Isle of Man
Legislation was introduced with effect from 6 April 2020 that replaced an extra statutory concession relating to special treatment of key employees.
The special treatment is aimed at individuals who are or will be new residents and who are essential to the implementation and the operation of new business in the Island.
Subject to fulfilling certain conditions, for the first three years after becoming resident for tax purposes, the income of the individual will be treated as if they were not resident in the Island.
National Insurance Holiday Scheme
A scheme introduced on 6 April 2019 that aimed at attracting new people to take up employment and residence in the Island as well as attracting students back to the Island once they have completed their studies elsewhere will continue for a further year.
A person who meets the requirements of the scheme can apply for a refund of the Class 1 National Insurance contributions they pay as an employee during the first 12 months of their employment in the Isle of Man.