The Isle of Man Treasury Income Tax Division has issued Guidance Note (GN) 40 - Expenses and Benefits in Kind Guide 2021, dated 5 May 2021.
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Introduction
This guide is designed to provide employers and tax practitioners with information about how to comply with their obligation to ensure that expenses and benefits in kind are correctly reported and charged to income tax and National Insurance, as appropriate.
It provides information regarding:
- what should be reported and when
- exp…