Tax Law

Withdrawal of extra-statutory concessions

HMRC would like to gather evidence from those who have relevant data about the potential impact of withdrawing the following three ESCs:

  • Employment Income Manual 03002 - Professional remuneration (Income Tax)
  • Sports Testimonials (Income Tax)
  • D45 Capital Gains Tax: roll-over into depreciating assets (Capital Gains Tax)


Revenue Scotland Charter

Revenue Scotland will consult on and publish a Charter of standards and values.  The Society responded to their discussion paper.

Extra-statutory concessions: seventh technical consultation on draft legislation

HMRC would like to hear from those who have comments on whether the draft legislation maintains the purpose and effect of the following ESCs:

  1. D40: Non-resident trusts: definition of participator (Capital Gains Tax)
  2. F15: Woodlands (Inheritance Tax)

Inquiry into the devolution of further fiscal powers - call for evidence

The Smith Commission is currently considering what further powers should be devolved to the Scottish Parliament.  The Finance Committee has agreed to contribute to this debate by conducting an inquiry examining the options for the devolution of further financial powers to the Scottish Parliament and the impact of such powers on the block grant

Inheritance Tax: exemption for emergency service personnel

A consultation on extending the Inheritance Tax exemption for armed forces personnel to all emergency service personnel who die in the line of duty.

Tackling offshore tax evasion: A new criminal offence

HMRC is seeking views on a new strict liability criminal offence of failing to declare taxable offshore income and gains.

Tackling offshore tax evasion: Strengthening civil deterrents

HMRC is seeking views on options to strengthen civil sanctions for those evading tax by hiding taxable income, gains and assets offshore.

Land and Buildings Transaction Tax: A Consultation on Proposed Sub-Sale Development Relief

The Scottish Government is seeking views as to whether the LBTT Act should be amended to allow relief from LBTT for one of the land transactions in a “sub-sale” where there is significant development or redevelopment of the land or buildings in question.

Inheritance tax: A fairer way of calculating trust charges

Legislation on the alignment of payment and filing dates and the treatment of retained income is included in Finance Bill 2014. This consultation focuses on changes to the way IHT trust charges are calculated and it also sets out proposals for the treatment of the nil-rate band where the settlor makes a number of settlements.

Moving Forward with Land and Buildings Transaction Tax: A Consultation on Proposed Subordinate Legislation

This consultation seeks views on draft subordinate legislation which the Scottish Government plans to bring forward to the Scottish Parliament under the powers in the Land and Buildings Transaction Tax (Scotland) Act 2013. Land and Buildings Transaction Tax is designed to replace UK Stamp Duty Land Tax in Scotland and it is expected that it will apply to land transactions taking place on or after 1 April 2015.