The Scottish government delivered its 2022/23 budget on 9 December 2021. The key tax announcements include:
income tax rates will remain unchanged in 2022/23. The starter and basic rate bands will increase in line with inflation and the higher and top rate thresholds will remain frozen;
land and buildings transaction tax (LBTT) rates and bands will remain at their current levels;
the LBTT additional dwelling supplement (ADS) will continue to be charged at 4%. There will be a call for evidence on the ADS, focusing on its operation;
Scottish landfill tax standard and lower rates will increase to £98.60 per tonne and £3.15 per tonne respectively. The credit rate for the Scottish Landfill Communities Fund will remain at a maximum of 5.6%.
In a client briefing, Vishal Chopra, head of tax at KMPG in the UK, noted that: ‘Whilst strictly governing as a minority administration, the Bute House agreement (a shared policy programme with the Scottish Green Party) means that the government’s Budget is likely to pass in its current form.’
The Scottish government delivered its 2022/23 budget on 9 December 2021. The key tax announcements include:
income tax rates will remain unchanged in 2022/23. The starter and basic rate bands will increase in line with inflation and the higher and top rate thresholds will remain frozen;
land and buildings transaction tax (LBTT) rates and bands will remain at their current levels;
the LBTT additional dwelling supplement (ADS) will continue to be charged at 4%. There will be a call for evidence on the ADS, focusing on its operation;
Scottish landfill tax standard and lower rates will increase to £98.60 per tonne and £3.15 per tonne respectively. The credit rate for the Scottish Landfill Communities Fund will remain at a maximum of 5.6%.
In a client briefing, Vishal Chopra, head of tax at KMPG in the UK, noted that: ‘Whilst strictly governing as a minority administration, the Bute House agreement (a shared policy programme with the Scottish Green Party) means that the government’s Budget is likely to pass in its current form.’
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