Cookies are small text files that are stored on your computer when you visit a website. They are mainly used as a way of improving the website functionalities or to provide more advanced statistical data.
New Scottish tax sparks petition to recall powers
Newsletter issue – June 2024
If you’re a Scottish resident, you’re no doubt aware that from April a whole new band of tax has taken effect.
The new Advanced Income Tax band , coming in at a 45% rate , applies on annual income between £75,000 and £125,140. An additional 1p has also been added to the Top Rate of tax . It’s gone up from 47% to 48% for income over £125,140 .
The move, unsurprisingly, is not universally popular and it has triggered a new petition on the Government website to strip the Scottish Parliament of its powers to change income tax rates. Nearly 13,000 have signed so far.
Tax-altering powers were given to the Scottish Parliament as part of the Scotland Act 2012. But the campaign calls for change, which would bring tax in line with the rest of the UK and set by the British Parliament in Westminster.
Of course, with the General Election for the British Parliament in Westminster now set for 4 July, tax legislation is even more in the spotlight. Though elections for the Scottish Parliament are not happening at the same time, with the next set to take place in 2026.
The petition has already garnered enough support to mean it will receive an official government response, and if it reaches 100,000 would be considered for debate in the House of Commons.
If you’re a Scottish resident or business owner or you’re looking to relocate to Scotland and need help to understand the tax implications, do drop us a line.
What our clients say about us...
"Paul has provided accountancy services to my company for 2 years now. I can recommend Paul very highly; his skills as an accountant are highly detailed and professional and he is always available to provide advice. One aspect of the way Paul works that I greatly appreciate is a preference to meet face to face when there is a detailed conversation to be had. I personally find this more productive and is a benefit of working with a small accountancy firm that you wouldn't get with the large faceless providers."
ALISTAIR FAIRWEATHER - PROGRAMME & PROJECT MANAGER, DELIVERING/RESCUING I.T. 7 BUSINESS CHANGE WITH BUDGETS UPTO £50M INC SUPPIER MANAGEMENT
"I couldn't ask for more from Paul as an Accountant. Paul has been accountant to Work Relief Charity Recruitment for just over a year now and is proving an invaluable asset. Accurate, knowledgeable, flexible with an emphasis on service delivery, I would recommend Paul's services to any organisation looking for an accounts professional."
Neil Price - Managing Director at Work Relief Charity Recruitment
"Paul was a referral from a family member when I started my business 2 years ago. As this was the first time I had ever run my own company I was totally clueless over the financial side of matters and was worried that I may have made mistakes in any of my accounting. I needn't have worried as after enaging Paul for a set monthly fee he was always there on the end of the phone for all sorts of questions I had and no matter how trivial they were Paul gave me all the information I required and more and did an excellent and painless job at the end of my first year! Couldn't ask for any better to be honest. Just two words - hire him!!!"
Lee Westrap MBCS - Director - Bulldog IT Services
Please complete our form
to request a callback
Competitive fixed quotes
for agreed services
Increase your profit and
reduce tax liabilities
Expert advice for your
business size
