Rates
Tax Rates for Companies
Income tax rates | 02/03 | 03/04 | 04/05 | 05/06 | 06/07 | 07/08 | 08/09 |
Lower rate for Resident trading Companies | 10% | 10% | 10% | 10% | n/a | n/a | n/a |
Standard rate for Resident trading Companies | 15% | 15% | 15% | 15% | n/a | n/a | n/a |
Higher rate Resident Companies on all other income | 18% | 18% | 18% | 18% | n/a | n/a | n/a |
Lower rate for Non Resident Companies trading income | 18% | 18% | 10% | 10% | n/a | n/a | n/a |
Higher rate for Non Resident Companies on all other income. | 18% | 18% | 18% | 18% | n/a | n/a | n/a |
Standard rate for all resident and non-resident companies | - | - | - | - | 0% | 0% | 0% |
Banking Business income | - | - | - | - | 10% | 10% | 10% |
Land and Property income from Manx sources | - | - | - | - | 10% | 10% | 10% |
PERSONAL ALLOWANCES 2010-11
Single Person | £9,300 |
Married Couple (combined) | £18,600 |
Single Parent Addition | £6,400 |
Blind Person | £2,900 |
Disabled Person | £2,900 |
Non-Resident | £0 |
INCOME TAX RATES
Standard Rate | 10% |
Higher Rate | 20% |
Non-Resident Rate | 20% |
STANDARD RATE TAX THRESHOLDS
Single Person | £10,500 |
Married Couple (combined) | £21,000 |
Balance taxable at | 20% |
02/03 | 03/04 | 04/05 | 05/06 | 06/07 | 07/08 | 08/09 | 09/10 | |
Standard rate | 10% | 10% | 10% | 10% | 10% | 10% | 10% | 10% |
Single person lower rate band | 10000 | 10000 | 10000 | 10300 | 10500 | 10500 | 10500 | 10500 |
Married couple lower rate band | 20000 | 20000 | 20000 | 20600 | 21000 | 21000 | 21000 | 21000 |
Higher rate | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% |
Non-resident rate | 18% | 18% | 18% | 18% | 18% | 18% | 18% | 18% |
