There is no stamp duty / SDLT payable in the Isle of Man.
However, Isle of Man property transactions are subject to registration fees. While these are lower than UK SDLT rates they are still potentially significant.
You can see the underlying legislation within the Land Registration General Fees and Duty Order 2023 which details the fees payable.
Different rates apply to investment properties and for properties acquired by non residents but for Isle of Man resident owner / occupiers of properties up to £1m, the recordal fees are banded as follows:-
Properties up to £230,000 – £nil
£230,000-£500,000 – £10 per £1000 (ie 1%)
£500,000 – £999,999 – £20 per £1000 (ie 2%)
A minimum fee of £250 applies.
For transactions above £1m and for non residents and for investment properties the rates are higher so check with your Advocate.
You can also access the calculator from the Isle of Man Government here.
