The Income Tax Division of the Treasury has announced two new statutory concessions for pension schemes.
Both have been approved by Tynwald and took affect from April 6 this year.
They are: Concurrency of personal pension plans and occupational pension schemes; and approved pension schemes trivial commutation lump sums.
The Treasury says these are both part of a wide-ranging review of pension schemes tax systems.
More changes are expected when a new income tax bill is considered by the House of Keys later this year.
More details can be found on the government's website, www.gov.im
"Years ago I dreamed about being in the place I am today"
Subway to return to Douglas
Budget 2026: Treasury Minister’s plan for ‘stability, security and confidence’
Budget 2026: Largest personal tax uplift could help boost local economy
