Scotland: new high earner tax band

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Those living in Scotland who earn between £75,000 and £125,140 will pay more tax than they currently do following an announcement by the Scottish government today.

The new 45% band unveiled by Finance Secretary Shona Robinson means that Scotland will now have six income tax bands.

In addition, the top rate of tax, paid by those earning more than £125,140 will also rise from 47% to 48%.

Note also, that the £43,663 and £125,140 thresholds will be frozen instead of rising with inflation.

Speaking to someone about your particular situation is key to good planning. The Newby Castleman tax team is on hand if you have any questions, or would like further information on another subject.