The Scottish Budget 2024
The Scottish Government rolled out their Budget which has seen a tweak to the early rate band thresholds from April 2025 and an immediate 2% rise in the Additional Dwellings Supplement on second homes. Because of the hung Parliament situation in Scotland, this Budget will need the support of either the Green s or the Scottish Liberals to get it approved. Please see below a Budget synopsis.
Scottish Budget
- From April 2025 the Scottish starter rate band for income tax as regards non-savings and non-dividend income will increase to £15,397 (presently £14,876) and the basic rate band up to £27,491 (presently £26,561).
- All the rest of the rate band thresholds and the tax rates will stay the same.
Proposed Income tax levels in Scotland 2025/26
| Band | Earnings | Tax Rate |
| Personal allowance | First £12,570* | 0% |
| Starter rate | £12,571 – £15,397 | 19% |
| Scottish Basic rate | £15,398 – £27,491 | 20% |
| Intermediate rate | £27,492 – £43,662 | 21% |
| Higher rate | £43,663 – £75,000 | 42% |
| Advanced rate | £75,001 – £125,140 | 45% |
| Top rate | Over £125,140 | 48% |
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* Reduce by £1 for every £2 earned between £100,000 and £125,140.
- The normal residential and commercial Land & Building Transaction Tax (LBTT) rates and rate bands will remain the same.
- However, the LBTT Additional Dwellings Supplement on acquiring a second residential property (individual) or a residential property (Company/Trust), will increase from 6% to 8% on the total value of the property from 5th December 2024.
- This increase will not, however, apply to transactions for which legal missives have been signed on or before 4 December.
- A further £2 billion increase in frontline NHS spending taking overall health and social care investment to £21 billion to reduce NHS waiting lists.
- Funding for universal winter heating payments for older Scots, and investment to allow the mitigation of the two-child cap from 2026. a real-terms uplift of 3% for spending on education and skills to maintain teacher levels and invest in school infrastructure, as well as new funding to put more breakfast clubs in primary schools
- £15 billion funding for local government to support the services communities rely on and £768 million to provide 8,000 more affordable homes.
- £4.9 billion of action on the climate and nature crises to lower emissions and energy bills, protect the environment, and create new jobs and opportunities.
- A £34 million uplift for culture in 2025-26, building on the £15.8 million increase in the last Budget to take the total incremental increase in culture funding to almost £50 million.
