How will the Autumn and Scottish Budgets affect you?
If you want to know how the Autumn and Scottish budgets will affect your income and spending for 2018 then follow the link below to the BBC website that shows a budget calculator:
Further reports on the BBC news shows:
“The Scottish budget includes major changes to Scotland’s income tax rates and bands, which will see middle and high earners pay more and lower earners pay less.
The minority SNP government struck a deal with the Scottish Greens last month that will give them enough votes to pass the budget.
The deal agreed with the Greens will see the party’s six MSPs support the budget in return for a package which includes £170m more for local councils than had originally been proposed.”
“The most significant change is the move to a five-band income tax system.
Scotland currently has three income tax bands – a 20p basic rate, a 40p higher rate kicking in at £43,001 and a 45p additional rate for earnings over £150,000.
The budget redraws the system by adding a 19p “starter” rate and a 21p intermediate rate, while adding 1p to the higher and additional rates to create a five-band system.”
Credit: BBC News
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