Isle of Man

Individual - Tax administration

Last reviewed - 10 January 2023

Taxable period

The tax year runs from 6 April to the following 5 April.

Tax returns

Income tax returns are issued shortly after the end of the tax year and must be filed before the following 6 October, disclosing total income and any claims for reliefs and allowances for the relevant tax year. Fixed penalties are applied if a return is filed late.

A married couple or civil partnership can elect to file a joint income tax return and are jointly and severally liable for any tax liability.

Payment of tax

An employee’s tax and national insurance contributions are deducted by the employer under the 'Income Tax Instalment Payments' (ITIP) system, with the employer paying the amounts deducted to the Assessor of Taxes each month.

A self-employed individual is required to make a payment on account of their tax and national insurance liability on 6 January in the year of assessment.

An assessment showing the final tax and national insurance liability is issued after the end of the year, and any balance owing is due on 6 January following the end of the year of assessment. Interest is payable on tax paid late.

Partnerships

With effect from 17 June 2021, it is a legal requirement for all partnerships to register with the Assessor of Income Tax. 

This includes Isle of Man general partnerships (including those where partners are a married couple or civil partners) and all types of partnerships and LLCs formed outside the Isle of Man where the partnership is tax resident due to its management and control being exercised in the Isle of Man or it having a place of business in the Isle of Man.

Transitional arrangements are in place for partnerships that were in operation prior to the legislation coming into force.