Isle of Man
Individual - Sample personal income tax calculation
Last reviewed - 12 February 2025Tax 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 | (14,750) |
Taxable income | 35,250 |
Income tax payable | |
First IMP 6,500 x 10% | 650 |
Remaining IMP 28,750 x 21% | 6,037.50 |
Total tax payable | 6,687.50 |
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 | (29,500) |
Taxable income | 20,500 |
Income tax payable | |
First IMP 13,000 x 10% | 1,300 |
Remaining IMP 7,500 x 21% | 1,575 |
Total tax payable | 2,875 |