Isle of Man
Taxation in Isle of Man
Recent forum posts
-
MMOexp Lineage 2M: Shadow and Fury – The Antharas Campaign
In the vast and dangerous world of Lineage 2M, few threats compare to the might of Antharas, the legendary Earth Dragon. As one of the game's most formidable world bosses, Antharas poses a significant challenge to even the most experienced adventurers. In Shadowstrike of the Antharas Awakening, players who favor swift, lethal attacks and tactical positioning—particularly those using Shadowstrike—c
Total Posts: 1 Last post by Lilidala
-
MMOexp Monopoly Go: Heist Strategies for Golden Peg Success
Monopoly Go by Scopely takes the classic board game to new heights with competitive mechanics, fast-paced rolls, and exciting mini-events. One of the most thrilling events in the game is the Bank Heist, and Monopoly Go Stickers when combined with the ultra-rare Golden Peg, it becomes a high-stakes opportunity for massive gains. In this gu
Total Posts: 1 Last post by Lilidala
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.