- Interest rates for VAT and other indirect taxes in the Isle of Man will decrease from 8 January 2026.
- The late payment interest rate will be 6.25%, and the repayment interest rate will be 2.75%.
- This change follows a decrease in the Bank of England base rate to 3.75%.
- The Isle of Man aligns its tax administration with the United Kingdom.
- 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.
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