Isle of Man

Individual - Sample personal income tax calculation

Last reviewed - 12 February 2025

Tax 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