Scottish budget 2017.

shutterstock_598314359

The Scottish Government has set out its spending and taxation plans for 2018 in its annual budget.

Please see some of the proposed changes to income tax below;

scottish budget

*Assumes individuals are in receipt of the Standard UK Personal Allowance.

**Those earning more than £100,000 will see their Personal Allowance reduced by £1 for every £2 earned over £100,000.

Jonathan Watts-Lay, Director, WEALTH at work, a leading provider of financial education, guidance and advice in the workplace, comments;

“If this is approved by the Scottish Parliament there clearly will be a new level of complexity within the tax system, which employees in Scotland  will need to understand,  especially when it comes to funding their pension and how tax relief will now be applied. Financial education in the workplace will be key to helping employees understand the implications to these proposed changes.”

For more information, please contact us.

Contact Jonathan

IMPORTANT – External links please read: Virus status

*Contents of links to external websites
Links to websites external to those of Wealth at Work Limited  (also referred to here as ‘we’, ‘us’, ‘our’ ‘ours’) will usually contain some content that is not written by us and over which we have no authority and which we do not endorse. Therefore please be aware that we do not accept responsibility for the content of any third party site(s) except content that is specifically attributed to us or our employees and where we are the authors of such content. Nor do we endorse any organisation or publication to which we link and make no representations about them.

Investment decisions
Please note that the content of this website including any external articles to which it links are not financial advice and must not be relied upon to make investment decisions.  Further, please note that investments can fall as well as rise and that if investing you may get back less than you originally invested.

Subscription only sites
Where we have been quoted in an article or we are the authors of an article held on a third party website we may provide a link to that site, even though it is a subscription only publication.  Please note that by doing so we are not advertising the subscription nor are we suggesting that you should subscribe. We are merely providing a link for those people who already have a subscription should they wish to read the article. If you do not have a subscription then often only the first lines of an article may be available to read. You should not rely on that limited content to form a view of what the whole article may say or conclude. Often a headline or an excerpt of an article are not representative of the article in full. Reading a part only and/or out of context may be misleading and must not be relied upon.

2 Shares