NO TAX CHANGES ANNOUNCED IN SPRING STATEMENT

Despite the continuing uncertainty surrounding Brexit, the Chancellor delivered his Spring Statement on 13th March. The purpose of this statement is to update the House of Commons and the country on the state of the economy; it is not intended to include any major tax announcements, and none were made by the Chancellor.   As[…]

SCOTTISH INCOME TAX. YOU ASK, WE ANSWER

Who is liable to pay Scottish Income Tax? A Scottish taxpayer is anyone who is a UK taxpayer and has their main place of residence in Scotland. If you have places of residence both in Scotland and elsewhere in the UK, a variety of factors will be considered in judging where your main residence is.[…]

SCOTTISH TAX GAP TO WIDEN FOR HIGHER EARNERS

The tax gap between Scotland and the rest of the UK continues to widen. Following the Finance Minister’s Scottish budget in December, the Higher Rate Tax threshold in Scotland is to remain frozen this year whilst this threshold will rise considerably for taxpayers in the rest of the UK   This means that from 6[…]

Scottish Tax Rates 2018/19

On 20 February 2018 the Scottish Parliament passed its Budget Bill for 2018/19 which saw the introduction of five tax bands for non-savings income. This includes earned income and benefits, profits from self-employment, rental profits and pension income (including State Pension). The Scottish tax rates do not apply to dividend or savings income as these[…]

Are you losing State Pension?

Do you know that your Child Benefit claim affects your State Pension entitlement? Child benefit used to be paid automatically to all parents of children aged 16 or under no matter the level of the parent’s income. This changed in January 2013 when it became means tested.   If both parents each earn less than[…]