Call Us :  0333 4141920  | Email: admin@nashharvey.com 


Scottish Income Tax rates announced 2020-21
11/02/2020

Public finance minister Kate Forbes delivered her first Budget statement to the Scottish Parliament on 6 February 2020. This followed the shock resignation of finance minister, Derek Mackay.

This is the first time that Scotland has held a Budget before the rest of the UK. 

It was announced as part of the Scottish Budget that there would be no change in Income Tax rates and only a small change in the lower rate Income Tax thresholds. It was also announced that the higher rate threshold would be frozen at £43,430. 

The proposed Scottish rates and bands for 2020-21 are as follows:

 

Starter rate – 19% £12,501* - £14,585
Basic rate – 20% £14,586 - £25,158
Intermediate rate – 21% £25,159 - £43,430
Higher rate – 41% £43,431 - £150,000**
Additional rate – 46% Above £150,000**

 
* Assumes person is in receipt of the Standard £12,500 UK Personal Allowance
** Personal Allowance is reduced by £1 for every £2 earned over £100,000

The figures are subject to approval by the Scottish Parliament. For the vast majority of individuals, the question of whether or not they are defined as a Scottish taxpayer is a simple one – they will either live in Scotland and thus be a Scottish taxpayer or live elsewhere in the UK and not be a Scottish taxpayer.


Maidstone Office


The Granary, Hermitage Court Hermitage Lane
Maidstone
ME16 9NT
 
 
 
This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 0333 4141920

London Office


Studio 1
305a Goldhawk Road
London Office
W12 8EU
 
 

This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 020 8746 3708

Ashford Office

 
Suite 13 Letraset Building
Wotton Lane  Ashford
Kent
TN23 6FL
 
 

This email address is being protected from spambots. You need JavaScript enabled to view it.
Tel: 0333 4141920

Membership

Nash Harvey Group LLP is a limited liability partnership registered in England
Reg No: OC376161 | VAT Number: 137 7621 01
Registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales.