New 45% income tax band for higher earners in Scotland

This ‘advanced' rate will be for those earning between £75,000 and £125,140 and will be implemented from next April. The rate on these earnings was previously 42%. Additionally, the top rate of tax paid by those earning more than £125,000 will rise from 47% to 48% and the current threshold for paying the higher band of £43,663 will be frozen. This was announced by Scottish finance secretary Shona Robison as she presented the government's budget for next year. These latest tax changes mean Scotland now has six income tax bands while the rest of the UK has three. The Scottish governm...