Scottish Proposals For Income Tax From April 2018 Are Adjusted

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June 25th 2018
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Scottish Proposals For Income Tax From April 2018 Are Adjusted

Derek Mackay, Finance Secretary, adjusts the higher rate threshold from the initial proposals.

Updated Feb 20th 2018 - The revised rates proposed for Scotland were today confirmed and will apply from April 6th 2018. We still await the proposals on how pension reliefs will be handled with the new five bands and rates of tax.

Due to extra spending requirements added to the Scottish Budget proposals last month, the Scottish Finance Secretary, Derek Mackay, has made adjustments to his initial income tax rate change proposals.

Income tax changes for Scotland from April 2018 are currently slated to be drastically different to the rest of the UK. Five rate bands are now applicable for non-savings income for Scotland resident taxpayers.

To accommodate greater budget requests the higher-rate threshold will now be lowered from the £32,423 (After tax-free allowances) to £31,580.

The change means an even greater difference between the tax paid for rest of UK and Scottish taxpayers.

Once again, these rates may change - the final rates must be put into law before April 5th 2018 but, for the meantime, we have updated our tables and our calculators to reflect the changes from today.

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