RATES                                          1999/2000      1998/1999

Companies (15% on first £100,000 of profit)      15%/20%            20%
Non-residents                                        20%            20%

Individuals:
   Standard rate band - single                   £9,900          £9,500
                      - married                 £19,800         £19,000
   Standard rate                                    15%             15%
   Higher rate                                      20%             20%

ALLOWANCES

Single person                                    £7,350          £7,070
Married couple (transferable between spouses)   £14,700         £14,140
Blind person's relief/
Severely disabled person's allowance             £2,020          £1,940
Single parent (in receipt of one parent benefit) £5,035          £4,840

FEES

Exempt Companies                                   £400            £400
International Business Companies                 £1,200          £1,200
Exempt Insurance Companies                       £2,500          £2,500
Non-resident Company Duty (from 1.6.99)            £775            £750

NATIONAL INSURANCE CONTRIBUTIONS

Year ended 5 April 2000

Class 1

Weekly Pay        Employees' contributions           Employers' contributions

From        To
0        66.00    Nil                                Nil
66.01    83.00    10% on excess over £66             Nil
83.01   500.00    10% on excess over £66             12.2% on excess over £83
500.01       +    No further contributions payable   12.2% on excess over £83

Class 2

Weekly rate: £6.55 (small earnings exemption: £3,770)

Class 3

Weekly rate: £6.45

Class 4

6% on profits between £7,530 and £26,000.

NOTES

1. Reduced rates of Class 1 contributions, for both employers and employees, are applicable in respect of contracted out employees on earnings between £66 and £500 per week in 1999/200.

2. The Class 4 (earnings related) contributions are allowable as a deduction from the individual's total income for income tax purposes.

For any further information on the Budget or any matters relating to taxation please telephone Bruce Taylor or Nicholas Williamson on 672332.

This note has been produced as a briefing paper on the 1999 Manx Budget. It is written in general terms and should not therefore be relied upon in isolation. Professional advice should always be sought in making decisions in respect of taxation matters.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

To receive further information please contact:

Deloitte & Touche
PO Box 250
Grosvenor House
66-67 Athol Street
Douglas
Isle of Man IM99 IXJ

Tel No:  +44 (0) 1624 672332
Fax No:  +44 (0) 1624 672334
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