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.