Unexpected tax take boost for government 

Up £40.8 million against budget

Central Government's summary management accounts for 2025/26 have produced an unexpected bonus for Treasury.

A significantly higher than expected tax take means it’s up £40.8 million against the budget.

This was driven largely by income tax receipts significantly exceeding budget across all areas, including individual tax, company tax and ITIP/subcontractors.

However employee and other operating costs were higher than budget.

A number of government departments used internal fund claims to supplement revenue spending enabling overall budget targets to be met.

The Department of Health and Social Care required a £19 million Tynwald supplementary vote.

The Department of Education, Sport and Culture ended the year £1.9 million under budget.

You can view the full accounts HERE.