Tax return deadline approaching for employers and contractors

The deadline for submitting employer’s and contractor’s tax returns is now just two weeks away.

The statutory due date for the submission of the tax returns is 5 May 2024, however, as the Income Tax Division is closed on that date, the tax returns will not be considered late provided the fully completed return is submitted by midnight on 8 May 2024.  If a tax return is submitted after midnight on 8 May 2024 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.  Even if the penalties are paid, the tax returns must still be submitted and the employer or contractor may be prosecuted for failing to do so.

Employers with fewer than five employees, who are not currently registered for online services, are reminded that they too can submit their tax return online. Anyone interested in doing so can register through www.gov.im/onlineservices 

If you have any concerns or questions regarding signing up to Online Services you can contact the Income Tax office in the following ways:

  • Phone the Customer Service Team on +44 1624 685400
  • Visit or write to the Customer Service Team on 2nd floor, Government Office, Buck’s Road, Douglas. Office opening hours are Monday to Friday 9am – 4pm.
  • Email the Customer Service Team – incometax@itd.treasury.gov.im

Please Note: This Article was published by and remains the property of the Isle of Man Government

You may read the original article

at Isle of Man Government News 2024-04-22.