The Scottish Parliament voted on 20 February to approve the new five-band income tax system for 2018/19. This will give:
a starter rate of 19% on income up to £2 000;
Scottish basic rate of 20% on income above £2 000 up to £12 150;
an intermediate rate of 21% on income above £12 150 up to £31 580;
a higher rate of 41% on income above £31 580 up to £150 000; and
a top rate of 46% on income above £150 000.
MSPs passed the proposals by 67 votes to 50. The remaining measures in the Budget (Scotland) (No. 2) Bill will go on to their stage 3 debate on 21 February.
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The Scottish Parliament voted on 20 February to approve the new five-band income tax system for 2018/19. This will give:
a starter rate of 19% on income up to £2 000;
Scottish basic rate of 20% on income above £2 000 up to £12 150;
an intermediate rate of 21% on income above £12 150 up to £31 580;
a higher rate of 41% on income above £31 580 up to £150 000; and
a top rate of 46% on income above £150 000.
MSPs passed the proposals by 67 votes to 50. The remaining measures in the Budget (Scotland) (No. 2) Bill will go on to their stage 3 debate on 21 February.
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
