Source-cited draft: tax overview 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 income tax year
6 April to 5 AprilIncome Tax Act 1970View source ↗
Currency
Manx pound (IMP), at par with pound sterling (GBP)Currency Act 1992
Tax authority (direct tax)
Income Tax Division of the Treasury (Assessor of Taxes)Income Tax Act 1970View source ↗
Indirect tax authority (VAT/Customs)
Isle of Man Customs and Excise DivisionValue Added Tax Act 1996View source ↗
Personal residence basis
Residents taxed on worldwide income; non-residents taxed on Isle of Man-source income onlyIncome Tax Act 1970View source ↗
Headline personal income tax rates (2025/26)
Standard (lower) rate 10%; upper rate 21%Income Tax Act 1970View source ↗
Annual personal tax cap (election)
IMP 220,000 per individual; IMP 440,000 per jointly assessed coupleIncome Tax Act 1970View source ↗
Headline corporate income tax rate
0% standard rate (10%/20% for specified activities; 15% Pillar Two top-up for in-scope groups)Income Tax Act 1970View source ↗
Does VAT/GST exist?
Yes — UK-aligned VAT under a Customs and Excise revenue-sharing agreement with the UK; standard rate 20%Value Added Tax Act 1996View source ↗
Capital gains tax and inheritance tax
No capital gains tax and no inheritance tax in the Isle of ManIncome Tax Act 1970View source ↗
Personal income tax return deadline
Before 6 October following the end of the tax yearIncome Tax Act 1970View source ↗
Company income tax return deadline
Within 1 year and 1 day of the accounting period end ((approx — confirm))Income Tax Act 1970View source ↗
Rendered from the canonical facts model. General reference only — confirm with a qualified professional before acting.
The Isle of Man is a self-governing British Crown Dependency with its own low-tax regime, administered by the Income Tax Division (Assessor of Taxes). It operates a UK-style VAT through a Customs and Excise revenue-sharing agreement, but its direct-tax rates are markedly lower than the UK's.
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Other IM computations in the OpenAccountants Tax Library.