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HMRC internal manual

Double Taxation Relief Manual

Isle of Man: double taxation agreement, Article 12: Termination

This Arrangement shall continue in effect indefinitely but either of the Governments may, on or before the 30th day of June in any calendar year after the year 1956 give notice of termination to the other Government and in such event, this Arrangement shall cease to be effective-

(a) In the United Kingdom:

as respects income tax (including surtax) for any year of assessment beginning on or after the 6th April in the calendar year next following that in which the notice is given;

as respects profits tax in respect of the following profits -

(i) profits by reference to which income tax is chargeable for any year of assessment beginning on or after the 6th April in the calendar year next following that in which the notice is given;  


(ii) other profits being profits by reference to which income tax is not chargeable, but which arise in any chargeable accounting period beginning on or after the 1st April in the next following calendar year or are attributable to so much of any chargeable accounting period falling partly before and partly after that date as falls after that date;  

(b) In the Island:

as respects income tax and surtax, for any year of assessment beginning on or after the 6th April in the calendar year next following that in which such notice is given.