The government has published the draft Scotland Act 2016 (Income Tax Consequential Amendments) Regulations 2017, making consequential 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. This is to ensure the same treatment for Scottish taxpayers, should the Scottish Parliament set rates of income tax that do not correspond to the rates that apply to the remainder of the UK.
HMRC consulted on an initial draft of the regulations in November 2016.
The government has published the draft Scotland Act 2016 (Income Tax Consequential Amendments) Regulations 2017, making consequential 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. This is to ensure the same treatment for Scottish taxpayers, should the Scottish Parliament set rates of income tax that do not correspond to the rates that apply to the remainder of the UK.
HMRC consulted on an initial draft of the regulations in November 2016.
