Appendix B
Comparison of Published Statistics with Revenue Scotland’s Annual Report and Financial Statements
The purpose of this appendix is to explain how Revenue Scotland’s monthly LBTT statistics, quarterly SLfT statistics and annual statistics (this publication) relate to the revenue figures that appear in the Devolved Taxes Account in Revenue Scotland’s Annual Report and Financial Statements (referred to in this annex as the ‘Annual Report’), as the figures are produced on a different basis.
Appendix A
Date of submission versus effective date
The purpose of this appendix is to explain the basis on which Revenue Scotland’s LBTT statistics are produced, and to demonstrate that data based on the date of submission is similar in value and trend to data on an effective date18 basis, except at the ends of time series and near policy changes.
Scottish Landfill Tax (SLfT)
Scottish Landfill Tax (SLfT) is a tax on the disposal of waste to a landfill in Scotland, whether or not to an authorised landfill site. SLfT applies to all taxable disposals made in Scotland on or after 1 April 2015.
SLfT also applies to the prescribed landfill activities relating to the use of material on site that are listed in the Scottish Landfill Tax (Prescribed Landfill Site Activities) Order 2014.
http://www.legislation.gov.uk/ssi/2014/367/made
For more information about SLfT, please see the relevant sections on our website.
Land and Buildings Transaction Tax
Land and Buildings Transaction Tax (LBTT) came into effect on 1 April 2015. It is a replacement for the UK Stamp Duty and Land Tax (SDLT) which ceased to apply in Scotland on the same date. LBTT is administered by Revenue Scotland.
Introduction
Revenue Scotland is responsible for the management and collection of Scotland’s devolved taxes – currently Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax (SLfT).
Revenue Scotland began tax collection operations on 1 April 2015.
Revenue Scotland operates according to Adam Smith’s principles of taxation to ensure equity, certainty, convenience and efficiency in administering and managing devolved taxes.
The four principles are:
Revenue Scotland Amends Interest Rates in Line with Bank of England Rate
22 December 2021
On 16 December 2021, the Bank of England announced a 0.15% increase in the base interest rate (now 0.25%). Revenue Scotland has amended its rates accordingly and these will take effect from Wednesday 22 December 2021.
Summary Financial Data
Devolved Taxes 2015-2021
| 2015-16 £’000 | 2016-17 £’000 | 2017-18 £’000 | 2018-19 £’000 | 2019-20 £’000 | 2020-21 £’000 | |
|---|---|---|---|---|---|---|
| LBTT | 424,874 | 483,598 | 557,267 | 554,185 | 597,368 | 517,354 |
| SLfT | 147,045 | 149,098 | 147,984 | 148,517 | 118,959 | 106,528 |
| Penalties and Interest | 311 | 342 |
Financial Statements 2020-21
Statement of Comprehensive Net Expenditure
For the Year Ended 31 March 2021
Independent Auditor's Report
Independent auditor's report to Revenue Scotland, the Auditor General for Scotland and the Scottish Parliament
Report on the audit of the financial statements
Opinion on financial statements
Accountability Report 2020-21
Corporate Governance Report
The Directors’ Report
Revenue Scotland Board 2020-21
In line with paragraph 1 of Schedule 1 to the RSTPA, the Scottish Ministers are responsible for appointing between five and nine individuals to be members of the Revenue Scotland Board. One individual is appointed by Ministers as Chair.