Nicola Sturgeon exploits loophole which avoids paying higher income tax introduced by her OWN government
Nicola Sturgeon has taken another £20,000 dividend from her media company – potentially avoiding the record income tax rates set by the SNP .
The former First Minister has now withdrawn a total of £30,000 in dividends from Nicola Sturgeon Limited since January, according to her updated Holyrood register of interests.
Dividends are taxed at a lower level than income, and the revenue goes to the UK Treasury, not the Scottish Government.
According to official tax calculators, an MSP would pay around £8,985 in Scottish income tax on £20,000 of income above their £74,507 salary in the current financial year.
But the tax on a £20,000 dividend would be £6,580, around £2,400 less.
The Scottish Conservatives urged the Glasgow Southside MSP to explain her actions.
Tory finance spokesman Craig Hoy said: 'Nicola Sturgeon should be open and transparent about her tax arrangements.
'As the First Minister who imposed record levels of taxation on hard-working Scots, she should be up front about whether this mechanism is simply about reducing her tax liabilities.
Nicola Sturgeon recently enjoyed a sell-out show about her memoirs, Frankly, at the Edinburgh Book Festival and two in Stewarton (pictured in her social media photo) in her native Ayrshire
Ms Sturgeon poses with her memoir at the Edinburgh International Book Festival on August 14
'If it is, she needs to explain frankly why the 'progressive' income tax hikes she championed are so unappealing when it comes to her own income.'
Ms Sturgeon recently enjoyed a sell-out show about her memoirs, Frankly, at the Edinburgh Book Festival and two in Stewarton in her native Ayrshire.
And, after an appearance on the Rest is Politics podcast, presenter Rory Stewart hailed her as 'natural, open, self-reflective, self-critical', not 'stiff, brittle, defensive' as in the past.
The former Tory minister said he found her an 'incredibly attractive human person that I warmed to immensely'.
Ms Sturgeon set up her one-woman 'artistic creation' firm in September 2023, shortly after quitting Bute House.
It handles money from her writing and TV work, including a £25,000 appearance fee for ITV's general election night show and most of the £300,000 advance from her Memoirs.
She withdrew an initial dividend of £10,000 on January 31, in the last financial year.
Her MSP register shows she received another £20,000 'in the form of a dividend from my company' on June 30.
Tory finance spokesman Craig Hoy (above) said Ms Sturgeon should be 'open and transparent'
Her only other declared withdrawals have been for the reimbursement of travel, accommodation and IT expenses totalling around £4,130.
Scottish income tax, the highest in the UK, applies to 'non-savings, non-dividend' income, meaning it is not ordinarily levied on dividends.
Besides being cheaper, dividend tax goes to HM Revenue & Customs, meaning the SNP Government loses out on income tax revenue that could help pay for public services.
Ms Sturgeon's spokeswoman said: 'Nicola will pay all tax due. The money will be subject to both company tax and personal tax.'
Ms Sturgeon, who received £64,378 for loss of office after standing down as FM, is also in line for a £74,500 'resettlement grant' when she leaves Holyrood at May's elections.
