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The no vote in Scotland - A closer look at Tax

DWF has a strong Scottish offering and works for a number of major clients with interests in the country. From a business perspective, the issues around currency, regulatory environments and EU membership no longer need to be resolved; but clients can be reassured that DWF understands the changing situation, and can be relied on to offer solutions whatever happens with newly devolved powers.

Following on from the No vote, each of the main parties has suggested that further tax powers will be devolved to complement those already underway. Depending upon the extent of that devolution, there may, in practice, be similar issues to face to those applicable to independence with only minor differences in degree or scale.
At one end, Labour has suggested limited additional devolution to vary income tax rates by up to 15p rather than the 10p rate effective from 1 April 2016. At the other end, SNP would wish all taxes raised in Scotland to be retained there coupled with the power to set tax policy on most taxes (VAT being an exception).

If you require any further information or advice, please contact ronnie.brown@dwf.co.uk

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Scottish No Vote Tax

 

This information is intended as a general discussion surrounding the topics covered and is for guidance purposes only. It does not constitute legal advice and should not be regarded as a substitute for taking legal advice. DWF is not responsible for any activity undertaken based on this information.