Government Offices
Buck's Road, Douglas
Isle of Man IM1 3TX
Enquiries:
+44 (0) 1624 685400
The Income Tax Division on behalf of Treasury has today published a document outlining proposed changes to the taxation of company cars and fuel provided to employees by their employers.
In line with the Treasury Minister’s announcement in his 2008 Budget speech, the proposals for a thoroughly updated system are based more on environmental impact and aligned with the new simplified annual vehicle duty bands used by the Department of Transport.
In order to allow businesses to prepare for this change the proposed new system is expected to become operational from 6 April 2009.
The proposal document can be found here and a detailed Benefit in Kind Guide (GN 40) can be found here. Paper copies can be obtained from the Division or by contacting General Enquiries on 685400.
Malcolm Couch
Assessor of Income Tax
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