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