The ownership and use of land in Scotland has been thrust back on to the political agenda by the publication of the land reform bill, which was introduced to the Scottish parliament on Tuesday. Covering topics as diverse as tenant farming, offshore companies, deer management and common land, the bill… – Continue reading
THE publication by Parliament of the Land Reform Bill represents an important moment in the land reform debate. It is over a decade since the last one and in that time many long-standing issues have been neglected. The Scottish Government’s Land Reform Review Group, however, put land back on the… – Continue reading
The UK tax system is about to experience one of its biggest ever upheavals. From April 2016, there could be two tax jurisdictions for income tax for the first time. We can’t definitively say what will happen yet, because the current Scotland Bill is still subject to negotiation – and… – Continue reading
AN alliance of SNP and rightwing Tory MPs failed last night to give Scotland full fiscal autonomy and introduce tax competition in the United Kingdom. SNP MPs agreed to back an amendment by Tory grandee Sir Edward Leigh, if he pushed it to a vote, which would have given Holyrood… – Continue reading
THE North-East is becoming a “dustbin” for Scottish rubbish because of devolution, one of the region’s MPs has warned. Kevan Jones, the North Durham MP, said a “commendable” Scottish initiative to boost recycling had backfired by sending waste across the border instead, sometimes illegally. And he warned the problem was… – Continue reading
FOCUS: Now that the first devolved Scottish taxes have come into force, the rest of the UK will be watching with interest to see how new tax authority Revenue Scotland manages and deals with avoidance risks. Much of this interest will be on how the new Scottish General Anti-Avoidance Rule… – Continue reading
The Conservative majority alongside a nationalist landslide in Scotland reopened the question of powers for the Scottish government, raising the prospect that the Tories might offer Edinburgh full control over taxes and domestic expenditure. The first signs of a radical new settlement emerged on Friday when Boris Johnson, the London… – Continue reading
Most people have heard of the Organisation for Economic Co-operation and Development (OECD) and are probably aware it wants to make the world a “better” place. Its work is probably of little interest to most companies based in the UK. But this would change if constitutional arrangements between Scotland and… – Continue reading
SCOTTISH Nationalist MPs could help force up taxes at English airports unless their Westminster voting rights are curbed, David Cameron claimed yesterday (Friday, April 24). The prime minister raised the prospect of the Edinburgh Parliament slashing air passenger duty (APD) in Scotland, then its MPs voting with Labour to widen… – Continue reading
Introduction Soft commodity prices, divergent monetary policies across major economies, high unemployment rates and weak world trade have all conspired to slow down global economic recovery over the past seven years. Consequently, governments have had to cut spending as future revenues remain uncertain. This has led governments to look for… – Continue reading
Swiss banks, for decades the bastions of secrecy, are preaching the virtue of transparency to their U.S. clients as they try to head off billions of dollars in potential fines for helping Americans evade taxes. Faced with the threat of penalties that could bankrupt some of them, almost 100 of… – Continue reading
Enterprise minister Nick Boles says big corporations are ‘taking the mickey’ and Labour’s Chuka Umunna said the issue makes his constituents ‘very angry indeed’ A senior Conservative MP has advised businesses and accountants to check whether their tax policies are ethical by asking an NHS nurse. The enterprise minister Nick… – Continue reading
The SNP’s much-vaunted plan for full fiscal autonomy would land Scotland with more austerity, not less, writes Peter Jones More and more, the SNP’s plans for Scotland to achieve full fiscal autonomy are looking ridiculous (contradictions abound everywhere), dangerous(savage cuts in public spending would be inevitable) and unworkable (gaps cannot… – Continue reading
Scottish Government must work closely with councils to ensure devolution of taxation powers to Scotland brings tax and welfare systems together, according to experts. The Chartered Institute of Taxation (CIOT) also warned draft legislation could have ‘unintended complexities’, leading to double taxation on foreign income and forcing more Scottish taxpayers… – Continue reading
Prime minister David Cameron has conceded that there will be “unfair tax competition” for airports in the north-east of England if Scotland abolishes Air Passenger Duty. He reportedly said that a lower APD rate in the region is a “positive suggestion” and that “we will do what’s necessary to make… – Continue reading
European bank shares showed notable improvements in prices last week, benefiting from hopes of Greece evading a crisis coupled with continued strength in the U.S. dollar. Reports that Germany is looking to adopt a new law that will boost the capital position of the country’s banks helped Deutsche Bank (NYSE:DB)… – Continue reading
It is a peculiar feature of devolution in the United Kingdom that each nation is treated differently, with its own settlement geared to local political demands. Foreign observers look with puzzlement, seeing it as British pragmatism taken to extremes. Yet, whether by chance or design, devolution does seem to occur… – Continue reading
