The Isle of man Tynwald (parliament) has approved the various orders to enact the 2017-18 Budget measures, which generally apply from 6 April 2017. The tax related measures are mainly limited to individual income tax changes, including an increase in the personal allowance by GBP 2,000 to GBP 12,500 and a reduction in the threshold for the first income tax band (10%) by an equal amount to the first GBP 6,500 of taxable income. The income tax rates for both individuals and companies are maintained.