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Holyrood agrees Scottish Budget

09 March 2020
Issue: 4735 / Categories: News

The Scottish parliament has agreed that the Budget (Scotland) (No 4) Bill be passed by 63 votes to 55.

In the Budget statement which took place on 6 February public finance minister Kate Forbes set out plans to increase the basic and intermediate income tax rate thresholds by inflation and freeze the higher rate and top rate thresholds. Other plans include maintaining residential land and buildings transaction tax (LBTT) rates and bands at their current level while adding a third band for non-residential leases. The standard rate of Scottish landfill tax will increase to £94.15 per tonne and the lower rate to £3 per tonne to ensure consistency with planned landfill tax charges in the rest of the UK.

However MSPs cannot rule out the prospect of making further changes to income tax before the start of the new tax year according to the Chartered Institute of Taxation....

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