Rates and allowances
| Personal Allowances 2021/22 | |
|---|---|
| Single Person | £14,250 |
| Jointly Assessed Couple | £28,500 |
| Additional Personal Allowance | £6,400 |
| Blind Person | £2,900 |
| Disabled Person | £2,900 |
| Income Tax rates | |
| Standard Rate | 10% |
| Higher Rate | 20% |
| Non-Resident Rate | 20% |
| Standard rate tax thresholds | |
| Single Person | £6,500 |
| Joint Assessed couple | £13,000 |
| Balance taxable at | 20% |
| Income Tax Cap amount | |
| Single Person | £200,000 |
| Joint Assessed couple | £400,000 |
Income Tax Rates and Allowances
See the National Insurance Rates and Thresholds on this page.
| 15/16 | 16/17 | 17/18 | 18/19 | 19/20 | 20/21 | 21/22 | |
|---|---|---|---|---|---|---|---|
| Standard rate | 10% | 10% | 10% | 10% | 10% | 10% | 10% |
| Single person standard rate band | 10500 | 8500 | 6500 | 6500 | 6500 | 6500 | 6500 |
| Jointly Assessed couple standard rate band | 21000 | 17000 | 13000 | 13000 | 13000 | 13000 | 13000 |
| Higher rate | 20% | 20% | 20% | 20% | 20% | 20% | 20% |
| Non-resident rate | 20% | 20% | 20% | 20% | 20% | 20% | 20% |
| Single person Tax Cap amount | 125,000 | 125,000 | 125,000 | 150,000 | 175,000 | 200,000 | 200,000 |
| Jointly Assessed Couple Tax Cap amount | 250,000 | 250,000 | 250,000 | 300,000 | 350,000 | 400,000 | 400,000 |
| Single allowance | 9500 | 10500 | 12500 | 13250 | 14000 | 14250 | 14250 |
| Additional personal allowance* | 6400 | 6400 | 6400 | 6400 | 6400 | 6400 | 6400 |
| Blind persons / Disabled persons | 2900 | 2900 | 2900 | 2900 | 2900 | 2900 | 2900 |
| Age allowance** | 1000 | 1000 | 0 | 0 | 0 | 0 | 0 |
| Non-resident allowance | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Mortgage and Loan Interest limit*** | 7500 | 7500 | 5000 | 5000 | 5000 | 5000 | 5000 |
| BIK****exemption (not car benefit) | 400 | 400 | 400 | 600 | 600 | 600 | 600 |
| Nursing expenses limit | 9300 | 9300 | 12500 | 12500 | 12500 | 12500 | 12500 |
| Charitable Donations | 7000 | 7000 | 7000 | 7000 | 7000 | 7000 | 7000 |
| Private medical insurance limit | 1800 | 1800 | 1800 | 1800 | 1800 | 1800 | 1800 |
| Homestay (TT fortnight only) | 1800 | 1800 | 1800 | 1800 | 1800 | 1800 | 1800 |
IMPORTANT NOTE - From 6 April 2012, tax relief for certain general deductions is restricted to 10% for individuals. The general deductions affected are; interest paid on mortgages or loans, charitable donations or deeds of covenant, private medical insurance payments, nursing expenses and educational deeds of covenant entered into on or before 5 April 2011 and where the student is in qualifying full time education at that date. For tax years prior to 2012/13, general deductions were treated as reducing an individual’s taxable income and tax relief was therefore given at the individual’s effective rate of income tax. From 6 April 2012, 10% tax relief for the affected general deductions will be treated as reducing an individual’s total liability.
* Single parent additional allowance
** Age allowance was available to Isle of Man residents who are 65 or over at the start of the tax year
*** Mortgage and Loan Interest limit is for a single person, limit is doubled for a jointly assessed couple
**** Benefit in Kind
Interest and Repayment Supplement rates can be found in Practice Note PN 154/09.
For information on VAT see Customs and Excise.
