Finance Act 2014 (c. 26)

SCHEDULES

SCHEDULE 38 U.K. Scottish basic, higher and additional rates of income tax

PART 1 U.K. Amendments of ITA 2007

3 U.K. After section 6 insert—

“6A The Scottish basic, higher and additional rates

(1) The Scottish basic rate, the Scottish higher rate and the Scottish additional rate for a tax year are calculated as follows.

• Step 1 Take the basic rate, higher rate or additional rate.

• Step 2 Deduct 10 percentage points.

• Step 3 Add the Scottish rate (if any) set by the Scottish Parliament for that year.

(2) For provision about the setting of the Scottish rate, see Chapter 2 of Part 4A of the Scotland Act 1998.”