Income Tax and National Insurance News

2015-16 National Income Report

The Island has a buoyant economy, despite a slight drop in national income for 2015/16. The national income report for the year, published today, shows that...
Friday, 10 November 2017

Delay in abolition of Class 2 self-employed contributions

The Treasury Minister, Alfred Cannan MHK, has announced a delay of 12 months in the abolition of Class 2 self-employed National Insurance contributions,...
Thursday, 9 November 2017

Isle of Man ratifies new OECD tax treaty

The Isle of Man and Austria are the first countries to ratify a new international treaty against tax avoidance by multinational companies. The Isle of Man...
Wednesday, 1 November 2017

Tax agreement with Turkey enters into force

The Isle of Man’s Agreement for the Exchange of Information Relating to Tax Matters with the Government of the Republic of Turkey enters into force on 7 October...
Friday, 29 September 2017

Tax deadline just over one week away

With just one week to go until the October 6 deadline for the submission of personal income tax returns, Treasury has announced extra assistance to help people...
Wednesday, 27 September 2017

More taxpayers are going online

The number of taxpayers discovering the benefits of submitting their personal income tax returns online continues to grow.  With less than one month to go...
Monday, 11 September 2017

Consultation on proposed pension freedoms

The Treasury has today launched a consultation proposing the introduction of a new pension scheme that would provide its members with greater pension...
Tuesday, 18 July 2017

Online tax returns submitted continue to grow

The number of people submitting their personal tax return online continues to grow rapidly. Over 18,000 personal tax returns were submitted last year and in...
Monday, 10 July 2017

Consultation on ending State Pension ‘contracting out’

The Treasury has launched a consultation on ending the scheme which allows some employers and employees to pay a lower rate of National Insurance contribution...
Friday, 7 July 2017

FATCA and CRS Reporting Deadlines Near

The 30 June 2017 deadline for Isle of Man Financial Institutions to submit their 2016 US FATCA reports to the Income Tax Division is now less than one month...
Thursday, 1 June 2017