2009-10 ISLE
OF MAN BUDGET AT A GLANCE
2009-10 ISLE OF MAN BUDGET AT A GLANCE
- £5.6 million or 1.0% increase in net Departmental revenue spending on public services;
- Personal Allowance Credit increased to a £550 flat rate payment to all eligible persons with income of less than £9,200;
- Income tax personal allowances remain at £9,200 for single persons and £18,400 for married couples;
- Additional personal allowance remains at £2,000 for over 65’s taking their allowance to £11,200 for single persons, and £22,400 for married couples.
- Personal income tax standard rate stays at 10%, with the higher rate remaining at 18%;
- Tax cap on total income tax payable per person remains at £100,000 or £200,000 per married couple;
- Jobseekers Allowance made a non-taxable benefit;
- £0.2 million surplus expected in 2009-10; £14.0 million surplus in the current year;
- Capital programme at £126.8 million;
- £30 million is to be transferred to various Reserves in the current year;
- Income Tax personal allowances remain unchanged at -
- Single Person’s Allowance £9,200
- Married Couple’s Allowance £18,400
- Single Parent Allowance £15,500 (including Single Person’s Allowance)
- Registered Blind Person Additional Allowance and Disabled Person Allowance £2,850
- Thresholds at which higher rate becomes payable remain at -
- Single Person remains at £10,500 of taxable income;
- Married Couple remains at £21,000 of taxable income, fully transferable between husband and wife;
- Single persons may have incomes of £19,700 before paying tax at the higher rate of 18%, whilst for married couples this figure is £39,400;
Further information from :
Mark Shimmin, Chief Financial Officer,
The Treasury, Isle of Man
Telephone: (01624) 685586
Fax: (01624) 685662
email: budget@treasury.gov.im
2009-10 Budget
News Releases
- Main Budget press release
- Budget at a glance
- Government Finances
- Government Finances - 'difficult decisions'
Previous years
2009-10 ISLE OF MAN BUDGET AT A GLANCE
- £5.6 million or 1.0% increase in net Departmental revenue spending on public services;
- Personal Allowance Credit increased to a £550 flat rate payment to all eligible persons with income of less than £9,200;
- Income tax personal allowances remain at £9,200 for single persons and £18,400 for married couples;
- Additional personal allowance remains at £2,000 for over 65’s taking their allowance to £11,200 for single persons, and £22,400 for married couples.
- Personal income tax standard rate stays at 10%, with the higher rate remaining at 18%;
- Tax cap on total income tax payable per person remains at £100,000 or £200,000 per married couple;
- Jobseekers Allowance made a non-taxable benefit;
- £0.2 million surplus expected in 2009-10; £14.0 million surplus in the current year;
- Capital programme at £126.8 million;
- £30 million is to be transferred to various Reserves in the current year;
- Income Tax personal allowances remain unchanged at -
- Single Person’s Allowance £9,200
- Married Couple’s Allowance £18,400
- Single Parent Allowance £15,500 (including Single Person’s Allowance)
- Registered Blind Person Additional Allowance and Disabled Person Allowance £2,850
- Thresholds at which higher rate becomes payable remain at -
- Single Person remains at £10,500 of taxable income;
- Married Couple remains at £21,000 of taxable income, fully transferable between husband and wife;
- Single persons may have incomes of £19,700 before paying tax at the higher rate of 18%, whilst for married couples this figure is £39,400;
Further information from :
Mark Shimmin, Chief Financial Officer,
The Treasury, Isle of Man
Telephone: (01624) 685586
Fax: (01624) 685662
email: budget@treasury.gov.im
2009-10 Budget
News Releases
- Main Budget press release
- Budget at a glance
- Government Finances
- Government Finances - 'difficult decisions'
Previous years
