High earners will have to sign up to a five-year tax agreement under new plans unveiled in this year’s Budget.
The current income tax cap for people whose income exceeds £600,000 a year is a maximum of £120,0000.
However, under the new proposals anyone who wants to take advantage of this must sign up to it for five years – at a cost of £600,000.
Treasury Minister Eddie Teare says it will give government more certainty of its income:
Two-hour delay to this evening's Liverpool sailing
The Steam Packet Company says tonight’s Manannan sailing from Liverpool will set off two hours late.
Peel lifeboat called to yacht with engine trouble
Peel lifeboat went to the aid of a yacht which suffered engine problems on Friday.
Island's new archbishop named
The Island’s Catholic church will have a new leader next month.
Is the Isle of Man 'wokest place in UK'? asks newspaper
The Daily Mail has been on the Island to investigate if we're the woke capital of the UK.
Police investigating after shotgun threat against minister
A man who suggested removing a minister “with a shotgun” will be investigated after she reported it to police.
Wildlife surveys near proposed windfarm site this week
A team of ecologists will be surveying wildlife in the south of the Island near a planned windfarm next week.
Manx Care reprimanded over former worker's data access failings
Manx Care's been rapped for dragging its heels under data protection laws.
Government announces pay deal with unions
The government says it's reached a pay deal with two public sector unions.
