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Income Tax and National Insurance News

Ending contracting-out of the State Second Pension – consultation response issued

In July 2017, the Treasury undertook a consultation exercise seeking the views of employers and scheme trustees who operate contracted-out pension schemes. ...
Thursday, 8 March 2018

2018/19 notices of coding

In his Budget speech last week, the Treasury Minister announced changes in income tax personal allowances as follows: Personal...
Monday, 26 February 2018

Proposed pensions freedoms consultation responses published

At the July 2017 sitting of Tynwald, the Treasury Minister announced the launch of a public consultation concerning the proposed introduction of a new pension...
Tuesday, 20 February 2018

2018 Budget at a glance

The 2018 Budget puts in place progressive, affordable and sustainable measures to support the continued growth of the Isle of Man economy and to help all...
Tuesday, 20 February 2018

New scam – Telephone calls from HMRC

The OFT is warning the public about a new scam, after being contacted by concerned Manx residents. There is currently a telephone scam where a recorded message...
Thursday, 7 December 2017

Isle of Man retains top rating from OECD

The Isle of Man has retained its top ‘Compliant’ rating by the global body reviewing tax transparency around the world. The OECD (Organisation for Economic...
Friday, 17 November 2017

Treasury warns of hoax emails and contact

The Income Tax Division of Treasury has recently been made aware that local residents have received emails purporting to be from the Division in relation to tax...
Thursday, 16 November 2017

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
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