Chapter 10 - Scottish & Welsh Taxpayers Flashcards
True or false
Welsh tax rates -
basic rate 20%
higher rate 40%
additional rate 45%
True
What is the starter rate of tax in Scotland?
19%
First £2,306
What is the basic rate of tax in Scotland?
20%
to £13,991
What is the intermediate rate of tax in Scotland?
21%
to £31,092
What is the higher rate of tax in Scotland?
42%
to £62,430
What is the advanced rate of tax in Scotland?
45%
to £125,140
What is the top rate of tax in Scotland?
48%
Excess of £125,140
True or false
Scotland set their own personal allowance rate
False
The personal allowance rate is set by the UK Gov at £12,570
True or false
Scottish taxpayers suffer tax on their savings income the same way as all other UK tax payers
True
0%, 20%, 40%, & 45%
How do Scottish tax payers suffer tax on their dividend income?
In the same way as all other UK tax payers
8.75%, 33.75% & 39.35%
True or false
When calculating savings & dividends tax, we compare Scottish tax payers income to the tax bands for non-Scottish tax payers
True
Can an election for a Marriage Allowance be made where one partner pays tax at the intermediate rate of 21%?
Yes, as well as the starter rate of 19% & basic rate of 20%
True or False
The Scottish starter rate band will not be extended for gift aid donations
True
All other bands can be extended
What 2 factors have to be present for an individual to be considered as having a close connection to Scotland for tax purposes?
- they have a single place of residence in Scotland
OR
- their main place of residence is in Scotland for as much of the tax year as anywhere else
