The Scotland Act 2016 (Income Tax Consequential Amendments) Regulations, SI 2017/468, come into force on 24 March 2017, making amendments to areas of income tax which may involve rates other than the basic rate, such as relief-at-source pensions, the pensions annual allowance charge and ‘scheme-pays’ rules, residuary income of a deceased estate, payments from settlor-interested trusts, social security lump sums and gift aid, to ensure consistent treatment for Scottish taxpayers, should Scottish rates of income tax diverge from those in the rest of the UK. HMRC consulted on an initial draft of the regulations in November 2016, followed by a final draft in January.
The Scotland Act 2016 (Income Tax Consequential Amendments) Regulations, SI 2017/468, come into force on 24 March 2017, making amendments to areas of income tax which may involve rates other than the basic rate, such as relief-at-source pensions, the pensions annual allowance charge and ‘scheme-pays’ rules, residuary income of a deceased estate, payments from settlor-interested trusts, social security lump sums and gift aid, to ensure consistent treatment for Scottish taxpayers, should Scottish rates of income tax diverge from those in the rest of the UK. HMRC consulted on an initial draft of the regulations in November 2016, followed by a final draft in January.
