The Tax Committee has been particularly engaged over the past month in relation to the implementation of Land and Buildings Transaction Tax. The LBTT working group has attended a number of engagement meetings with Revenue Scotland in the past month to discuss various matters including the interpretation of sections within the Land and Buildings Transaction (Scotland) Act 2013 and the LBTT sign up process. The working group have been busy providing comments and recommendations to Revenue Scotland on the LBTT return guidance and LBTT guidance itself. Volunteers from the working group trainees/paralegals and solicitors from the professional attended a number of sessions at Victoria Quay in March to test the LBTT return system, which went live on 1 April.
The main Tax Committee has also been busy and met with HMRC representatives last month to discuss proposed tax evasion policy. Consultations have also been submitted on Draft Guidance to Extra Statutory Concessions, the proposed Revenue Scotland Charter, Tax Enquiry Closure Rules and Sanctions for Tax Avoidance. Representatives from the Tax Committee also met with UK Government officials within the Scotland Office to discuss the further tax devolution proposals.
All consultation responses can be found on our website