Scottish Income Tax rates announced 2020-21
11/02/2020

Public finance minister Kate Forbes delivered her first Budget statement to the Scottish Parliament on 6 February 2020. This followed the shock resignation of finance minister, Derek Mackay.

This is the first time that Scotland has held a Budget before the rest of the UK. 

It was announced as part of the Scottish Budget that there would be no change in Income Tax rates and only a small change in the lower rate Income Tax thresholds. It was also announced that the higher rate threshold would be frozen at £43,430. 

The proposed Scottish rates and bands for 2020-21 are as follows:

 

Starter rate – 19% £12,501* - £14,585
Basic rate – 20% £14,586 - £25,158
Intermediate rate – 21% £25,159 - £43,430
Higher rate – 41% £43,431 - £150,000**
Additional rate – 46% Above £150,000**

 
* Assumes person is in receipt of the Standard £12,500 UK Personal Allowance
** Personal Allowance is reduced by £1 for every £2 earned over £100,000

The figures are subject to approval by the Scottish Parliament. For the vast majority of individuals, the question of whether or not they are defined as a Scottish taxpayer is a simple one – they will either live in Scotland and thus be a Scottish taxpayer or live elsewhere in the UK and not be a Scottish taxpayer.


About Us

We are qualified and experienced medic accountants and business advisors who have been in general practice for over 20 years having helped medic & dentist clients in meeting their aims of maximizing profits and both retaining and building on the rewards of their hard work.

Newsletter

With our newsletter, you automatically receive our latest news via e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Contact Us

Medic Accountants
Cromer Business & Innovation Centre
North London Business Park
Oakleigh Road South
London N11 1GN
Ph: + 44 (0) 207 183 0034
Fx: + 44 (0) 207 100 1082
Registered in Companies House England & Wales

Birmingham office
Cambrai Court,
1229 Stratford Road,
Hall Green,
Birmingham,
B28 9AA
Ph: 0121 285 4550
Fx: 0121 285 4551

Copyright © 2018 - Medic Accountants company. All rights reserved.  Website Privacy Policy