Isle of Man

Individual - Sample personal income tax calculation

Last reviewed - 09 January 2020

Tax computations for 2018/19 for a resident single person and resident married couple are as follows:

Resident single person IMP
   
Gross earnings 50,000
Less:  
Personal allowance - single (14,000)
Taxable income 36,000
   
Income tax payable  
First IMP 6,500 x 10% 650
Remaining IMP 29,500 x 20% 5,900
Total tax payable 6,550
   
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 (28,000)
Taxable income 22,000
   
Income tax payable  
 First IMP 13,000 x 10% 1,300
 Remaining IMP 9,000 x 20% 1,800
 Total tax payable 3,100