Legislative changes resulting from the introduction of the Scottish rate of income tax.
Legislation will be introduced in Finance Bill 2014 to set out the Scottish basic rate, Scottish higher rate and Scottish additional rate, how each is calculated, and the income charged at these rates. The calculation of these rates will remain unchanged.
The measure will ensure that the income tax legislation relating to the Scottish rate of income tax (SRIT) can be applied to a number of consequential areas in a clear and straightforward manner. This measure will enable changes to be made which will mean that certain types of income will be taxed at Scottish (rather than UK) rates. Any impact on individuals in receipt of this income will depend on rates set by the Scottish Government.
The changes to introduce the SRIT are expected to take effect on 6 April 2016.