IoM Enhances Online Filing

by Amanda Banks, Tax-News.com, London

08 April 2010

The Income Tax Division of the Isle of Man Treasury has announced further enhancements to its online services from April 6, 2010 for individuals and employers.

Individuals can now submit their annual return online for any tax year ending April 5, 2009, or later and receive instant notification that the return has been received by the Income Tax Division. This is a new facility which adds to the existing options for individuals who can:

• Notify the Division of changes to their personal circumstances (e.g. getting married, leaving Island etc.);
• View a history of returns submitted;
• View details of returns submitted online;
• View details of assessments and other charges issued;
• View their balance position; and
• Make online payments by BACS credit transfer, debit card or credit card.

The Division will no longer be issuing receipts for returns. The due date for returns issued for the tax year ending April 5, 2010, is October 6, 2010. The Division has further announced that it will henceforth no longer be issuing reminders to individuals to file a return.

With respect to employers, annual returns (T37) can now be submitted online, together with employees’ T14 and T9 details. Employers can already do the following online:

• Submit their monthly remittance details (including ‘nil’ details) and make online payment of ITIP (income tax installment payments) and National Insurance by BACS credit transfer, debit card or credit card;
• View a list of current and previous employees;
• Notify the Division of employees commencing and leaving (T20/T21);
• View the current code for each employee;
• Opt to receive electronic notification of the full list of employees’ codes (T6).

Online Tax Services also provides the user with quick and easy access to a person’s (company's, employer's or agent's) tax details and records and reduces the necessity for the submission of paper documents.

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