TAX RETURN DEADLINE NEARS

The Income Tax Division is taking the opportunity to remind everyone that the deadline for submitting 2008/09 personal income tax returns is now just over three months away.

Tax return penalties were first introduced in 2005. Whilst the number of returns submitted before the deadline has increased as a result, there were still over 4,500 people who incurred penalties last year and, therefore, the amount of the penalties has now been increased.

If the Income Tax Division has not received personal tax returns for the year ended 5 April 2009 by 6 October 2009, taxpayers will incur a £100 penalty. If the return has still not been received by the Division by 6 April 2010, a further £200 penalty will be charged. Even if the penalties are paid, the tax return must still be submitted and people may be prosecuted for failing to do so.

Sending in tax returns early is a good idea because:

• returns are generally reviewed in order of receipt; so the earlier the return is received, the sooner your tax assessment will be dealt with;

• if you are due a tax refund, it can be paid to you sooner;

• if you need to pay any tax the amount will only be due on 6 January 2010 and therefore you will have a longer period in which to pay it; and

• if you visit us you won’t need to worry about queuing up, as often happens closer to the deadline date.

Anyone who moved to the Isle of Man before 6 April 2009 and has not informed the Income Tax Division should do so as soon as possible. They are likely to need to complete a tax return for the period from their arrival to 5 April 2009 and may be liable to a penalty if the return is not submitted before 6 October 2009.

Anyone who has moved home during the last twelve months and has not informed the Division of their new address should contact us as soon as possible to ensure that they receive a tax return form before the submission date. Not having received a return form may not be a sufficient reason to avoid the penalties.

To contact us:

• phone our General Enquiries Section on 685400;or

• visit our General Enquiries Office on 2nd floor, Government Office, Buck’s Road, Douglas. - Opening hours are

Mon - Thurs 9.15am - 5pm

Fri 9.15am - 4.30pm; or

• email incometax@itd.treasury.gov.im or

• write to us at

Income Tax Division

Government Office

Douglas IM1 3TX.

M Couch

Assessor of Income Tax