Isle of Man News - POSTED Mon 10-07-2017

Online tax returns submitted continue to grow

by LC

The number of people submitting their personal tax return online continues to grow rapidly. Over 18,000 personal tax returns were submitted last year and in excess of 7,000 2016/17 tax returns have already been received.
As the 6 October deadline for submitting 2016/17 personal tax returns is now just under three months away, the Income Tax Division would like to actively encourage everyone to do so using this fast and convenient method and remind them registration for new users has never been simpler.
The enrolment process to enable immediate submission of their return online can be completed by calling 685400 (option 2) during normal office hours.
There are numerous benefits that the Online Tax Service provides including:
• Personal details, employment and state benefit information which are often pre-completed; even on first registration and without the need to provide supporting evidence;
• Calculation of your tax liability so that you know immediately if your tax account is in credit or debit;
• Faster processing and any refunds can be sent directly to your bank account
If the Income Tax Division has not received personal tax returns for the year ended 5 April 2017 by 6 October 2017, taxpayers will be charged a £100 penalty. If the return has still not been received by the Division by 6 April 2018, a further £200 penalty will be charged. Even if the penalties are paid, the return must still be submitted and people may be prosecuted for failing to do so. 
Online Government Services can also be used to pay road tax, rates bills and to make electricity payments.

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