Scotland continues to take an independent line when it comes to property taxes.<\/p>\n
In a move that\u2019s even more draconian than the England mansion tax proposal, the Scottish Government is to spend \u00a35m on a \u201ctargeted revaluation\u201d of certain properties.<\/p>\n
This is to create two new council tax bands targeting houses worth more than \u00a31m.<\/p>\n
This will be done by reassessing properties in the top two bands \u2013 G and H \u2013 and then turning those two bands into four.<\/p>\n
There were 391 properties sold for more than \u00a31m in 2024-25 with over half in Edinburgh.<\/p>\n
David Alexander, the chief executive officer of the DJ Alexander lettings agency. comments: \u201cThe issue will be over who values the properties and, given the relatively low number in Scotland, whether this is really about revenue raising or political point scoring.\u201d<\/p>\n
The Scottish Government didn\u2019t rule out a future rise in income tax on landlords as recently announced for England.\u00a0<\/p>\n
Scottish Association of Landlords chief executive, John Blackwood, says: \u201cScotland\u2019s landlords will be disappointed by this budget.<\/p>\n
\u201cIn particular by the Finance Secretary\u2019s refusal to rule out the 2p increase on income tax.\u00a0<\/p>\n
\u201cThat this tax may come into effect in 2027-28, subject to a legislative consent motion, will cause further uncertainty within Scotland\u2019s private rented sector.\u201d<\/p>\n
Income tax is also changing in Scotland, where those earning under about \u00a330,000 pay slightly less tax than elsewhere in the UK.<\/p>\n
People earning more, face progressively higher taxation.<\/p>\n
People will pay the 19% starter rate earlier while the basic (20%) rate, which currently starts at \u00a315,398, will go up by 7.4% to \u00a316,537.<\/p>\n
The intermediate rate (21%), which currently starts at \u00a327,492, will also go up by the same amount to \u00a329,527.<\/p>\n
The higher tax rate (42%) will continue to kick in at \u00a343,663.<\/p>\n","protected":false},"excerpt":{"rendered":"Scotland continues to take an independent line when it comes to property taxes. In a move that\u2019s even…\n","protected":false},"author":2,"featured_media":694257,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5009],"tags":[748,4884,712,1200,16,15],"class_list":{"0":"post-694256","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-scotland","8":"tag-britain","9":"tag-great-britain","10":"tag-scotland","11":"tag-tax","12":"tag-uk","13":"tag-united-kingdom"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@uk\/115890656608864159","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/694256","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/comments?post=694256"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/posts\/694256\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media\/694257"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/media?parent=694256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/categories?post=694256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/uk\/wp-json\/wp\/v2\/tags?post=694256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}