20 November 2020
With only around two months to go until the end of the EU withdrawal transition period, pressure is mounting on both sides to reach a deal on how the relationship between the UK and the EU will operate from 1 January 2021, but a no deal scenario remains a real possibility .
01 February 2019
Despite rhetoric that the draft Scottish Budget might be voted down today, the SNP and the Greens have done a last-minute deal to get the draft fiscal plans through with some concessions.
14 September 2018
It is now more than three years since land and buildings transaction tax (LBTT) was introduced in Scotland to replace stamp duty land tax (SDLT). Prior to its introduction on 1 April 2015, the structure and rates of the tax were published in November 2014. This encouraged a review of SDLT and significant changes were introduced in the rest of the UK in December 2014. The impact these changes have made south of the border has been widely reported.
20 July 2018
The UK government has announced it will compensate military personnel who now pay more tax due to Scottish tax reform. Changes to tax rates in Scotland which came into effect in April 2018 means any Scottish taxpayer earning more than £26,000 pays more income tax than taxpayers in the rest of the UK.
16 February 2018
The Scottish Budget issued on 14 December 2017 proposed some radical changes to the income tax regime for Scottish taxpayers from 6 April 2018. While attention has been focussed on the implications for individuals on the receiving end of potential tax increases that raise the tax take from Scottish income tax, the knock-on effects for business across the UK cannot be underestimated.
27 June 2017
Despite good intentions, sometimes policy decisions intended to do one thing end up having the opposite effect. The Land and Buildings Transaction Tax in Scotland aimed to stimulate the property market, but recent statistics highlight a decline in sales, particularly in the middle of the housing market. Will a fall in sales and reduced tax revenue force changes to the tax?