Personal tax

Overview Personal tax in the Isle of Man is pretty simple. Like the UK, our personal tax year runs from 6 April to 5 April each year. Direct Taxes Our direct taxes – comprising Income tax and National Insurance are administered by the Income Tax Division. They are located in the Government building in Douglas. […]

Corporate tax

Companies in the Isle of Man are subject to Income tax. The good news is that for almost all companies the relevant rate of income tax payable by companies is 0%. (great eh ?) Note: for licensed banks and large retailers (eg M&S / B&Q / Tesco), the rate is 10% and there is a […]

Isle of Man Companies

Isle of Man Companies The Island has been a successful international financial centre since the 1980’s and therefore as you would expect we have a well developed framework of legislation for the incorporation of companies and other legal structures. If you want to know more about Foundations, Trusts, LLC’s, Limited Partnerships or protected cell companies […]

VAT and Customs

While the Isle of Man makes its own laws and operates its own income tax system, we are effectively part of the UK for VAT and Customs purposes. This means there are no restrictions on import or export of items to the UK which makes life easy if you run a business with customers or […]

Crypto Investors

There is a surprisingly strong Crypto community in the Isle of Man. This is partly because as an industry its fits alongside eGaming and financial services – see our article about setting up a Crypto exchange in the Isle of Man – and partly because our tax system – notably the absence of capital gains […]

IHT and the Isle of Man

Take note!! – Inheritance tax is a complex area – so specialist advice is advised… and of course we can assist you with that. In the meantime, here is an overview The good news is that there is no inheritance tax in the Isle of Man. However, liability for Inheritance Tax (IHT) in the UK […]