All the updated news related to income tax

All the news related to income tax updated in real time

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Government should avoid NI rise during cost of living crisis, experts warn

The Government should not be raising national insurance during the cost of living crisis, economists have told MPs. Giving evidence to the Treasury Select Committee, Tom Clougherty, from the Centre for Policy Studies, said it was “extremely ...

31 Jan 2022 at 19:56

Scottish Government will continue its ‘fairer’ approach to tax, says minister

The Scottish Government will continue to pursue a “fairer and more progressive approach to taxation”, one of Nicola Sturgeon’s ministers has said. Richard Lochhead spoke out as Tories in Scotland urged SNP ministers in Holyrood to follow ...

24 Sept 2022 at 16:31

Scotland

Weaker economic growth costing Scottish Government almost £700m, say experts

The Scottish Government could be losing out on almost £700 million of revenue from income tax because of weaker economic growth north of the border. The Scottish Fiscal Commission (SFC) – which as part of its remit forecasts how much ...

25 Jan 2023 at 17:07

Swinney: Scottish budget uses ‘limited resources’ where they are needed most

Scotland’s Deputy First Minister has urged MSPs to approve tax and spending plans for the coming year which will see the “limited resources” of the Scottish Government focused on “where they are needed most”. John Swinney made the ...

21 Feb 2023 at 00:01

Scottish councils to receive extra £100m boost, reveals John Swinney

Councils have received a last-minute boost of £100 million, the Deputy First Minister has announced. Speaking in the stage three debate on the Budget (Scotland) Bill, John Swinney revealed the Scottish Government had received a ...

21 Feb 2023 at 16:07

Scotland

‘No definitive evidence’ higher rate top tax rate is cutting revenue – Robison

Scotland’s Finance Secretary has said there is “no definitive evidence” of the Scottish Government’s increase on income tax for top earners having led to a reduction in revenue. The Institute for Fiscal Studies (IFS) warned ...

19 Nov 2024 at 16:04

Scotland

Tax changes could net £3.7bn a year more for Scotland, STUC says

Scottish ministers are being urged to use tax powers to “make a real difference” by introducing changes that could raise almost £4 billion in additional funding for public services. The Scottish Trades Union Congress ...

04 Dec 2023 at 16:27

Personal Finance

Some pensioners ‘may have to set money aside for unexpected tax bills’

Some pensioners could have to start setting money aside for out-of-the-blue tax bills, a consultancy firm is warning. Frozen income tax thresholds, alongside bumper state pension rises, may push more pensioners into ...

21 Oct 2023 at 00:01

£2 taken from households in ‘stealthy’ freezes for every £1 in tax cuts – IFS

Households will lose more from “opaque and stealthy” freezes over the next three years than they will gain from headline tax cuts on average, according to the Institute for Fiscal Studies (IFS). By 2025–26, the ...

06 Oct 2022 at 01:01

Scotland

Scots face ‘budget of difficult decisions’, Deputy First Minister warns

The Scottish Government will consider tax changes “very carefully” ahead of a budget in which “very challenging decisions” will have to be made, the Deputy First Minister said. Shona Robison told MSPs that the ...

03 Oct 2023 at 13:15

Scotland

‘Difficult choices’ ahead for next Scottish Government to balance books – expert

The winners of next May’s Holyrood election will face “really difficult choices” balancing the budget, experts have warned – with Scotland facing a near £5 billion financial black hole by the end of the ...

26 Aug 2025 at 12:44

Scotland

Almost quarter of a million more Scots could be higher rate taxpayers by 2027-28

Almost a quarter of a million Scots could become higher rate tax payers in the next few years if no changes are made to the threshold, experts have said. The Scottish Fiscal Commission (SFC), the ...

01 Jun 2022 at 14:50

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