Post Study Work to Entrepreneur ( Isle of Man or UK)?

[fatguyslim]

Hey everyone, I have a very bizarre situation here. The thing is on 27th of April my PSW visa is gonna run out. My first entry in the UK was in September 2006, so say if I apply for an Entrepreneur visa now in April then after 3 years I have a chance of applying for right to remain (completing my 10 years in Britain legally). Now knowing that I have to show £200,000 in my account during my time of application, the money will be coming into the account from a third source.

This means if the account is registered to an address in the UK then I will be liable to pay capital gains tax (which I will try my best to avoid paying to be honest). Now I was staying in the isle of man last year and since then I have been technically travelling all over. All my bank accounts are still registered to my address in the Isle of Man. My current account which I use for all my transactions is also from Isle of Man bank. So if the money was to be transferred into my Isle of Man account then I can easily avoid the capital gains tax.

So I think I have three options... 1st is to change my address to a British one, say for one of my bank accounts. This will then allow me to have residence addresses in both UK and the Isle of Man so when I apply for the application I can have the money in the Isle of Man and yet be able to show the home office that I am residing in the UK and wish to use the money for my business in the UK (avoiding all tax issues). 2nd is that I apply for a British Tier 1 (Entrepreneur) from the Isle of Man and then move back to the UK where I am wishing to start my business (again all for the sake of capital gains tax). 3rd is to apply for Isle of Man Tier 1 (Entrepreneur) which has exactly the same criteria but not sure if my 3 years and 6 months IoM visa would count towards the 10 years, to qualify for right to remain at a later date?

Lastly I would like to add that the third source who is providing me with this money (even though I have full access to it), would like the money back in their investments (which I don't have ability to access from the Isle of Man). So this is more of a tax based question... Will the third party get capital gains tax if I was to transfer the cash back into their account at a later date? This is only because the investments we (me and the third source) make in the UK are more profiting than the Isle of Man.

I hope all the info here is clear. If you guys find it hard to understand then please let me know. I will try my best to clear it for you. Cheers