This locomotive was another one-off order from Beyer, Peacock & Co., Ltd., in 1894 and was named after a character in a novel by Sir Walter Scott, Peveril Of The Peak, from which No.6 Peveril was also named.  The locomotive received its first boiler change in 1908 when it was fitted with the 1907 boiler originally fitted to No.5 Mona, and again in 1915 when the 1907 boiler from No.7 Tynwald was fitted.  Two brand new boilers directly from Beyer, Peacock & Co., were fitted in 1919 and 1936, the latter seeing it remain in traffic until the 1968 season by which time the locomotive was found to be in poor order and withdrawn from traffic and stored.   Based for a large part of her career on the north line with its steadier inclines and lighter trains, No.8 was a regular performer until the latter days of Railway Company operations.  It had the dubious honour of being the only locomotive to be steamed in 1966, the year the railway was completely closed, to shunt rolling stock at St. John's to allow the site to be used for car parking on Tynwald Day, 5th July as the rare photograph below shows.

It was purchased by the now-defunct Isle of Man Railway Society in 1978 with a view to complete restoration but in the event it would be ten years before the boiler was lifted from the frames and sent to the Severn Valley Railway for major rebuild.  This long-term project faltered as relationships between the owners and railway management broke down meaning that the project did not reach fruition.  However, the owners offered the finished boiler for No.1 Sutherland to return to steam for the Steam 125 celebrations in 1998, an agreement being reached whereby it could be used for  three years in before being reunited with No.8.  This ensured that the locomotive returned to traffic in 2001 until early summer 2008.  Being the sole representative of the smaller engines it was often to be seen on lighter trains, specials and acting as station pilot. There followed a spell when it was not used owing to a dispute with the owners, but it ran again in May of 2010 on non-passenger duties as part of the annual Rush Hour event.  The locomotive returned to railway ownership in April 2012 and once again returned to the service fleet.  It made a return to the site of Peel Station for display to commemorate the 140th anniversary of the Peel line on 1st July 2013, placed on a short length of display track next to the water tower.  Following the close of the shortened 2020 season the boiler certificate expired and the locomotive was withdrawn.  In May 2022 it travelled off-island to attend the Beyer Bash at the Welshpool & Llanfair Light Railway.  No.8 is presently stored in the rear of the running shed at Douglas Station awaiting its turn for restoration.