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Income tax in Scotland is a tax of personal income gained through employment. This is a tax controlled by the Scottish Parliament, [clarification needed] and collected by the UK government agency HM Revenue & Customs. Since 2017, the Scottish Parliament has had the ability to set income tax rates and bands, apart from the personal allowance. [1]
📣 @ShonaRobison: “While the UK Gov't froze all income tax thresholds, in Scotland, the basic and intermediate rate thresholds will increase this year by 3.5%.
The Damages (Review of Rate of Return) (Scotland) Regulations 2024 (S.S.I. 2024 No. 163) [163] The Trusts and Succession (Scotland) Act 2024 (Commencement No. 1) Regulations 2024 (S.S.I. 2024 No. 164 (C. 14)) [164] The Sea Fisheries (Remote Electronic Monitoring and Regulation of Scallop Fishing) (Scotland) Regulations 2024 (S.S.I. 2024 No. 165 ...
There are no personal tax-free allowances; however, there are personal and labor tax credits that reduce the amount of income tax paid. Prior to 2020, the income tax was assessed within four brackets, which have been simplified to just three (effectively two) as of 2020. As of 2023, the income tax rates are: [79]
The Scottish government is reportedly considering introducing a new tax band to shore up its budget.
An Act of the Scottish Parliament to make provision, for financial year 2024/25, for the use of resources by the Scottish Administration and certain bodies whose expenditure is payable out of the Scottish Consolidated Fund, for the maximum amounts of borrowing by certain statutory bodies and for authorising the payment of sums out of the Fund; to make provision, for financial year 2025/26, for ...
The National Assistance (Sums for Personal Requirements) (Scotland) Regulations 2020 (revoked) (S.S.I 2020 No. 56) The A828 Trunk Road (Ledaig) (Temporary Prohibition on Use of Road and Temporary 30 mph Speed Restriction) Order 2020 (S.S.I 2020 No. 57) The Fuel Poverty (Enhanced Heating) (Scotland) Regulations 2020 (S.S.I 2020 No. 58)
19 December – Finance Secretary Shona Robison presents the Scottish Government's budget for 2024–25. Measures announced include a new 45% tax rate for people earning between £75,000 and £125,140, and a rise in the top rate of tax, paid by those earning over £125,000, from 47% to 48%. The £43,663 tax threshold is also frozen for the year ...