Government writes off £5.2m in debt in five years

Figures released as part of Tynwald Written Answer

The Isle of Man Government has written off more than £5.2million of debt over the past five years.

The figures, dating back to the 2020-21 financial year, have been published in response to a Tynwald Question for Written Answer.

Divided up by each department, agency, and board, it represents the amounts written off and does not include any provisions against receivable balances.

The highest proportion, £1.5million, was written off via Corporate Income Tax.

Of the various departments, Infrastructure has written off the most amount of debt - just shy of £950,000.

That sum includes some specific irrecoverable debts due to companies entering administration or liquidation where the recovery of balances was assessed as unlikely.

You can find full details of the written off debts HERE.