Tax

The 2025/26 tax year has started this weekend (6 April), and the Chartered Institute of Taxation has republished tax tables showing how income tax for Scottish taxpayers is different compared to other parts of the UK. Increases to the basic and intermediate tax thresholds mean that Scottish taxpayer

Wbg is urging business owners to act now ahead of the forthcoming Making Tax Digital (MTD) mandate. MTD is the government's initiative to implement a fully digital tax system in the UK, whereby taxpayers keep digital records and use MTD-compatible software to make tax submissions electronically.

Scottish businesses are losing millions due to mismanagement of international VAT and Customs Duty rules, a tax expert has warned. Veronica Donnelly, head of VAT in Scotland with Azets says that whilst many businesses have knowledge of their obligations, the vast majority do not fully understand the

Official figures have revealed a significant shift in income tax contributions, with more UK adults over 70 paying tax than those under 30, according to official government figures. Treasury data for 2022-23 shows 5.45 million over-70s paid income tax, compared to 5.23 million under-30s. This revers

Former Bank of England Governor, Lord Mervyn King, has stated that an increase in income tax is likely necessary to fund heightened defence spending and facilitate public service reform. Speaking on Sky News, Lord King criticised the UK government's lack of ambition. He said: "When you’re faci

The impact of tax changes on Scotland’s distinctive farming sector is either severely misunderstood or being deliberately ignored by the UK government, Scottish Land & Estates said today. The rural business organisation was speaking following the meeting HM Treasury held with some represen

Almost half of people in Scotland do not believe higher levels of personal taxation provide value for money for public services, according to a new poll by Survation for True North Advisors. Only 32% of people surveyed believed having higher income tax rates than the rest of the UK had delivered bet

A Scottish business tax adviser has warned that hundreds of thousands of Scottish businesses are unprepared for new real-time payroll reporting rules set to take effect in April 2026. The changes, which will require businesses to report income tax and Class 1A National Insurance Contributions (NICs)

New figures have revealed a dramatic increase in the number of UK taxpayers facing a 60% tax rate on a portion of their earnings. Data obtained through a freedom of information request to HM Revenue & Customs shows that an estimated 634,000 individuals fell into this bracket in 2023-24, a 45% su

Scottish Financial Enterprise (SFE) has called on the Scottish Government to reverse its diverging income tax policy, warning that it is harming the economy. The financial and professional services industry organisation welcomed the Scottish Government’s focus on economic growth but urged mini

Scottish businesses planning to treat their staff to a festive party this Christmas are being cautioned to avoid exceeding the £150 per person tax exemption limit. Mark Pryce, head of corporate tax in Scotland for Azets, has warned that it is easy to fall foul of the legislation regarding exem

Chancellor Rachel Reeves has confirmed a rise in capital gains tax (CGT) and employers' national insurance contributions (NIC) in today's Autumn Budget statement.

Chancellor Rachel Reeves is expected to increase capital gains tax (CGT) on the sale of shares and other assets, but will leave the rate on second homes and buy-to-let properties unchanged.

Increasing capital gains tax (CGT) will not lead to lower investment, slower growth or reduced entrepreneurship, according to analysis from the Institute for Public Policy Research (IPPR). Despite recent claims in the media by a few wealthy individuals, the think tank has consulted with several mill

With budget pressures rising, could the Chancellor sweeten the deal by adding VAT to some guilty pleasures? From cakes to caviar, here are three tempting tax ideas that could bring in revenue – without leaving too much of a bitter aftertaste. MHA VAT director Glyn Edwards, with a pinch of dry