Isle of Man

Individual - Income determination

Last reviewed - 09 January 2020

A resident is assessable on income from employment (including most benefits) and income from annual profits of any self-employment (either profession or trade), wherever carried out.

A non-resident is assessed on income from employment and income from annual profits of any self-employment carried on in the Isle of Man. There is no remittance basis of assessment.

Capital gains

There is no capital gains tax in the Isle of Man.

Investment income

Investment income is charged to tax as follows:

  • For a resident: On income from any source inside or outside the Island.
  • For a non-resident: On income arising in the Island, at the prevailing higher rate of income tax (see the Taxes on personal income section). However, by extra statutory concession, the Treasury will take no action to pursue the liability to income tax on bank interest, building society interest, and dividends.