The Chartered Institute of Payroll Professionals
News On Line
Devolved Affairs
Scotland
Scottish Budget 2024-25 Published: 19 December 2023 Emailed: 20 December 2023
The Scottish Government has today (19 December 2023) announced the measures and changes being brought in the Scottish Budget. Within are some shocking changes to the Scottish rates of income tax and associated bands.
The starter, intermediate and higher rates will remain the same as last year. The top rate will be increased by 1p to 48% to those earning over £125,140 per year.
The band are where we have some major changes. We will see a new band, the advanced rate, applying to those earning from £62,430 (£75,000 when factoring the personal allowance) up to 125,140 in taxable income per year. Additionally, the starter rate and intermediate rate will be increased by inflationary figures to apply from £14,876 and £26,561 respectively. The starting point of the higher and top bands will remain the same.
Therefore, the new rates will be as shown below:
Back to contents
cipp.org.uk
Page 53 of 314
Made with FlippingBook - Online magazine maker