News: May 2013
SCOTTISH INCOME TAX IS ON ITS WAY
If you are resident in Scotland we will be ready to advise on this potential new burden. The Scottish rate of income tax will apply probably from April 2016. It will be administered by HMRC as part of the UK-wide tax system, but it will be the Scottish parliament that will decided the rate.
The Scottish rate will then be added to each of the UK main rate bands, after 10 pence in the £ has been deducted from each rate. No prizes then for guessing the likely Scottish rate!
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