Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
Murray Beith Murray LLP is a leading Scottish private client law firm.
For 175 years we have specialised in meeting the legal, financial and administrative needs of individuals and families, family trusts, charities and private companies.
As the new tax year (2022/2023) draws close, here is our reminder of the proposed income tax rates and allowances for Scottish taxpayers as announced in the Scottish Budget on 9 December 2021 by Scottish Finance Secretary, Kate Forbes.
From 6 April 2022 there are no changes to the rates of income tax and the higher and top tax rate thresholds remain at the same level as in the current (2021/2022) tax year. However, the starter and basic rate bands will increase by 3.1%, the CPI inflation rate.
The proposed new bands for 2022-2023 – assuming that the standard UK personal allowance applies.
|
Rate |
% |
Income Band (£) |
|
|
Proposed 2022-23 |
Current 2021-22 |
||
|
Starter rate |
19 |
12,570 - 14,732 |
12,570 - 14,667 |
|
Basic rate |
20 |
14,732 - 25,688 |
14,667 - 25,296 |
|
Intermediate rate |
21 |
25,688 - 43,662 |
25,296 - 43,662 |
|
Higher rate |
41 |
43,662 - 150,000 |
43,662 - 150,000 |
|
Top rate |
46 |
150,000 + |
150,000 + |
If this article has raised any questions or you would like to discuss your tax affairs then please complete our contact form or call 0131 225 1200.
Murray Beith Murray was established in 1849, as advisors for generations of clients, committed to our values of integrity, expertise and trust. This aim and these values continue to this day as does our commitment to be here when you need us.
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