The Scottish government has updated its draft Budget proposals, lowering the income tax higher rate threshold to £43,430 (announced originally at £44,273). Earnings above this figure will attract income tax at 41% in Scotland from 6 April 2018.
Scottish Finance Secretary, Derek Mackay, confirmed the change from the figures announced in December, following the latest round of negotiations between the main political parties in Scotland on the draft Budget. The new threshold represents a 1% increase on the level for 2017/18.
The change has been made ‘to remove an anomaly that meant some higher rate tax payers saw their bills fall while others on slightly lower incomes saw a rise, due in part to changes in the personal allowance’, Mackay explained.
The Scottish government has updated its draft Budget proposals, lowering the income tax higher rate threshold to £43,430 (announced originally at £44,273). Earnings above this figure will attract income tax at 41% in Scotland from 6 April 2018.
Scottish Finance Secretary, Derek Mackay, confirmed the change from the figures announced in December, following the latest round of negotiations between the main political parties in Scotland on the draft Budget. The new threshold represents a 1% increase on the level for 2017/18.
The change has been made ‘to remove an anomaly that meant some higher rate tax payers saw their bills fall while others on slightly lower incomes saw a rise, due in part to changes in the personal allowance’, Mackay explained.
