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Tax return deadline nears

by isleofman.com 17th September 2015
The 6 October 2015 deadline for submitting 2014/15 personal tax returns is now less than three weeks away.

If the Income Tax Division has not received personal tax returns for the year ended 5 April 2015 by 6 October 2015, taxpayers will be charged a ?100 penalty. If the return has still not been received by the Division by 6 April 2016, a further ?200 penalty will be charged. Even if the penalties are paid, the tax return must still be submitted and people may be prosecuted for failing to do so.

Taxpayers are reminded that they can submit their tax return online - one in every four individuals currently does so. To register they should go to www.gov.im/onlineservices as soon as possible, follow the link to enrol for Income Tax Services and proceed to complete the registration and enrolment process by selecting ‘Individual Tax Service’.

Assistance can also be provided for online registration by telephoning 685400 to obtain the activation codes required for enrolment or by visiting the Income Tax Division in person during normal working hours.

Due to the high volume of people wanting to register online immediately before last year’s deadline, additional assistance will be available this year by telephoning 685400 outside normal working hours as follows:

Wednesday 30 September 2015 and Thursday 1 October 2015 5.30pm to 8.30pm
Friday 2 October 2015 5pm to 8.30pm
Saturday 3 October 2015 2pm to 5pm
Sunday 4 October 2015 2pm to 8pm
Monday 5 October 2015 5.30pm to 10pm

The wide range of existing online services allows people to receive tax returns, assessments, tax codes and letters electronically and calculate their tax liability immediately after completing their online return. Users can also review their balances, pay their tax bills and have any refunds of income tax overpayments paid directly into their bank account.

Paper returns can be put through the letterboxes located at the front entrance to, or on the 2nd floor inside, Government Office.

If anyone requires a duplicate tax return, they should contact the Division as soon as possible so that it can be issued and returned before the deadline.

The Division would also like to take this opportunity to remind everyone that they still have an opportunity to contribute to the current consultations in respect of:

• proposed changes to individual taxation; and
• National Insurance for workers over State Pension Age,

which close on 9 and 14 October 2015 respectively. Details can be found in the consultations section of the Government website; Consultations - Isle of Man Public Services.
Posted by isleofman.com
Thursday 17th, September 2015 04:01pm.

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