Isle of Man taxation

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Private Client
Our team of experienced advisors can assist and navigate you through the tax issues arising when establishing a business, moving to the Island, leaving the island, passing on wealth alongside residence and domicile issues. We can help minimise the impact that taxes, such as income tax, capital gains tax and inheritance tax, may have upon your personal wealth.

The Isle of Man offers a highly attractive tax environment for both individuals and businesses. With its independent tax system, the Island provides competitive income tax rates, no capital gains tax, and no inheritance tax. This can make an attractive jurisdiction for new residents

The 0% corporate tax rate for many businesses also makes it an appealing jurisdiction for companies.

For Individuals

01 Personal Income Tax

The Isle of Man operates a simple tax structure with a competitive tax-free personal allowance followed by two favourable progressive tax brackets. With a maximum rate of 22% (reducing to 21% for the 25/26 tax year).

02 Tax Cap

Individuals can elect for their tax liability to be capped to a fixed amount, which limits the total tax payable, making it beneficial for high-net-worth individuals.

03 No Capital Gains Tax

There is no taxation on the disposal of assets.

04 No Inheritance Tax

Wealth can be passed on without incurring inheritance tax.

For Businesses

01 Corporate Tax

The Isle of Man has a 0% corporate tax rate for most businesses, with exceptions for banking, retail businesses and businesses with income from IOM land/property.

02 VAT & Customs

The Isle of Man is part of a Customs Union with the UK which facilitates trade between both jurisdictions. The Isle of Man and UK maintain similar VAT rules which help maintain simplicity.

03 Withholding Taxes

The Isle of Man does not impose withholding tax on dividends. It only imposes withholding tax on interest & royalty payments in limited circumstances.

04 No Transfer Pricing Rules

Businesses operating in the Isle of Man do not have to comply with any Isle of Man specific transfer pricing regulations.

Our services

The Isle of Man is a fantastic place to live with a lot of attractive qualities. One of those qualities is a competitive tax regime. If you are considering moving to the Isle of Man and would like to understand if this a good option for you, please don’t hesitate to let us know.

Whether it’s completing your personal tax return or a return on behalf your company GT can help you understand your requirements and assist you to simply and efficiently ensure you meet your tax reporting obligations. We provide:

Assistance with IOM and UK corporate and personal tax returns
Tax advice on relocating to the Isle of Man
Access to a professional team with a broad range of tax expertise. Whether you have issues with payroll, indirect taxes or some problem we can help.

We help businesses of varying sizes understand their requirements and achieve their goals.

Why Grant Thornton

As Isle of Man-based tax advisors, we provide expert guidance on structuring your finances and businesses to maximise tax efficiency. Whether you are an individual looking to relocate or a business seeking tax advantages, we offer tailored solutions to meet your needs.