THE CONSERVATIVES are set to offer Edinburgh full control of all income tax should voters reject Scottish independence in September’s referendum.
The government is expected to publish a review of which powers should be devolved to Holyrood in the case of a ‘no’ vote, City AM reports.
Both Labour and the Liberal Democrats plan to afford Scotland greater control should they win the next election, and the Conservatives intend to follow suit.
Lord Strathclyde, who led the review of Scotland’s tax powers is said to call for Holyrood to be given responsibility for 40% of the revenue it spends.
Already stamp duty land tax and limited income tax powers were due to be devolved to the Scottish parliament following the Scotland Act 2012. Following that announcement, it emerged Holyrood intended to establish its own tax agency called Revenue Scotland, with the claim the new body “would serve the needs of the people of Scotland at a lower cost than the UK set-up”.
In other news, UKIP leader Nigel Farage pledged to slash the top rate of tax to 40p. He told the BBC‘s Andrew Marr he would drop the top rate from 45p to 40p.
Colin imagines how Apple's logo might change in the wake of the EC's ruling over its Irish tax arrangements
A ruling from the European Commission could force Apple to pay billions of euros in back taxes over the company’s tax arrangements with the Irish government
HMRC has outlined a change in VAT policy to the treatment of dwellings that have been formed from either the construction of new buildings, or from the conversion of non-residential buildings
Let us hope that valuable asset protection vehicles are not made prohibitively burdensome or abolished in the desire to “simplify” IHT