income tax ready reckoner pdf free download

The Scottish Parliament has the power to set Income Tax rates and bands for the non-savings non dividend ( NSND) income of Scottish taxpayers. The impact could feasibly be positive or negative for any of the policy changes costed. *Changes to the Top Rate or Threshold produced very small revenue estimates, and the exact magnitude and direction of which are highly uncertain.

Reduce the Top Rate Threshold by £10,000*

Table 1: Scottish Income Tax Ready Reckoners, 2022-23 They do, however, factor in taxpayers' behavioural responses, such as decisions whether to work or not how many hours to work whether to incorporate and pay business related taxes or whether to re-locate to or from other parts of the UK or the world.

The ready reckoners only show the direct impact on Scottish Income Tax liabilities and do not include any wider effects on the Scottish economy, other devolved or local receipts, or UK Government revenues. Official forecasts of Scottish Income Tax policy are produced by the Scottish Fiscal Commission ( SFC) and therefore these ready reckoners are indicative. The note complements similar publications by HMRC and the Welsh Government and updates the ready reckoners presented in our 2017 publication The Role of Income Tax in Scotland's Budget and following the 2021-22 Scottish Budget. These are intended to assist researchers and policymakers, improve transparency and facilitate public understanding in this area.

This note presents a set of ready reckoners which show the estimated revenue impact of illustrative changes to Scottish Income Tax policy in 2022-23. Scottish Income Tax Ready Reckoners for 2022-23 : Office of the Chief Economic Adviser Summary

Income tax ready reckoner pdf free download