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Isle of Man
Individual - Sample personal income tax calculation
Last reviewed - 30 July 2024Tax computations for 2024/25 for a resident single person and resident married couple are as follows:
| Resident single person | IMP |
| Gross earnings | 50,000 |
| Less: | |
| Personal allowance - single | (14,500) |
| Taxable income | 35,500 |
| Income tax payable | |
| First IMP 6,500 x 10% | 650 |
| Remaining IMP 29,000 x 22% | 6,380 |
| Total tax payable | 7,030 |
| Resident married couple (elected to be taxed jointly, only one of the couple is earning income) | IMP |
| Gross earnings | 50,000 |
| Less: | |
| Personal allowance - married couple | (29,000) |
| Taxable income | 21,000 |
| Income tax payable | |
| First IMP 13,000 x 10% | 1,300 |
| Remaining IMP 8,000 x 22% | 1,760 |
| Total tax payable | 3,060 |
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