By his own admission advocate John Rimmer admits he could ‘never be accused of being stuck for words.’
As a partner at Appleby in Athol Street, Douglas, Mr Rimmer specialises in trusts, foudations, estate planning, wills, estates, probates, charity and taxation with private clients.
Business News met up with him shortly after he’d once again been featured in a prestigious publication called the Citywealth Leaders List.
He’s been appearing regularly over several years in this and those honoured to be picked for it are understood to be the creme de la creme of the wealth industry.
Originally from south London Mr Rimmer has been at Appleby for around 15 years.
He’s married to a Manx woman Sarah and they have two teenage children. Coincidentally, Sarah, whose from the Corkill family, once worked as office manager for the UK Conservative party when it was based in Smith Square, London and when Margaret Thatcher and then John Major were in power.
Mr Rimmer says these are changing times.
He said the area of law he works in ‘is undoubtedly under pressure. Not because of private individuals, I do a lot of work for private clients who live in the island and hopefully that will continue.
TRUST COMPANIES
‘But a lot of our work is for trust companies and if that business is threatened then it could easily have a negative effect on the business for advocates generally.
‘My area is narrower in the trust area, the corporate area is a bigger one.
‘But nonetheless the trust business is not an expanding area of law.
‘If anything it has contracted in the 15 years I have been here.’
Mr Rimmer, who often finds himself giving ‘after dinner’ style talks told Business News: ‘There’s two areas really. There’s the ‘‘good,’’ if you like, tax planning and there’s the ‘‘wicked’’ tax planning.
WICKED
‘Historically, the wicked was something none of us would ever want anything to do with.
‘But it is more to do with these moves for disclosure which we are getting at the moment. A lot of that is to show that people are not paying their taxes and so on.
‘There’s a different area which is tax planning. There’s a bit of a spectrum there from people who simply take advantage of opportunities that are given them to people who create artificial arrangements to save themselves tax. That has also become regarded as rather wicked.
‘It’s not criminal but it’s an area where in the last few years , especially when some individuals and some organisations have suffered financially, people have started to focus attention on that artificial tax avoidance and saying that it’s really not fair that these people are not pulling their weight and paying their fair share to society.’
Mr Rimmer said none of that really presents much of a problem for him and his colleagues at Appleby but what it does mean is that the kind of people who want to use the Isle of Man as an offshore base especially for dealing with structures such as trusts and foundations, are going to be from a narrower group of people who can take advantage of those possibilities.
Mr Rimmer said that since the 1930s there have been anti tax avoidance measures.
He added: ‘There is a lot of ignorance in the reporting in the UK and people generally because it can be misleading.’
And he said there was a new phrase, tax mitigation, where people are doing things within the spirit of the law.
But Mr Rimmer said in his opinion what really was causing trust work to ‘contract’ in recent times was that legislation in the UK ‘has moved so that a number of structures that people would set up offshore no longer work.
‘Areas such as employees benefits and to an extent pension schemes and certainly people that have set up trusts historically to save themselves on paying UK taxes have been squeezed over the years.
‘There are relatively few people nowadays who can legitimately take advantage of it.’
PRIVATE CLIENTS
Mr Rimmer stressed he provides a great service for his private clients in the island.
Appleby itself has been around for well over 100 years and has an excellent reputation around the world.
Mr Rimmer added: ‘I think a lot of people are hypocritical because given the opportunity themselves that they could save money on tax they would do it.’
Asked: Will there always be a place for the work you do? he replied: ‘Yes, in many ways it is helpful to people like me and to my department that the legislation is rigorous, because actually we don’t want tax evaders and we don’t want criminal money.
‘We want to deal with people who legitimately want help in the organisation of their affairs. Tax efficiently if there are opportunities.
And he said it helps if legisalation ‘weeds out people who do not come under the spirit of that.’ He added: ‘We are lucky in that we live in a world where goverment is open and supervision by the police and authotrities is open. That is not the case in some areas.’
Mr Rimmer stressed ‘We are not a place where you can come and hide from the tax system.
‘The use of trusts has undoubted been affected by moves in places such as the UK but also in France where there has been aggressive legisaltion.
‘We have to accept that in the world we live in . . . we are not interested in helping people to conceal wealth which is open to scrutiny.’ Mr Rimmer also stressed that the island is a well regulated, compliant jurisdiction ‘and we are not in the business of trying to draw up a drawbridge.’
Appleby staff have consistently appeared in the Citywealth lists over the last few years. Mr Rimmer said it positions the Isle of Man wealth management sector among the most highly regarded jurisdictions in the world.
AIDE-DE-CAMP
Outside of work Mr Rimmer is an honorary aide de camp to the island’s governor.
He said he is part of a small group of people ‘lucky enouugh’ to be asked to do this.
He prefers to remain low key about this role but admits: ‘It is an honour. I’ve been lucky to work with with three governors including the current governor Adam Wood.’
He has met some wonderful people and it has been fascinating. He said Chris Cope, an Appleby colleague, is also an aide-de-camp.
They can often be seen at receptions at Government House , for instance and ensure that visitors are well looked after.
Mr Rimmer is also a keen baritone singer and is a member of the Gilbert and Sullivan Society.
He admits to an uncanny knack for remembering gags and funny stories which he recounts at events .