On 30 June 2025, the Isle of Man Treasury issued a notice on an increase in the penalties for late VAT payments effective for accounting periods starting from 1 June 2025, and certain other changes. Note that the UK has implemented the same increase for VAT payers, but effective 1 April 2025 (policy paper).
---
VAT: minor legislative changes come into operation; Late payment penalties increase and final VAT return deadline extended
The Treasury advises that minor legislative amendments t…