Scottish Draft Budget 2016/17 | KPMG | UK

Scottish Draft Budget 2016/17

Scottish Draft Budget 2016/17

The Scottish Finance Secretary, John Swinney, presented his draft budget to the Scottish Parliament on 16 December 2015.




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Scottish draft budget

Key highlights:

  • Businesses – Scottish Landfill tax increases in line with UK Landfill Tax; no changes to Land and Buildings Transaction Tax (LBTT) on non-residential property
  • Employers – HM Revenue & Customs will issue PAYE codes to employers that identify ‘Scottish taxpayers’
  • Individuals – ‘Scottish taxpayers’ will pay income tax at the same rates as other UK taxpayers in 2016/17; surcharge to be levied on second residential properties similar to the additional Stamp Duty Land Tax charge to be introduced in the rest of the UK
  • Key rates – Scottish Rate of Income Tax used to calculated the Scottish basic, higher, and additional rates of income tax to be set at 10 percentage points; 3% LBTT surcharge to apply to total consideration paid for second residential properties worth more than £40,000”


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This article represents the views of the author only, and does not necessarily represent the views or professional advice of KPMG in the UK.

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