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HMRC internal manual

Double Taxation Relief Manual

HM Revenue & Customs
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Double Taxation Relief Manual: Guidance by country: Isle of Man: Credit

Admissible for credit under the agreement

Income tax (other than income tax on dividends and debenture interest).

Admissible for unilateral relief

Tax on debenture interest and (subject to DT9955) on dividends

i) whether the income arises in the Isle of Man or elsewhere (see INTM161120 sub-head (a), and

ii) if the claimant is resident either in the United Kingdom or in the Isle of Man (see INTM161200 sub-head (a).

It follows that a person resident in the Isle of Man who receives dividends or debenture interest from a United Kingdom company is entitled to credit for the Isle of Man tax on that income against the United Kingdom tax on it. Such a person, if an individual, will be entitled to personal allowances under section 56 ITA 2007 (see RE1710 onwards) and his claim to credit is dealt with by the individuals appropriate tax office, normally at the same time as the personal allowances claim (see RE1711).