New figures released under the Freedom of Information Act have revealed that the growing share of new tax-paying residents to the island are aged 60 and over.
The data, provided by the Treasury’s Income Tax Division in response to a request, covers the five most recent complete tax years from 2020/21 to 2024/25.
According to the figures, the total number of individuals newly registered as Manx tax-paying residents increased sharply after 2020/21 and has since remained at high levels:
- 2020/21: 1,285;
- 2021/22: 1,651;
- 2022/23: 2,072;
- 2023/24: 2,026;;
- 2024/25: 2,023.
For the purposes of the data, “newly registered” includes both people moving to the island for the first time and former residents returning after a period away.
The figures show that registrations rose by more than 60% between 2020/21 and 2022/23, before stabilising at just over 2,000 per year.
Growing Proportion of Over-60s
Of particular note is the number of new and returning residents aged 60 or over at the time they became tax-paying residents.
Across the five-year period, the totals for those aged 60+ were:
- 2020/21: 194
- 2021/22: 233
- 2022/23: 251
- 2023/24: 209
- 2024/25: 263
The highest figure was recorded in 2024/25, with 263 over-60s registering, the largest annual total in the five-year period.
An Ageing Profile
While the island has seen strong overall inward movement since 2021/22, the data suggests that older residents form a consistent and, in recent years, growing share of new arrivals.
In 2020/21, over-60s accounted for roughly 15% of all newly registered residents (194 out of 1,285).
By 2024/25, that figure had edged up to around 13% (263 out of 2,023), with the absolute number reaching its highest point.
The figures do not provide information on employment status, income levels or reasons for relocation, and no personal or identifiable data was released.