TaxCorporate TaxSNP manifesto in tune with Labour on tax

SNP manifesto in tune with Labour on tax

SNP and Labour share significant amount in common on taxation, advisers claim

SNP manifesto in tune with Labour on tax

THE TAX POLICIES contained in the Scottish National Party’s manifesto are closely aligned to Labour’s own manifesto pledges, advisers have noted.

In particular, the two parties have a tax on bankers’ bonuses, a bank levy, a mansion tax, a crackdown on tax avoidance, the abolition of non-domicile status and the reversal of the married couple’s tax allowance in common.

On National Insurance Contributions, the SNP will increase the annual reduction for businesses gradually to £6,000 – up from £2,000 – which would allow one-man companies to make a salary payment of over £43,000 with no employer’s NIC. Currently, the Scottish government lacks powers over NIC. The SNP wants these powers devolved to Scotland.

Some warn, however, it is “not hard” to imagine a negotiation under which the SNP – led by Nicola Sturgeon (pictured) – don’t try to force through an increase for the whole of the UK in return for being given the power to control National Insurance north of the border.

“The difference is that some of these policies would be unlikely to affect large numbers of Scottish voters,” said Baker Tilly senior tax partner George Bull.

“In Scotland, the reintroduction of the 50p tax rate would only affect around 14,000 people earning over £150,000. The mansion tax, if introduced for properties worth more than £2m, might only apply to 1,000 Scottish properties. As for non-doms, one might assume there to be greater numbers in London and the south east of England.”

Related Articles

Tax planning: Don’t count on the status quo

Corporate Tax Tax planning: Don’t count on the status quo

4m Emma Smith, Managing Editor
Webinar: General Election 2017 – What happens now?

Corporate Tax Webinar: General Election 2017 – What happens now?

4m Emma Smith, Managing Editor
DUP deal: What’s likely to be on the agenda?

Corporate Tax DUP deal: What’s likely to be on the agenda?

4m Emma Smith, Managing Editor
Sturgeon drops 3% corporation tax pledge

Corporate Tax Sturgeon drops 3% corporation tax pledge

3y Chris Warmoll, Writer
Video: PBR09 – The fallout

Corporate Tax Video: PBR09 – The fallout

8y rumo, Writer
Election 2015: The parties’ tax and spend cases

Corporate Tax Election 2015: The parties’ tax and spend cases

3y Richard Crump & Calum Fuller
Leader: Election pledges shed little light on feasibility of parties' tax and spend plans

Corporate Tax Leader: Election pledges shed little light on feasibility of parties' tax and spend plans

3y Richard Crump, Writer
UKIP promises £18bn tax cuts as it launches manifesto

Corporate Tax UKIP promises £18bn tax cuts as it launches manifesto

3y Calum Fuller, Reporter