IoM Increases E-File Options

By ExpatBriefing.com Editorial 24 June, 2011

The Isle of Man Income Tax Division has encouraged taxpayers to file their personal tax returns using the newly-developed online tax services developed by the government, no later than October 6, 2011.

The Income Tax Division says that it has significantly reduced the environmental impact of its operations by reducing the amount of paper it issues and by increasing the range of documents that taxpayers who use online tax services can access. The changes will also cut government expenditure in this area.

Since January 2011, online tax services users have no longer received paper returns, and from early next month, more documents - including assessments, coding notices and balance demands – will be issued online to these users.

The Division has warned that the deadline for filing personal income tax returns for the year ended April 5, 2011, is fast approaching. If a return is not received by October 6, 2011, taxpayers will be charged a penalty of GBP100.

If the return has still not been received by the Division by April 6, 2012, a further GBP200 penalty will be charged. Even if the penalties are paid, the tax return must still be submitted. Prosecution may occur for failure to do so.

Tags: Expatriates | Isle Of Man | Compliance | Tax | Tax Compliance | Offshore | Penalties |

 





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