On 17 February 2015, the Isle of Man Treasury released the 2015-2016 Budget. The two key tax measures in the Budget are summarized as follows

Individual Tax Liability Cap

The maximum income tax liability cap for individuals is increased from £120,000 to £125,000 for taxpayers newly electing for the cap from the 2015-2016 tax year. For taxpayers who have already made the election for the tax c…