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Changes affecting Taxation of Married Couples 11 January 2006 From April 2006, changes are planned that will affect how the Income Tax Division treat the tax affairs of married couples. The Legislation for these changes has still to be approved by Tynwald but it is envisaged that it will become effective from 6 April 2006. Under proposed legisalation, both spouses will automatically become jointly and severally liable for their joint taxation affairs for the tax years 2006/07 onwards, unless they elect to be taxed independently. A Press Release has been issued today and can be found by clicking here. A letter providing further information will be sent to all married men and women, resident on the Isle of Man, next week and can be found by clicking here. M. Couch Assessor of Income Tax 11th January 2006 More stories >>>
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