Obviously we had a Scottish Budget last week, somewhat overshadowed by events, and lacking bite given the limited scope the Scottish government has to change taxes. That said individuals will see small changes in the income tax bands, although the rate at which high rate tax is levied remains at £43,430, (not the £50,000 mentioned above that applies in England and Wales). This means that a Scottish taxpayer earning £50,000 will pay £1,542 more tax.
The other major change was to Land & building Transaction tax, LBTT, which will see a higher 2% rate applied to leases with a net present value above £2 million.
