Tax Profressional usually responds in minutes

Our tax advisers are all verified

Unlimited follow-up questions

  • Sign in
  • ARTICLE - Scotland

    Scottish Budget: Brigadoon or bust?

    20 Dec

    Scottish Budget: Introduction

    The Scottish Government Budget 2024/25 was recently unveiled by Shona Robison. In this short article, we summarise some of the changes that are, to be honest, pretty bold

    The "Advanced" Tax Rate

    In a move that was more foreshadowed than a plot twist in a detective novel, a new Scottish income tax rate has emerged. It targets income between £75,001 and £125,140 at a 45% rate. Named "Advanced" – because, just like in school, "Advanced" here means "Higher."

    Top Rate Takes a Tiny Jump

    Catching us slightly off guard, the Scottish Top rate of tax has nudged up a notch to 48%. It's edging ever closer to the half-century mark – that's 50% for those who skipped math class. Reminder: these rates are exclusively for Scottish taxpayers, focusing on income from jobs, self-employment, or property.

    A Sextet of Tax Rates

    Scotland says "why stop at three?" and introduces a sixth income tax rate, making it a half-dozen compared to the rest of the UK's trio. Scottish taxpayers, brace yourselves for a marginal rate of 67.5% on incomes between £100,000 and £125,140.

    Inflation-Proofing the Starter and Basic Bands

    Inflation's not just for balloon animals. The Starter and Scottish Basic rate bands are inflating by 6.7%. The Starter band now encompasses income up to £14,876, and the Basic band stretches from £14,877 to £26,561.

    Council Tax: Freeze Frame!

    The Council Tax freeze is more solid than a Scotsman's resolve. It's not only confirmed but also fully funded, giving councils a financial boost equivalent to a 5% tax increase.

    Non-Domestic Rates: Frozen in Time

    The Basic Property Rate (poundage) is frozen faster at 49.8p per £1 of rateable value, mirroring the UK Government's recent move.

    Hospitality Sector: A Mixed Bag

    Despite numerous pleas, the wider hospitality sector won't see an extension in current reliefs. However, island-based hospitality gets a 100% break, capped at £110,000. The Scottish Government is also cooking up some targeted solutions and a new valuation method for the sector.

    LBTT and ADS: No News is Good News

    In the Land and Buildings Transaction Tax (LBTT) and Additional Dwelling Supplement (ADS) world, it's status quo for both residential and non-residential dealings.

    Landfill Tax: Up and Up We Go

    In sync with UK landfill tax increases, from April 2024, the Scottish Landfill Tax will see the standard rate climb to £103.70/tonne and the lower rate to £3.30/tonne. Talk about trashy tax rates going up!

    A New Scottish Aggregates Tax on the Horizon

    The Scottish Aggregates Tax (SAT) is set to make its grand debut in April 2026, replacing the UK-wide aggregates levy. This new kid on the block was introduced to the Scottish Parliament back in November 2023.

    Scottish Budget - Final thoughts

    If you have any queries about this article on the Scottish Budget, then please do get in touch

    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus ut semper risus. Fusce ac pharetra sem. Praesent vitae eros a quam fermentum dignissim.

    MR BLAKEFIELD. REGAL CAPITAL. FLORIDA.

    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus ut semper risus. Fusce ac pharetra sem. Praesent vitae eros a quam fermentum dignissim.

    MR BLAKEFIELD. REGAL CAPITAL. FLORIDA.

    Lorem ipsum dolor sit amet, consectetur adipiscing elit. Vivamus ut semper risus. Fusce ac pharetra sem. Praesent vitae eros a quam fermentum dignissim.

    MR BLAKEFIELD. REGAL CAPITAL. FLORIDA.

    1/3

    Contact us

    If you’re having any problems with your membership, account, or just generally loving Tax Natives. Drop us a line here and we’ll get back to you.

    Contact

    We collect personal information when you enquire about our services. We will use this information to provide the services requested, maintain records and, if you agree below, to send you marketing information. We will not share your infromation for marketing purposes with any other companies. For more information explaining how we use your information please see our Privacy Policy(Required)
    This field is for validation purposes and should be left unchanged.