The draft Scottish Rate of Income Tax (Consequential Amendments) Order 2015 Regulations introduce amendments to ensure that the Scottish rate of income tax operates as intended in relation to other areas of UK income tax legislation from April 2016. In particular, this will affect: pensions tax relief at source; the annual allowance charge and ‘scheme pays’ rules; deficiency relief for life insurance policies; residuary income of deceased estates and annual payments from settlor-interested trusts; state pension lump sums; transferable marriage tax allowance; and gift aid relief.
The draft Scottish Rate of Income Tax (Consequential Amendments) Order 2015 Regulations introduce amendments to ensure that the Scottish rate of income tax operates as intended in relation to other areas of UK income tax legislation from April 2016. In particular, this will affect: pensions tax relief at source; the annual allowance charge and ‘scheme pays’ rules; deficiency relief for life insurance policies; residuary income of deceased estates and annual payments from settlor-interested trusts; state pension lump sums; transferable marriage tax allowance; and gift aid relief.
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