Prime Minister David Cameron has admitted the north-east will be adversely affected by “unfair tax competition” if Scotland abolishes APD. Air passenger duty was introduced on November 1, 1994 and has since increased seven-fold — more than 3.5 times the rate of inflation — and is the highest aviation tax… – Continue reading
British people and expats with accounts with international banks in the Channel Island of Jersey are facing confusion over a global clampdown on tax avoidance and money laundering. The move is a result of a series of high profile cases in which banks have been investigated over allegations that offshore… – Continue reading
LEGISLATION is needed to make multinationals pay their fair share if we are to help more people out of poverty, writes Jamie Livingstone. In the run-up to the General Election, Oxfam is urging politicians from all parties to commit to the introduction of a new Tax Dodging Bill within the… – Continue reading
NICOLA Sturgeon is currently the most impressive political leader in the United Kingdom. Last week, in TV interviews with Jeremy Paxman, David Cameron looked stiff and out of touch; Ed Miliband looked callow and desperate. Yesterday in Glasgow, giving her keynote speech to the SNP spring conference, Sturgeon was poised,… – Continue reading
A local authority has used a tax avoidance scheme to finance the upgrade of its offices. Clackmannanshire Council in central Scotland, jointly run by the SNP and Labour, saved £2.8million on the work, but the ruse may have cost the Treasury £3.6million in lost income tax receipts. The scheme used… – Continue reading
(Bloomberg) — Royal Bank of Scotland Group Plc agreed to sell its Coutts International private banking business to Switzerland’s Union Bancaire Privee, as the bailed-out British lender retreats from the Swiss wealth market. RBS is expected to sell Coutts for 350 million francs ($360 million) to 400 million francs, depending… – Continue reading
The Budget is one of the set-piece dramas of British political life. Yet every Chancellor of the Exchequer, every year, adds greater complexity to Britain’s tax system. This in turn muddies the grey areas of tax avoidance. With more than 1,000 tax reliefs and exemptions forming a part of a… – Continue reading
Jim Murphy says cash freed up by abolishing bedroom tax in UK would be used to end reliance on food banks Jim Murphy has pledged to set up a £175m “anti-poverty fund” in Scotland using cash freed up by abolishing the bedroom tax in the UK, in a fresh attempt… – Continue reading
TAXES will be cut to protect vulnerable North-East airports if Scotland carries its pledge to cut charges, David Cameron pledges today (Friday, March 20). Speaking to The Northern Echo, the Prime Minister vowed that – if re-elected – he will not allow “unfair tax competition” that would hurt Newcastle and… – Continue reading
Scotland is running at a loss. And you’d be forgiven for also being at a loss about the conflicting use of statistics over just how much it’s in the red, or how badly. You can emphasise that tax paid in Scotland, and from its offshore oil and gas, was £400… – Continue reading
Prime Minister David Cameron has said he hopes Scottish devolution settlement will be lasting, but professors warn it may already need to be reviewed Academics in Scotland have warned that devolving tax powers could see this region’s rich residents moving north of the border. And with the possibility that giving… – Continue reading
Today, the Scottish government revised its new Land and Building Transaction Tax (LBTT) rules. The LBTT is to replace stamp duty in Scotland from April, and its rates had been designed to be oddly punitive for those buying high-end houses. Anyone buying a house costing more than £250,000 was to… – Continue reading
Chancellor George Osborne told MPs that allowing Scotland to vary air passenger duty could cost Newcastle 450,000 passengers Chancellor George Osborne has warned that Newcastle International Airport could lose 450,000 passengers if the region is made a guinea pig for air tax reform. Speaking to the Treasury Select Committee Mr… – Continue reading
Chancellor George Osborne has told MPs that new powers being handed to Scotland could result in a UK-wide competition over tax rates. The Tory minister was giving evidence to the Treasury select committee which is examining the Smith Commission plan. Mr Osborne said it would be up to Scotland to… – Continue reading
Non-doms would only have to have a father born in Scotland, expert warns Status only worthwhile for those with assets worth several million Scottish independence could see thousands of wealthy people start to claim ‘non-domicile’ tax status, experts predict. Mark Davies, a tax expert at website Nondom, said: ‘To claim… – Continue reading
David Glen, head of tax at PricewaterhouseCoopers in Scotland, analyses the effects independence will have on Scottish taxes. While it is obvious that a Yes vote will result in substantial change to the tax system, as Scotland begins to develop its own independent tax regime, perhaps what is less clear… – Continue reading
Legislation which will establish and govern Scotland’s first tax collection system in 300 years has been passed by the Scottish Legislation which will establish and govern Scotland’s first tax collection system in 300 years has been passed by the Scottish Parliament.21 Aug 2014 The Revenue Scotland and Tax Powers Bill… – Continue reading
Legislation which will establish Scotland’s first tax collection system for 300 years will be approved today by Holyrood. MSPs are expected to pass a bill from the Scottish Government which will set up Revenue Scotland – the new body which will collect two newly-devolved taxes. Finance Secretary John Swinney said… – Continue reading
