25 March 2020
On 19 March 2020, the Bank of England announced a 0.15% decrease in the base interest rate (now 0.10%). Revenue Scotland has amended its rates accordingly and these will take effect from Wednesday, 25 March 2020.
17 March 2020
Revenue Scotland continues to closely monitor the developing COVID-19 situation. At present our operating hours remain as normal.
Further updates regarding any changes to this will be provided through the Revenue Scotland website and Twitter.
17 March 2020
On 11 March 2020 , the Bank of England announced a 0.5% decrease in the base interest rate (now 0.25%). Revenue Scotland has amended its rates accordingly and these will take effect from Tuesday, 17 March 2020.
13 March 2020
Revenue Scotland has today (13 March 2020) launched a consultation on its Draft Equality Outcomes for 2020-24, outlining how the organisation will strengthen equalities in its operations both as a public service provider and employer.
The Minister for Public Finance and the Digital Economy, Kate Forbes MSP, has proposed changes to LBTT rates and bands for lease transactions. The changes, announced in her Budget statement to Parliament today (6 February 2020), will take effect from 7 February 2020.
The proposals introduce a new rate of 2% payable where the net present value (NPV) of the rent payable under the lease is above £2 million. The revised rates and bands are:
24 January 2020
The City of Edinburgh has accounted for between 30 and 33 percent of residential Land and Buildings Transaction Tax (LBTT) excluding Additional Dwelling Supplement (ADS) declared due in Scotland every year since collection of the fully devolved tax began.
Since April 2015, the Scottish capital has seen LBTT (excluding ADS) declared due from residential sales at more than three times that of other local authorities, with no other region accounting for more than 9 percent in any one year.
2 October 2019
Scotland’s tax authority raised revenue of £706m in Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT) in 2018-19, bringing the total since 2015 to over £2.5bn.
And Revenue Scotland’s continued focus on compliance raised an additional £1.03m over the 12-month reporting period.
The figures were revealed in the tax authority’s 2018-19 Annual Report and Accounts which were published today (Wednesday 2 October).
Revenue Scotland’s Chief Executive, Elaine Lorimer, has won ‘CEO of the Year’ at the Scottish Women’s Awards 2019 held in Glasgow on 28 August 2019.
Ms Lorimer, who has led the Scottish tax authority for three years, has 20 years of experience working at senior management and board level in the civil service in London and local government in Scotland. She is also a qualified lawyer and public finance accountant and previously served as the Chief Executive of the Law Commission of England and Wales, a statutory body charged with promoting law reform.