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Scotland Legislates To Set Devolved Income Tax Policies

by Jason Gorringe, Tax-News.com, London

30 November 2016


Scotland has tabled legislation that would give it responsibility over elements of individual income tax policy, under the negotiated agreement on tax devolution with the UK Government.

The legislation would give the Scottish Parliament the power to set the rates and thresholds for income tax, excluding the personal allowance, from 2017/18. However, Scotland has decided so far to keep individual income tax rates in line with those in the UK.

Scotland's Finance Secretary, Derek Mackay, said: "The new powers will allow us to design an approach to taxation which will suit Scotland's needs, balancing the need to invest with the recognition that many households are facing difficult economic challenges."

He said the nation's income tax plans for next year – due to be announced in the Budget on December 15 – would aim to "to protect lower income taxpayers and generate extra revenue for us to invest in public services."

TAGS: individuals | Finance | tax | budget | United Kingdom | legislation | tax rates | regulation | individual income tax | services | Scotland

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