CIPP comment With such a short consultation period we are unable to fully consult members and the wider payroll profession. If any interested parties have comments, we will be more than happy to collate and pass on to HMRC. Please email us at policy by 10am on 21 February, using PSAs in the subject box.
Back to Contents
Scottish income tax rates and bands confirmed for 2018-19 22 February 2018
The rates and thresholds proposed by the Scottish Government have been approved by the Scottish Parliament and will take effect from 6 April 2018.
2018-19
Scottish rate
Rest of UK rate
19% (if you earn between £11,850 and £13,850 20% (if you earn between £13,851 and £24,000) 21% (if you earn between £24,001 and £43,430) 41% (if you earn between £43,431 and £150,000)
Starter rate
N/A
20% (if you earn between £11,851 and £46,350)
Basic rate
Intermediate rate
N/A
40% (if you earn between £46,351 and £150,000 45% (if you earn over £150,000**)
Higher rate
46% (if you earn over £150,000)
Top rate
These figures assume individuals are in receipt of the standard UK personal allowance. Those earning more than £150,000 will see their personal allowance reduced by £1 for every £2 earned over £100,000.
Pension schemes relief at source Following confirmation of the rates and bands on 20 February 2018, HMRC has published a new Pension schemes relief at source for Scottish Income Tax newsletter which providers information to help clarify how the mechanisms for providing pension tax relief will operate in respect of Scottish taxpayers. Rates and thresholds for employers 2018 to 2019 The rates and thresholds on GOV.UK have also been updated to reflect the approved proposals to Scottish income tax.
Back to Contents
Save As You Earn (SAYE) savings holiday extension delayed 13 March 2018
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
Page 404 of 598
Made with FlippingBook - Online magazine maker