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Income tax in Scotland is a tax of personal income gained through employment. This is a tax controlled by the Scottish Parliament, [clarification needed] and collected by the UK government agency HM Revenue & Customs. Since 2017, the Scottish Parliament has had the ability to set income tax rates and bands, apart from the personal allowance. [1]
The creation of a devolved Scottish parliament in 1999 was accompanied by a limited transfer of taxation powers: the Scotland Act 1998 transferred the power to legislate for local taxation and also the power to vary income tax by plus or minus 3 pence in the pound. Most taxation powers in Scotland following the creation of the parliament ...
[1] [2] The Revenue Scotland and Tax Powers Act (RSTPA) 2014, which established the legal basis for the operation of Revenue Scotland, was passed by the Scottish Parliament in August 2014. [3] [4] Revenue Scotland was founded on 1 January 2015, becoming the first Scotland-wide tax collection system in more than 300 years. [5] [6]
2024 Scottish government crisis: Patrick Harvie says he will resign as co-leader of the Scottish Greens if the party votes to end its coalition agreement with the SNP. [116] 25 April – 2024 Scottish government crisis: The Scottish National Party's coalition in the Scottish government with the Scottish Greens collapses as the SNP withdraws ...
In 2004, the Scottish Socialist Party launched a "Scrap the Council Tax" campaign, boosted by a poll suggesting 77% of Scots supported the abolition of the tax. [1] A bill proposing a progressive system of taxation based on a household's income was presented in 2005, but was defeated with 12 MSPs in favour, 94 against, and 6 abstaining. [2]
In 2024, federal income tax rates remain at 10%, 12%, 22%, 24%, 32%, 35%, and 37%. While these rates stay the same for 2025, the income thresholds for each bracket will adjust for inflation.
The Scottish Government budget is an annual Act of the Scottish Parliament, giving statutory authority to the Scottish Government for its revenue and expenditure plans. For the financial year 2024/25 the budget was approximately £ 59.7 billion. [ 1 ]
The Act gave extra powers to the Scottish Parliament, [2] most notably: The ability to raise or lower income tax by up to 10p in the pound. Any change is applied across all tax bands; [3] Devolving stamp duty and landfill tax to Scotland to replace them with new taxes specific to Scotland; The Scottish Government to have borrowing powers, up to ...