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Scottish Budget 2022/23

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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.’

Issue: 1558
Categories: News