The Scottish Budget 2023/24 introduced significant tax increases for taxpayers in Scotland. The Scottish top rate and the Scottish higher rate of income tax were both increased by 1%, to 47% and 42% respectively and the threshold for the top rate was reduced from £150,000 to £125,140 in line with UK changes. The land and buildings transaction tax additional dwelling supplement (ADS) was increased from 4% to 6% with effect from 16 December 2022. Work has now begun in earnest on the introduction of the Scottish aggregates levy, but there has been no movement in relation to air departure tax or VAT assignment.
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The Scottish Budget 2023/24 introduced significant tax increases for taxpayers in Scotland. The Scottish top rate and the Scottish higher rate of income tax were both increased by 1%, to 47% and 42% respectively and the threshold for the top rate was reduced from £150,000 to £125,140 in line with UK changes. The land and buildings transaction tax additional dwelling supplement (ADS) was increased from 4% to 6% with effect from 16 December 2022. Work has now begun in earnest on the introduction of the Scottish aggregates levy, but there has been no movement in relation to air departure tax or VAT assignment.
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.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")