![]() |
The basic and intermediate income tax bands in Scotland will increase by 3.5%. This means people’s earnings will be taxed at a lower rate than under the current system. There will be a freeze on thresholds for higher earners in Scotland. Scotland has six income tax bands, in contrast to England, Wales and Northern Ireland where there are just three. |
Sarah Coles, Head of Personal Finance, Hargreaves Lansdown: “Yet again, higher earners are stepping in to fill the government’s coffers in Scotland. Taxpayers enjoy key additional benefits north of the border – not least free prescriptions, a universal Winter Fuel Payment for pensioners from next year and no tuition fees for Scottish students studying in Scotland. However, they’re picking up the bill for this with higher taxes – particularly among those who earn more. Already, around 1.5 million people who earn more than £28,850 pay more income tax than they would elsewhere in the UK. The changes today will ease the tax burden for those further down the income spectrum, because by increasing the thresholds, it will protect them from the horrors of fiscal drag, which pushes more people over tax thresholds with each pay rise. Finance Secretary Shona Robison has announced that the threshold of the basic band and the intermediate band would increase by 3.5% as part of the Scottish Budget. The freezes for higher earners pile more tax misery on an already hefty burden. The Scottish government is keen that those with the broadest shoulders carry the biggest burden, but those shoulders will be feeling increasingly painful. Whenever tax changes kick in, it raises the question of whether it will be enough to persuade higher earners to leave Scotland. However, you don’t need to part with the attractions of life north of the border in order to pay less tax. Tax free allowances including ISAs and SIPPs can play an essential role in keeping your tax bill down, rather than having to consider anything more drastic.”
|
|
|
|
BPA Implementation Manager | ||
North / hybrid working 50/50 - Negotiable |
Head of Reserving | ||
City of London - £150,000 Per Annum |
PRT or BPA Specialist | ||
Nationwide offices / hybrid working - Negotiable |
Retirement Consultant | ||
UK-wide / hybrid 2 dpw office-based - Negotiable |
GI Associate Actuarial Director | ||
London / hybrid 2-3 dpw office-based - Negotiable |
GI Actuarial Senior Manager | ||
London / hybrid 2-3 dpw office-based - Negotiable |
Actuarial Manager - GI/Risk | ||
London / hybrid 2-3 dpw office-based - Negotiable |
Insurance Risk Manager | ||
London / hybrid 2-3 dpw office-based - Negotiable |
Financial Risk Leader - ALM Oversight | ||
Flex / hybrid - Negotiable |
Financial Risk Leader | ||
Flex / hybrid - Negotiable |
Take the lead on actuarial financial ... | ||
Flex / hybrid - Negotiable |
With-Profits and Investment Risk Expert | ||
Flex / hybrid - Negotiable |
Reinsurance Actuary | ||
London/Hybrid - Negotiable |
CONTRACT (12 months): Underwriter | ||
Fully remote - Negotiable |
CONTRACT (12 months): Senior Underwriter | ||
Fully remote - Negotiable |
MI Manager | ||
UK South West / hybrid 2 days in the office - Negotiable |
Senior MI Analyst | ||
UK South West / hybrid 2 days in the office - Negotiable |
LONDON MARKET CONTRACT: Capital Model... | ||
London/hybrid 2-3dpw office-based - Negotiable |
Senior M&A Actuary | ||
London / hybrid 3 dpw office-based - Negotiable |
Market-leading Pricing | ||
South East or Scotland / hybrid 2 dpw in the office - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.