skip to navigationskip to main content

Scotland creates new higher income tax band

Newsletter issue – February 2024

Scottish taxpayers earning more than £75,000 are set to pay a new higher rate of 45% from 2024-25. The Scottish Government has announced the change following its Budget. The change means Scotland now has six different income tax rates. The rest of the UK has three.

The 'advanced' band, as it has been called, will apply to those earning between £75,000 to £125,140. The starter, basic and intermediate threshold is set to rise with inflation, but the higher rate (43%) would still kick in at the same rate - £43,662.

Taxpayers in Scotland already faced the highest tax band in the UK at 47% for people earning more than £125,000.

The Scottish Government also announced that band will also rise by 1% to 48%. Anybody in Scotland who earns over £28,850 will, according to analysts, pay higher taxes than their counterparts elsewhere in Britain.

request-a-callback

Request a callback

Let us know and we will be happy to call you back.

get-in-touch

Get in touch

Simple way to contact us. Just fill in a simple form.

free-consultation

Free Consultation

We will offer as much advice as we can.

our-services

Our services

Find out details about what we can do for you.

Keep up to date

Why not sign up to our newsletter and keep up to date with all thats happening @KPSK Accounts & Tax Limited.

Please read our Privacy Policy before signing up