Hi! If you're new here, you might want to register for free email updates. Just use the form at the top of the sidebar. Thanks for visiting The Payroll Blog!

New tax agreements between the Isle of Man and the United Kingdom were signed at a ceremony in Douglas on 29 September 2008.  The governments have agreed to amend the provisions of the 1955 double taxation agreement by adding provisions on the taxation of income from pensions and a mutual agreement procedure.  Once the new provisions are in force, many pensions paid from the United Kingdom to people living in the Isle of Man will be taxed in the Isle of Man only.  In addition taxpayers will be given new rights under the agreement to ask one government to intervene in order to resolve problems arising from the application of the agreement.

Continue reading

Posted October 6th, 2008 | No Comments »

The Department of Trade & Industry Minister, David Cretney, will be asking Tynwald to support an increase in the rate of the minimum wage on the Isle of Man at the sitting of the Court on17 June 2008. The proposed increase, from £5.60 to £6 per hour, is a 7.1% increase, and, if approved, will come into effect on 1 October 2008.

Continue reading

Posted June 16th, 2008 | No Comments »

The Income Tax Division, on 13 May, published a document outlining proposed changes to the taxation of company cars and fuel provided to employees by their employers. In line with the Treasury Minister’s announcement in his 2008 Budget speech, the proposals for a thoroughly updated system are based more on environmental impact and aligned with the new simplified annual vehicle duty bands used by the Department of Transport.

Continue reading

Posted May 19th, 2008 | No Comments »

The Income Tax Division of Treasury has released a further enhancement to its Online Tax Services which will allow employers to submit employee details.

Continue reading

Posted May 12th, 2008 | No Comments »