Annual Report and Accounts 2019/20 - Devolved Taxes Accounts
Foreword
Welcome to the Revenue Scotland Annual Report and Accounts for the Devolved Taxes for 2019-20. This is the fifth reporting year since the organisation began its operational activity in April 2015, and also the second reporting period of Revenue Scotland's 2018-21 corporate planning period.
Scottish Landfill Tax
Scottish Landfill Tax (SLfT) is paid on the disposal or unauthorised disposal of waste to landfill and is charged by weight.
Land and Buildings Transaction Tax
LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial properties and commercial leases) where a chargeable interest is acquired.
Guidance for devolved taxes
Find out information about Land and Buildings Transaction Tax (LBTT), Scottish Landfill Tax (SLfT), future devolved taxes, legislative and practical tax guidance.
Annual Summary of Trends in the Devolved Taxes 2019-20
Revenue Scotland has today published its ‘Annual Summary of Trends in the Devolved Taxes 2019-20’. This comprehensive report gives an insight into the performance trends of Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT) since tax operations began in April 2015.
Key points from the publication highlight that:
Revenue Scotland - Chair recruitment exercise
The recruitment exercise for the next Chair of Revenue Scotland has launched today (Monday 7 December). The appointment is for an initial 3 years, with the potential for reappointment to a total of no more than 8 years. A candidate information pack and instructions on how to apply is available on the Scottish Government Public Appointments website.
Revenue Scotland publishes Annual Reports and Accounts 2019-20
26 November 2020
Revenue Scotland has today (26 November) published its Annual Reports and Accounts 2019-20.
New Land and Buildings Transaction Tax (LBTT) nil rate band
15 July 2020
The ‘Land and Buildings Transaction Tax (Tax Rates and Tax Bands)(Scotland) Amendment (No.2) (Coronavirus) Order 2020’ has now been approved by the Scottish Parliament and came into effect on 15 July 2020. As a result, there will be a temporary increase in the nil rate band for LBTT residential property transactions from £145,000 to £250,000.
The change will be introduced with effect from Wednesday 15 July 2020 and remain in place until 31 March 2021.
LBTT: temporary increase in nil rate band
10 July 2020
Finance Secretary Kate Forbes announced today (10 July) that a temporary increase in the nil rate band for LBTT residential property transactions from £145,000 to £250,000 will be introduced with effect from next Wednesday (15 July) and remain in place until 31 March 2021.
The revised rates and bands will only apply to transactions with an effective date on or after 15 July 2020.
Rates for the Additional Dwelling Supplement (ADS) and non-residential LBTT remain unchanged.