SRIT will be 10% for 2016/17

There will be no increase to the Scottish rate of income tax in 2016/17 said Scotland’s finance secretary John Swinney in his draft budget on 16 December 2015.

From April 2016 the UK income tax rates will be reduced by 10 percentage points for people living in Scotland. They will pay the Scottish rate of 10% on top of their UK rate.

Mr Swinney announced changes to the land and buildings transaction tax (LBTT) and the Scottish landfill tax (SLfT). Additional residential properties – those not intended for primary residence - will be subject to a 3% LBTT supplement from 1 April 2016 while the standard and lower rates for SLfT will rise in line with inflation from 1 April 2016.

Shirley McIntosh tax partner for RSM in Scotland said:

“As predicted the Scottish rate of income tax was confirmed as 10p in the pound...