Isle of Man Payroll Regulations - 2014 Book Course

Who is this course aimed at?

This is an essential training course for anyone who is responsible for payroll in the Isle of Man.

Most people working in payroll have no structured training and they have to operate on the basis of what they have “picked up” over the years. The material covered is presented in a jargon free, easy to understand format and is immediately practical to one’s work as a payroll professional.

What will I learn?

This one day course deals with all of the issues, which are important to anyone either working in, or responsible for, the payroll function. The course covers all of the essential rules in the operation of Income Tax Instalment Payments (ITIP) and national insurance contributions. It outlines the rights and obligations of both employers and employees. It uses clear examples to illustrate many of the points raised.

This invaluable course, which is extremely practical, has been highly acclaimed by payroll personnel working in Isle of Man.

Whether you are new to Isle of Man payroll, or have years of experience, you will not find a more comprehensive or useful course.

At the end of this course delegates will have received a detailed overview of the complex and advanced Isle of Man legislation, they will gain the knowledge and confidence to complete complicated processes internally.

Course content

• Understanding the ITIP system
• Identify what income is taxable and exempt
• Calculating tax on standard and nonstandard payments
• Basic and higher rates tax bands and payments to the collector
• Tax allowances, codes, thresholds and tables
• Emergency processes for residences and non-residence
• Process of leavers and payments after leavers
• National insurance, highlighting the key differences
• Year end and in year forms and reporting requirements
• Recovery and payments of over and under deducted tax
• National minimum wage
• Termination payments
• Statutory and occupational sickness and maternity pay/rights
• Benefits in kind
• Penalties and fines for incorrect processes and late payments

Course aims

On completion, delegates should be able to:

• Identify key differences from the UK payroll systems
• Calculate gross pay
• Calculate tax manually
• Calculate NIC manually
• Calculate benefits in kind
• Check sequence of calculations
• Check accuracy of computer output
• Complete and process forms accurately

The CIPP offer discounts for registered charities on all 1 and 2 day short courses (excluding Irish and International short courses) and 1 day conferences.