Isle of Man

Individuals who are resident in the Isle of Man are liable to tax on their worldwide income from all sources.

A non-resident is liable to tax on any source of income arising or accruing in the Island, with the exception, under extra statutory concession, of bank and building society interest and dividends.

Personal income tax rates

A standard rate of 10% is charged on taxable income of resident individuals on up to 6,500 Isle of Man pounds (IMP) for single persons and £13,000 for jointly assessed couples.

A higher rate of 21% is charged on taxable income exceeding the standard rate limits.

The personal allowance for 2026/27 is £17,000 for single persons and £34,000 for jointly assessed couples, which is reduced by £1 for every £2 that income is in excess of £100,000 for single persons or £200,000 for jointly assessed couples (see the Deductions section).

An Isle of Man resident individual may elect to cap their Income Tax at £220,000 (or £440,000 for jointly assessed couples) for an irrevocable period of five or ten years.

Non-resident individuals are subject to tax at the higher rate of 21% on their taxable income.

Withholding taxes (WHTs)

The Assessor of Income Tax in the Isle of Man can require the deduction of WHT on certain taxable payments made to non-resident individuals (e.g. payments made to a non-resident sub-contractor). The rate of WHT is determined by the Assessor

Local income taxes

There are no other taxes on income.