Revenue Scotland collected over £630 million in devolved taxes during 2016/17, according to the latest report and accounts. This is £61 million more than in 2015/16.
Revenue Scotland collected over £630 million in devolved taxes during 2016/17, according to the latest report and accounts. This is £61 million more than in 2015/16. The total transferred to the Scottish consolidated fund since April 2015, when land and buildings transaction tax (LBTT) and Scottish landfill tax (SLfT) came into effect, stands at £1.15 billion.
Among other performance figures, the report shows 98.8% of tax returns were submitted online, with more than 93% of tax payments made on time. The overall figure for 2016/17 included £342,000 in penalties and interest.
The CIOT welcomed a ‘robust performance’, but commented that the £484 million generated from LBTT between 2015/16 and 2016/17 was £54.4 million less than the Scottish government’s own forecasts.
Scottish landfill tax, on the other hand, generated £149 million, which was £16 million more than forecast.
Moira Kelly, chair of the CIOT Scotland technical committee, noted ‘an almost across the board upturn in the organisation’s performance, with more tax collected, increased compliance and enforcement activity and more and more people submitting their returns online and on time’. However, in relation to LBTT, she said that the figures, ‘are likely to fuel further concerns relating to the vulnerability of LBTT receipts and the potential impact that this may have on future Scottish budgets’.
The Scottish government has announced it will publish its draft Budget for 2018/19 on 14 December.
Revenue Scotland collected over £630 million in devolved taxes during 2016/17, according to the latest report and accounts. This is £61 million more than in 2015/16.
Revenue Scotland collected over £630 million in devolved taxes during 2016/17, according to the latest report and accounts. This is £61 million more than in 2015/16. The total transferred to the Scottish consolidated fund since April 2015, when land and buildings transaction tax (LBTT) and Scottish landfill tax (SLfT) came into effect, stands at £1.15 billion.
Among other performance figures, the report shows 98.8% of tax returns were submitted online, with more than 93% of tax payments made on time. The overall figure for 2016/17 included £342,000 in penalties and interest.
The CIOT welcomed a ‘robust performance’, but commented that the £484 million generated from LBTT between 2015/16 and 2016/17 was £54.4 million less than the Scottish government’s own forecasts.
Scottish landfill tax, on the other hand, generated £149 million, which was £16 million more than forecast.
Moira Kelly, chair of the CIOT Scotland technical committee, noted ‘an almost across the board upturn in the organisation’s performance, with more tax collected, increased compliance and enforcement activity and more and more people submitting their returns online and on time’. However, in relation to LBTT, she said that the figures, ‘are likely to fuel further concerns relating to the vulnerability of LBTT receipts and the potential impact that this may have on future Scottish budgets’.
The Scottish government has announced it will publish its draft Budget for 2018/19 on 14 December.
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