The income tax gap with the rest of the UK could put some people off coming to work in Scotland, economists have said.Scotland's finance secretary confirmed on Wednesday he will not pass on a tax break for higher earners that was announced by the chancellor in October.It means people earning £50,000 in Scotland will pay £1,500 more income tax than elsewhere in the UK.The Scottish Fiscal Commission said it could make people "think twice" about working in Scotland.And they predicted it would also make others consider leaving Scotland or changing their residency status, and would have an impact on whether people go for a promotion or work more hours. Overall, they forecast that this "behavioural change" will reduce income tax revenues in Scotland by about £6m a year. The Scottish government argues that the country has a fairer tax regime than the rest of the UK, and that people living in Scotland get perks such as free university tuition and personal care that other parts … [Read more...] about Scottish Budget: Economists issue income tax gap warning
Income tax uk how does it work
MSPs have voted to approve the Scottish government's income tax plans for the coming year.Finance Secretary Derek Mackay chose not to pass on a tax cut given to higher earners elsewhere in the UK.This gives the government extra money to spend but means the gap between the Scottish income tax regime and that in the rest of the UK continues to grow.The move was signed off at Holyrood by a vote of 61 to 52, with the six Green members abstaining.Mr Mackay signed off a deal with the Greens to ensure the budget passes at all stages, with the final votes in the chamber on Thursday. How much will you pay? Income tax calculator Scottish budget at a glance Brian Taylor on the income tax debate Scotland has a five-band income tax system, which sees lower earners pay slightly less in tax than those elsewhere in the UK, while higher earners pay more.Only minimal changes are being made for 2019-20 - most of the rates thresholds are to rise with inflation, but the higher rate threshold has been … [Read more...] about MSPs approve Scottish government income tax plans
As a European Union member, the UK is part of about 40 trade agreements which the union has with more than 70 countries. If the UK leaves the EU in a no-deal Brexit on 29 March, it will immediately lose these deals. Last year, the UK government said it wanted to replicate the EU's trade agreements "as far as possible" and have them ready to go immediately in the event of a no-deal Brexit.So how much progress has the government made?'No deals yet'Being a part of the EU means the UK (or any other EU member) cannot implement its own trade deals. Trade negotiations are instead handled by the EU on behalf of its members. These existing arrangements are designed to make trade easier between the EU and the rest of the world. This could include: relaxing certain rules, reducing taxes (tariffs) on imports and exports, or granting easier market access.The government estimates that about 11% of UK's trade relies on the EU's agreements with other countries.But on Thursday, International Trade … [Read more...] about Brexit: How many trade deals has the UK done?
POWERFUL earthquakes in the UK are thankfully a pretty rare phenomenon, but they do happen. Hundreds of tiny tremors too minor to be felt or cause any damage hit Britain every year. Here are the movers and the shakers, and the ones that won't wake you. When and where was the strongest earthquake ever recorded in the UK? The largest known British earthquake occurred in the North Sea, near the Dogger Bank in 1931, with a magnitude of 6.1. It was 60 miles offshore but still powerful enough to cause minor damage to buildings on the east coast of England.The most damaging UK earthquake was in the Colchester area in 1884, in which several people were killed and shockwaves were felt as far away as the Houses of Parliament. While many of the stronger quakes in the UK are under the sea, like the earthquake which hit 100 miles off Scarborough in January 2017, some do happen on land. In 2007 and earthquake in Kent registered as 4.3, with Folkestone the worst hit area. In 2008, a 5.2 quake … [Read more...] about Where was the strongest earthquake ever recorded in the UK and how does Cornwall compare?
A council boss who was paid £135,000 not to go to work claims he's "been hung out to dry" over the scandal. Anthony O’Sullivan received the hefty sum for six and a half years after being first suspended and later put on “special leave”. Despite being on full pay, Mr O'Sullivan described the time as "awful" as he attacked his former bosses. The 60-year-old former Caerphilly council chief executive insisted he had done nothing wrong and said the story had taken a toll on his family. In an interview with Wales Online, he said he'd been good at his job and “hugely popular with staff” but had been “hung out to dry” by senior councillors. He said the they had initially approved huge pay rises for senior staff at the secret meeting, which was at the centre of the controversy. Mr O'Sullivan was paid more than £1m from the public purse in pay and pensions from his first suspension in March 2013 until his sacking last month. Asked to respond … [Read more...] about Council boss paid £135k not to turn up at work says he’s ‘been hung out to dry’