Isle of Man

Individual - Sample personal income tax calculation

Last reviewed - 09 February 2021

Tax computations for 2020/21 for a resident single person and resident married couple are as follows:

Resident single person	IMP

Gross earnings	50,000
Less:
Personal allowance - single	(14,250)
Taxable income	35,750

Income tax payable
First IMP 6,500 x 10%	650
Remaining IMP 29,250 x 20%	5,850
Total tax payable	6,500

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	(28,500)
Taxable income	21,500

Income tax payable
First IMP 13,000 x 10%	1,300
Remaining IMP 8,500 x 20%	1,700
Total tax payable	3,000