Isle of Man

Treasury written question – answered on 27th March 2007.

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Photo of John Martin McDonnell John Martin McDonnell Labour, Hayes and Harlington

To ask the Chancellor of the Exchequer what plans he has to review the common purse agreement on VAT between the UK and the Isle of Man; and how much the UK paid to the Isle of Man under this agreement in each of the last 10 years for which figures are available.

Photo of Dawn Primarolo Dawn Primarolo Paymaster General (HM Treasury)

holding answer 23 March 2007

The UK-Isle of Man revenue-sharing arrangement applies to a number of indirect taxes including VAT, customs duty and most excise duties, referred to as the "common duties". The Isle of Man's share of the common duties for each of the last 10 years is contained in the Isle of Man Annual Account. This account is certified by the National Audit Office, laid before Parliament and is therefore available from the House of Commons Library.

The formula for calculating the Isle of Man's share of the common duties has recently been jointly reviewed by the UK and the Isle of Man and it has been agreed that a new formula will apply from 1 April 2007. A copy of the revised Treasury Direction, which sets out how the new revenue sharing formula will operate, will be placed in the House of Commons Library at the earliest opportunity.

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