The Isle of Man is to give new residents and people moving back to the island a sizeable tax break.
The scheme will be open to anyone who has not been tax resident on the Isle of Man for the immediate last five tax years, and who takes up both residence and full-time, permanent employment with a gross salary of £21,000 or more, on or after 6 April 2019.
Eligible residents will apply for a refund on the National Insurance contributions for their first year of living or returning to the Isle of Man, with refunds capped at £4,000.
The scheme means anyone earning £30,000 a year will keep £27,450 in their first year of living in the island.
The Isle of Man treasury minister, Alf Cannan, made the announcement in the island's latest budget, aimed at boosting take home pay for new and returning residents.
Laurence Skelly, Isle of Man minister for enterprise, said: "This scheme enhances the already compelling reasons to live and work in the Isle of Man.
"We have excellent quality of life, opportunities for career progression and average salaries which are higher than the UK.
"We believe this will be a fantastic incentive for Manx nationals to return home, as well as attracting new workers to our shores."
