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VAT Deferment Initiative

To help support cash flow, any business in the Isle of Man, should they so need, in line with the announcement in the UK, can opt to defer their VAT liabilities for one quarter. Those who have not been affected are asked not to defer and should pay their liabilities in the normal course.

Eligibility

All VAT registered businesses in the Isle of Man.

How to access the scheme

The Isle of Man Government is allowing businesses to defer the making of VAT payments to help support businesses with their cash flows.

VAT payments due to the Treasury between 20 March and 30 June 2020 can be deferred if they are in respect of any of the following:

  • quarterly and monthly VAT returns’ payments for the periods ending in February, March and April
  • payments on account due between 20 March 2020 and 30 June 2020
  • annual accounting advance payments due between 20 March 2020 and 30 June 2020

The deferral does not cover payments for VAT MOSS or import VAT.

For more information including how to defer, please see the Scheme Guidelines.