The Isle of Man 2023-24 Budget was presented on 21 February 2023. An overview of the budget measures from the Treasury includes the following:
- The income tax personal allowance will remain at IMP 14,500 for a resident individual and IMP 29,000 for a jointly assessed couple;
- For higher earners, the personal allowance will be tapered and reduced by IMP 1 for every IMP 2 that a person’s total income is above IMP 100,000 (IMP 200,000 for jointly assessed couples). This means if a person’s total…