Skip to content

Quality Advice Quality Service

Show / hide the search form Menu

Scotland vs England – A Taxpayer Comparison

The Institute of Charted Accountants Scotland (ICAS) has made an interesting and very useful comparison of the 2023/24 Scottish Tax Rates against those announced in the Scottish Budget of 19 December 2023, for 2024/25.

ICAS have also looked at the differences between a Scottish taxpayer and the rest of the UK.  Even at modest income levels (£50,000), there is at least a £1,500 differential.

An employee in Scotland earning £110,000 will take home less than someone in England, who earns £100,000.  One way or another, that £10,000 differential is purely tax.  In addition, for employees, the marginal rate of 69.5% extends all the way from £100,000 to £125,140.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Source: ICAS

Back to News and Events

News and Events

Global Market Commentary – June

2024 always promised to be a busy year for elections, with one half of the world’s population heading to the polls. As far as financial markets are concerned, political surprises have now bubbled up in several countries within a short period of time. With much still to be decided by voters, there is greater uncertainty in the short-term investment outlook. However, inflation remains on a declining path in the UK, US and Europe, while economic growth appears strong.

Reminder of our Terms of Business

Greaves West & Ayre (GWA) has tried to deliver “Quality Advice – Quality Service” for over 106 years. Over…

Join us at the Summer Shows 2024

Summer is just round the corner and we would be delighted if you joined us at the Haddington Show and the Border Union Show once again this year. 

Global Market Commentary – May

Recent data has hinted at a divergence between the US and UK/EU economies, with signs of an economic slowdown in the States coinciding with Britain and Europe rebounding from a period of stagnant GDP growth. Having been neglected for several years post-Brexit, there is hope that UK stocks may finally prosper given a more favourable macroeconomic environment.