it.

It is being offered by the Hampden Group, a leading supplier of management services to the insurance and reinsurance industries worldwide.

Hampden's Steve Tacey said: "The idea for a seminar grew out of a chance comment made by Hampden Group director Dick Sutton to David Ezekiel, chairman of the International Companies Division of the Chamber of Commerce.

"This resulted in an invitation to Dick and his colleague Janet Mitchell, the Hampden Group's senior personal tax consultant, to host a tax seminar on the Island in February for all members of the Bermuda Chamber of Commerce.'' Mr. Tacey said, "Bermuda is home to many offshore companies -- the majority of which are insurance and reinsurance captive companies. The Island is free of personal taxation.

"Many Bermuda-registered companies employ executives and senior personnel from the UK. On their return to Britain, these individuals can often find that the vagaries of the UK taxation system can become burdensome.

"Often they will have done little or no tax planning prior to their return.

With this is mind, the tax seminar will cover issues related to income tax, capital gains tax, inheritance tax and the results of a change of residence/domicile status.'' The Hampden Group subsidiaries are active in the fields of accounting and administration, claims services, commutations, computer services, reinsurance collections, tax services and the management of syndicates in run-off under contract to Equitas.

TAXES TAX BUSINESS BUC