Source-cited draft: personal income tax for Isle of Man (tax year 2025) — rates, thresholds and rules with primary-source citations. Unverified; pending local-accountant review.
Source-cited draft.Written from sources but not reviewed by a licensed practitioner, so it may be incomplete or wrong. General reference only; don't file or take a position on it without professional review.
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Every figure is drawn from this Tax Guide and cited to its source.
Personal allowance (single)
14,750Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Personal allowance (jointly assessed couple)
29,500Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Personal allowance taper
Reduced by IMP 1 for every IMP 2 of income above IMP 100,000 (single) / IMP 200,000 (couple)Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Standard (lower) rate
10%Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Standard (10%) rate band (single)
First IMP 6,500 of taxable income above the personal allowanceIncome Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Standard (10%) rate band (jointly assessed couple)
First IMP 13,000 of taxable income above the personal allowanceIncome Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Upper rate
21%Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Non-resident income tax rate
20% on Isle of Man-source income (no personal allowance)Income Tax Act 1970 (https://taxsummaries.pwc.com/isle-of-man/individual/taxes-on-personal-income)
Annual tax cap (election)
IMP 220,000 individual / IMP 440,000 jointly assessed couple, fixed for a 5-year election periodIncome Tax Act 1970 (https://www.pwc.com/im/en/services/tax/isleofman-tax-rates.html)
Deductible interest relief
Tax relief available for qualifying loan/mortgage interest and certain other deductions, subject to caps ((approx — confirm cap))Income Tax Act 1970 (https://www.gov.im/categories/tax-vat-and-your-money/income-tax-and-national-insurance/individuals/residents/rates-and-allowances/)
Residence test
Generally resident if present 183+ days in a tax year, or present on average 90+ days a year over four years ((approx — confirm))Income Tax Act 1970 (https://taxsummaries.pwc.com/isle-of-man/individual/residence)
Return filing deadline
Before 6 October following the end of the tax yearIncome Tax Act 1970 (https://taxsummaries.pwc.com/isle-of-man/individual/tax-administration)
Late filing penalty
IMP 100 automatic penalty; further IMP 200 if still outstanding by 5 April followingIncome Tax Act 1970 (https://taxsummaries.pwc.com/isle-of-man/individual/tax-administration)
Balancing payment due date
6 January following the end of the year of assessmentIncome Tax Act 1970 (https://taxsummaries.pwc.com/isle-of-man/individual/tax-administration)
Rendered from the canonical facts model. General reference only — confirm with a qualified professional before acting.
Resident individuals pay tax at just two rates on income above the personal allowance, and may elect an annual tax cap. Non-residents are taxed only on Isle of Man-source income, generally at the 20% non-resident rate.
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Other IM computations in the OpenAccountants Tax Library.