ICAS publishes Guide to Scottish Taxes for 2022
By Justine Riccomini, Head of Tax (Employment and Devolved taxes)
13 September 2022
Justine Riccomini explains what readers will find in the latest edition of the ICAS Guide to Scottish Taxes
ICAS has published a revised Guide to Scottish Taxes. It is based on the legislation in place in March 2022 and includes the five income tax rates and bands that are in place for Scottish taxpayers in 2022/23.
Scotland’s taxes are increasingly diverging from the rest of the UK, and there are practical and administrative considerations that taxpayers, tax advisers, and the accounting profession need to be aware of.
The Guide discusses:
- the background to Scottish taxes;
- public finances in Scotland;
- which tax authority is responsible for which tax; and
- a brief outline of each Scottish tax.
Income Tax Bands | 2022-23* £ |
|---|---|
Starter Rate – 19% | 12,571 * - 14,732 |
Scottish Basic Rate – 20% | 14,733 – 25,688 |
Intermediate rate – 21% | 25,689 – 43,662 |
Higher Rate – 41% | 43,663 – 150,000** |
Top Rate – 46% | Over £150,000** |
*Where an individual is entitled to the standard UK Personal Allowance.
**As with the rest of the UK, those with earnings exceeding £100,000 will suffer a Personal Allowance reduction of £1 for every £2 earned over £100,000. Therefore, when income reaches £125,140 the personal allowance is fully withdrawn.
