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Scotland is to have responsibility for its own taxes on land transactions and disposals to landfill from April 2015, when the current UK stamp duty land tax (SDLT) and landfill tax will be replaced.
The Scottish parliament recently published a consultation paper, setting out its thinking on the proposed land and buildings transaction tax.
One of the questions raised concerned whether the levy should continue the existing approach as a ‘slab’ or if a more progressive approach should be taken.
The document also asked if the new land tax should be introduced on a revenue-neutral basis, or should raise less or more revenue. How the tax may better reflect the conditions in Scotland was also discussed.
The new taxes will be administered and collected in Scotland through the establishment this year of Revenue Scotland, which will work with Registers of Scotland and the Scottish Environment Protection Agency.
By 2015, Revenue Scotland will have been established in statute at arm’s length from ministers.
In contrast, under the Scotland Act, it is HMRC that will implement the Scottish rate of income tax.
