Tax return deadline approaching for employers and contractors

Tue, 19 Apr 2022

Employers and contractors on the Island are being reminded the deadline to submit tax returns is just over two weeks away.

If the Income Tax Division has not received the tax returns for the year ended 5 April 2022 by 5 May 2022, a £250 penalty will be charged.

Employers and contractors may also be liable to a penalty charge of £50 per day for each day that the return continues to remain outstanding, commencing from the day after that on which the £250 penalty is charged.

Even if the penalties are paid, the tax returns must still be submitted and the employer or contractor may be prosecuted for failing to do so.

Employers with fewer than five employees, who are not currently registered for online services, are reminded that they too can submit their tax return online. Anyone who is interested in doing so can register through www.gov.im/onlineservices. 

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