The CIOT has welcomed the passing of the Revenue Scotland and Tax Powers Bill by the Scottish Parliament. The Bill means that Scotland now has the legal framework to operate its own tax authority for devolved taxes. Moira Kelly, chair of the CIOT’s Scottish technical sub-committee, said: ‘Although all eyes are fixed firmly on the outcome of the Scottish independence referendum in just under one month, the passing of the Bill has now permanently changed Scotland’s tax landscape regardless of a ‘yes’ or ‘no’ vote. Scotland now has its own tax authority, firmly established in law.
‘A number of tax powers have already been devolved to Scotland since the passing of the Scotland Act in May 2012. The commencement of the Scottish rate of income tax in April 2016 means that Scotland will levy its own rate of income tax to supplement a reduced UK rate. Laws have also been passed which replace stamp duty land tax with a land & buildings transaction tax and devolve landfill tax to Scotland, both effective from April 2015.’
‘Positive changes were made during the passage of the latest Bill. Tax rules regarding penalties, for example when they apply and what they arise in respect of, were not originally included in the primary legislation but now are. These are the fruits of a sound consultative process where concerns have been listened to. Some disappointments remain though, including a lack of detail on the rights, duties and obligations of agents and advisers,’ Kelly added.
The CIOT has welcomed the passing of the Revenue Scotland and Tax Powers Bill by the Scottish Parliament. The Bill means that Scotland now has the legal framework to operate its own tax authority for devolved taxes. Moira Kelly, chair of the CIOT’s Scottish technical sub-committee, said: ‘Although all eyes are fixed firmly on the outcome of the Scottish independence referendum in just under one month, the passing of the Bill has now permanently changed Scotland’s tax landscape regardless of a ‘yes’ or ‘no’ vote. Scotland now has its own tax authority, firmly established in law.
‘A number of tax powers have already been devolved to Scotland since the passing of the Scotland Act in May 2012. The commencement of the Scottish rate of income tax in April 2016 means that Scotland will levy its own rate of income tax to supplement a reduced UK rate. Laws have also been passed which replace stamp duty land tax with a land & buildings transaction tax and devolve landfill tax to Scotland, both effective from April 2015.’
‘Positive changes were made during the passage of the latest Bill. Tax rules regarding penalties, for example when they apply and what they arise in respect of, were not originally included in the primary legislation but now are. These are the fruits of a sound consultative process where concerns have been listened to. Some disappointments remain though, including a lack of detail on the rights, duties and obligations of agents and advisers,’ Kelly added.
