Isle of Man Raises VAT Registration and Deregistration Thresholds

• Isle of Man has increased the thresholds for VAT registration and deregistration
• The new thresholds will make it easier for small businesses to avoid registering for VAT
• Businesses with a taxable turnover of £85,000 or more must register for VAT
• Businesses with a taxable turnover of less than £85,000 can choose to register voluntarily

Source: research.ibfd.org

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.