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The Scottish Budget aims to provide ‘certainty and stability’ for taxpayers with no changes other than for inflation to income tax planned for 2021-22.
In the Budget statement which took place on 28 January Scottish cabinet secretary for finance Kate Forbes set out plans to:
- increase the starter band basic band and higher rate threshold of income tax by inflation;
- freeze the top rate threshold of income tax in cash terms at £150 000;
- return the ceiling of the nil rate band for residential land and buildings transaction tax (LBTT) to £145 000 from 1 April as planned but continue first-time buyer relief which raises the nil rate band to £175 000; and
- increase the standard rate of Scottish landfill tax to £96.70 a tonne and the lower rate to £3.10 a tonne to ensure consistency with planned landfill tax charges in the rest...
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