NewsCase StudiesEvents

Taxation in Isle of Man

Isle of Man

Taxation in Isle of Man

Recent forum posts

 

  1. Bank instruments available such as BG/SBLC/LC

    We are direct provider for BG/SBLC specifically for lease, at leasing price of (3 % +0. 5% + X% ) of face value, Issuance by HSBC Bank London ,Barclays Bank London , Deutsche Bank, & AAA Rated BanksOur BG/SBLC Financing can help you get your project funded, financing by providing you with yearly renewable leased bank instruments. We workdirectly with issuing bank lease providers, this Instru

    Total Posts: 1 Last post by kimsungnyon2018

  2. BG/SBLC,MT103,Monetizing,Project Financing,Loan

    Sir,We do not offer direct funding or loans, we offer Bank Instruments in the form of BGs and SBLCs which can be discounted or monetized for funding and we deliver these instruments in accordance with a set of terms and procedures as set by the provider of these instrument.You can speak with a financial advisor for better understanding of these or we can chat over Skype on this. Please

    Total Posts: 1 Last post by kimsungnyon2018

Taxation on the Isle of Man

Income Tax

Resident individuals and companies are subject to Manx income on their worldwide income. Income tax is levied at a rate of 10% on the first £10,300 of taxable income and 18% on the rest.

Corporate Tax

Companies do not have to pay corporate tax.

VAT

The Isle of Man imposes the UK VAT rate of 17.5%.

Social Security

The social security system is identical to that of the UK. Social security provides for services including healthcare, sick pay, and a basic pension on retirement. Contributions are related to earnings and are deducted at source from salaries along with income tax.

National Insurance

There is a reciprocal agreement between the UK and the Isle of Man which means that any National Insurance contributions that you have paid in the UK will have also have validity in the Isle of Man and vice versa. It should be noted however, that your National Insurance account will not be transferred to the Isle of Man until you have been on the island for at least one year. This means that you will have exactly the same entitlement to all contributory benefits as you did in the UK.

 

Click here to Ask an Expert about Taxation in Isle of Man

Organisations that can assist with Taxation

  • > Sovereign Group

    Sovereign offers a range of advisory and support services to assist companies of all sizes to establish successful business operations in foreign markets.

    More Details Visit Website

You are not logged in!

Please login or register to ask our experts a question.

Login now or register.