- Interest rates for VAT and indirect taxes in the Isle of Man will decrease from 28 May 2025
- Change due to the Bank of England base rate decreasing to 4.5 percent
- Isle of Man aligns VAT and tax management with the United Kingdom
- New late payment interest rate will be 6.75 percent
- New repayment interest rate will be 3.25 percent
- Timely payments avoid late payment interest
- Overpayments may qualify for repayment interest
Source: gov.im
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.
