The Scottish Government Cabinet Secretary for Finance and the Constitution, Derek Mackay MSP, has today published his first budget which is also the first budget in which the Scottish Government is making use of the powers devolved through the Scotland Act 2016 – including powers over income tax.
Click here for a copy of the draft budget.
A snapshot of the relevant highlights in respect of commercial rates from this afternoon’s budget has been interpreted as:-
- Poundage (equivalent to UBR in England) of 46.6p
- 100% small business relief for properties with RV up to £15,000
- Threshold for large business supplement raised to £51,000
- 2.6p large business supplement (1.3p higher than England)
- No transitional scheme
- Match rural rates relief, and intend to match fibre tech relief