Tax Rates for Companies
Rates
| Income tax rates
| 01/02 | 02/03
| 03/04
| 04/05 | 05/06 | 06/07 | 07/08 |
|---|
| Lower rate for Resident trading Companies | 12% | 10% | 10% | 10% | 10% | n/a | n/a |
| Standard rate for Resident trading Companies
| 18% | 15% | 15% | 15% | 15% | n/a | n/a |
| Higher rate Resident Companies on all other income | 18% | 18% | 18% | 18% | 18% | n/a | n/a |
| Lower rate for Non Resident Companies trading income | 18% | 18% | 18% | 10% | 10% | n/a | n/a |
| Higher rate for Non Resident Companies on all other income. | 18% | 18% | 18% | 18% | 18% | n/a | n/a |
| Standard rate for all resident and non-resident companies | - | - | - | - | - | 0% | 0% |
| Banking Business income | - | - | - | - | - | 10% | 10% |
| Land and Property income from Manx sources | - | - | - | - | - | 10% | 10% |
For further information on 2007/08 rates of taxation, please see PN 142/07
Thresholds
| Year
| Limit
| Lower rate
| Higher rate
|
|---|
| 07/08 | n/a | n/a | n/a |
| 06/07 | n/a | n/a | n/a |
| 05/06 | £100 m | 10% | 15% |
| 04/05 | £100 m | 10% | 15% |
| 03/04
|
£100 m
| 10% | 15% |
| 02/03
| £500,000
| 10% | 15% |
| 01/02
| £500,000
| 12%
| 18%
|
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