Tax return extended deadline approaches

Extensions to various tax return deadlines were announced by the Isle of Man Government on 31 March 2020 in light of the pressures the coronavirus pandemic has placed on all aspects of the lives of individuals and businesses.

The Income Tax Division would now like to take this opportunity to draw attention to those specific returns with an extended deadline of 5 June 2020 and issue a reminder that this deadline is now less than two weeks away. 

In the interests of the safety and welfare of all our customers and staff, the public counter on the Second Floor of Government Office remains closed. 

The team are ready to help with any queries, however, and anyone requiring assistance should call 685400 or get in touch via email at incometax@itd.treasury.gov.im

Employers and Contractors

  • The deadline for employers’ and contractors’ tax returns for the year ended 5 April 2020 was extended from 5 May 2020 to 5 June 2020. If the return is not submitted by this date, a £250 penalty will be charged. Employers and contractors may also be liable to a penalty charge of £50 per day for each day that the return continues to remain outstanding, commencing from the day after that on which the £250 penalty is charged.

Companies

  • Any company due to submit their tax return between 1 April 2020 and 5 June 2020 must do so no later than 5 June 2020 in order to avoid the issue of a first penalty.
  • Any company tax returns still outstanding that would be liable to the second penalty between 1 April 2020 and 5 June 2020 must submit their return no later than 5 June 2020 in order to avoid the issue of a second penalty.

Individuals

  • An individual who has failed to submit their tax return for the year ended 5 April 2019 must do so no later than 5 June 2020 in order to avoid the issue of a penalty of £200.

Residents are reminded that the deadline for the submission of personal income tax returns before the imposition of any penalty has been extended from 6 October 2020 to 6 November 2020 whether the return is submitted online at gov.im/onlineservices or in paper format.

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