Isle of Man
Introduction
General overview & country facts, as well as labour regulations.
Employer Contributions
These are additional costs incurred by employers over and above the employee’s monthly gross salary and/or bonus.
Employee Contributions
These are costs incurred by employees that reduce their monthly gross salary and/or bonus to determine their net “take home” pay.
Employment Terms
All you need to know about salary & bonuses, working hours & overtime, probation period, notice period & severance pay, as well as all leave types.
COUNTRY PLAYBOOK
Isle of Man
Everything you need to know about payroll, benefits & hiring top talent in Isle of Man
Currency
Manx Pound (IMP)
Salary payment frequency
Weekly, Monthly
Capital
Douglas
Time Zone
GMT + 1:00
Official Languages
Manx, English
Is English spoken?
Yes
Quick Links
Introduction
General Overview & Economic Facts
- The Isle of Man, also known as Ellan Vannin, is a self-governing Crown Dependency, located in the Irish Sea between Great Britain and Ireland. The government of the United Kingdom is responsible for its military defence
- It has a population of about 84,069 and covers an area of approximately 573 km2 (221 sq2)
- The economy of the Isle of Man is a low-tax economy with insurance, online gambling operators and developers, information and communications technology and offshore banking forming key sectors of the island’s economy
- The Isle of Man offers residents an excellent quality of life, with low unemployment, a temperate climate, a low crime rate and a favourable tax regime
Why Employ In Isle of Man?
- The main exports from Isle of Man include tweeds, herring, processed shellfish, beef, lamb
- 11.02 % of the population is between the ages of 15 and 24 years, with 37.8% of the population being between the ages of 25 and 54. Isle of Man has a fairly mature population making it a favourable country to hire more experienced employees
Overview Of The Labour Law
- The main source of employment law in the Isle of Man is the legislation set out within various Acts of Tynwald as well as Regulations and Orders
- The labour laws refer to regulations around paid leave, minimum wage, working conditions and termination of employment
Fun Country Facts
- The Isle of Man is the motorcycle racing capital of the world
- The Bee Gees are from the Isle of Man
- The Isle of Ma has the longest running government in history
Why Use Playroll Services For Isle of Man?
- Employing in Isle of Man requires companies to have their own legal entity in the country as well as to manage payroll, employee benefits, taxes and legal compliance. This can get quite complicated, especially with the complexity of employment laws in Isle of Man.
- With Playroll’s Employer of Record services, your team will be employed by our established legal entities in each country
- We will take care of payroll, employee benefits, taxes, legal compliance and provide ongoing employee support, so that you can focus on growing your team
Employer Contributions
These are additional costs incurred by employers over and above the employee’s monthly gross salary and/or bonus.
National Insurance
IMP 0.00 – IMP 598.00
0.00%
IMP 598.01 – IMP 3,567.00
12.80%
Employee Contributions
These are costs incurred by employees that reduce their monthly gross salary and/or bonus to determine their net “take home” pay.
Social Security
IMP 0.00 – IMP 598.00
0.00%
IMP 598.01 – IMP 3,567.00
11.00%
IMP 3,567.01 >
1.00%
General Income Tax
Single
IMP 0.00 – IMP 6,500.00
10.00%
IMP 6,500.00 >
20.00%
Married
IMP 0.00 – IMP 13,000.00
10.00%
IMP 13,000.00 >
20.00%
Employment Terms
General
Minimum Wage
- Employees older than 18 years- IMP 10.75 per hour
- Employees under 18 years- IMP 8.05
Working Hours
- Maximum of 8 hours per day and 40 hours per week
- Minimum 20-minute meal interval
- Typical working hours are 08:00 to 18:00, Monday to Friday
Overtime
- Employees may work a maximum of 5 overtime hours per day
Notice Period
Notice by employer:
- Employed between 0 and 2 years- 1 week
- Employed between 2 and 12 years- 1 week for every year of employment
- Employed for 12 or more years- 12 weeks
Notice by employee:
- Employed between 0 and 2 years- 1 week
- Employed between 2 and 12 years- 1 week for every year of employment
- Employed for 12 or more years- 4 weeks
Severance Pay
- 1 weeks’ pay
Probation Period
- There is no statutory probation period
- Employees can expect a probation period of 3 to 6 months
Holiday Pay
Bonus
- There is a mandatory Winter Bonus of £350 payable as a lump sum
Public Holidays
Public holidays 2023
- January 1st– New Year’s Day
- April 7th – Good Friday
- April 10th – Easter Monday
- May 1st – Early May Bank Holiday
- May 8th – King Charles III Coronation
- May 29th – Spring Bank Holiday
- June 9th – T.T. Bank Holiday
- July 5th –Tynwald Day
- August 28th – Summer Bank Holiday
- December 25th – Christmas Day
- December 26th – Boxing Day
Leave
Paid Leave / Vacation Days
- Paid leave
- Paid by employer
- 20 days per year
Sick Leave
- Paid leave
- Partially paid by employer
- 26 weeks
Long Term Sick Leave
Maternity Leave
- Paid leave
- Paid by Social Security
- Minimum of 26 weeks, maximum of 52 weeks
Paternity Leave
- Unpaid leave
- 1 – 2 weeks
Parental Leave
- Unpaid leave
- 18 weeks
Adoption Leave
- Paid leave
- Paid by Social Security
- 26 weeks
Bereavement Leave
Start hiring in Isle of Man today!