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Scottish rate of income tax: what you need to know

After the Scottish government used its devolved tax powers for the first time in its recent Budget to change tax bands and create a new mid earner rate of 21%, Elaine McInroy, partner at Saffrey Champness, explains the impact of the changes on income tax rates for Scottish taxpayers from April 2018

The recent Scottish Budget, and subsequent changes agreed to get the support of the Green Party, saw the Scottish government distance their taxpayers from the rest of the UK with a significant change in the tax rates and bands that will apply to Scottish taxpayers.  

The Scottish government has had the facility to flex the tax rate for a few years now with the Scottish Rate of Income Tax (SRIT) commencing on 6 April 2016 for individuals, though it is worth noting that companies and trusts are unaffected.

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