Stay up to date with the latest news
Latest IOM Government update - 6 January 2021
On 5th January 2021, the Isle of Man Government announced restrictions, including a ‘Stay at Home’ request and social distancing of 2 metres, in order to prevent the spread of coronavirus in the local community. Please get in touch with one of the team today if you require any assistance applying for the grants, or simply finding out more information, we are here to help.
Coronavirus update - January 2021
The Isle of Man has gone into a ‘circuit breaker’ lockdown for 21 days from 00:01 Thursday 7th January.
Reminder: Manx Earnings Replacement Allowance
The Manx Earnings Replacement Allowance ('MERA') provides an income of £200 a week reducing to £100 a week from 3 August 2020 to people who have either been laid off or made redundant from their employment, or have lost their self-employed work, since 2 March 2020.
New Requirements for Accounting Records and Updated Guidance on the Taxation of Distributions from Corporate Taxpayers - Update from the IOM Government
On 20 January 2017 new income tax regulations came into operation in the Isle of Man regarding the making and keeping of accounting records. The new regulations (SD 2016/0343) strengthen the Island’s income tax legislation regarding the making and keeping of accounting records and introduce the international standard for the record retention period.
Consultation on enhanced tax requirements for accounting records - Update from the IOM Government
A consultation has been launched on the updating of the Island’s income tax legislation on the making and keeping of accounting records to meet international standards.
Tax net closes in on over £4 million of undeclared income - Update from the IOM Government
Treasury Minister Eddie Teare MHK has warned that time is running out for Isle of Man taxpayers who have failed to declare income totalling more than £4 million.