Scottish Tax Body Ready

The Scottish government claims the country's new tax agency is "ready to hit the ground running" by the start of the next financial year.

Deputy First Minister John Swinney says Revenue Scotland is ready to collect devolved taxes from April 1st.

The body will collect Land and Buildings Transaction Tax (LBTT) and Scottish Landfill Tax - the first Scottish taxes for more than 300 years.

Auditors had warned the body may not be ready in time after concerns over staffing and an IT system.

Finance Secretary Mr Swinney has now written to the UK Government confirming the agency’s readiness and asked for the necessary legislation to be laid at Westminster to “switch off” the two UK taxes in Scotland – stamp duty land tax and UK landfill tax – from April.

Mr Swinney said: staff have been working "extremely hard to implement our long-standing plans to be ready to hit the ground running on April 1st, to collect and manage the two devolved taxes.

“A group of senior Scottish and UK government officials have agreed that all necessary preparations are now in place and arrangements can now be made to introduce the devolved taxes.

“I have written to the Financial Secretary to the Treasury asking for the required orders to be laid at Westminster to allow Revenue Scotland to take the reins – effectively switching off stamp duty land tax and the UK landfill tax.

“These two new taxes are the first national taxes for Scotland in 308 years and it is important that they are administered fairly and correctly.

“Last week, I announced a revision of LBTT rates, which will mean 50 per cent of all household transactions paying no tax and more than 40,000 buyers paying less on the purchase of a new home.

“Our ultimate aim is to apply a fair tax regime to help grow the economy and increase opportunities for people. I am confident Revenue Scotland is up to that challenge.”