|
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|
Scottish tax on land transactions |
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28 | Scottish tax on transactions involving interests in land |
| |
(1) | In Part 4A of the 1998 Act (as inserted by section 24), after Chapter 2 (inserted |
| |
| |
| 5 |
Tax on transactions involving interests in land |
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80I | Tax on transactions involving interests in land |
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(1) | A tax charged on any of the following transactions is a devolved tax— |
| |
(a) | the acquisition of an estate, interest, right or power in or over land in |
| |
| 10 |
(b) | the acquisition of the benefit of an obligation, restriction or condition |
| |
affecting the value of any such estate, interest, right or power. |
| |
(2) | The tax may be chargeable— |
| |
(a) | whether or not there is any instrument effecting the transaction, |
| |
(b) | if there is such an instrument, regardless of where it is executed, and |
| 15 |
(c) | regardless of where any party to the transaction is or is resident. |
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80J | Certain transactions not taxable |
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(1) | Tax may not be imposed under section 80I on so much of a transaction |
| |
as relates to land below mean low water mark. |
| |
(2) | The following persons are not to be liable to pay a tax imposed under |
| 20 |
| |
| |
| |
| |
| A Northern Ireland department |
| 25 |
| The Welsh Ministers, the First Minister for Wales and |
| |
the Counsel General to the Welsh Assembly |
| |
| |
| |
| The Corporate Officer of the House of Lords |
| 30 |
| The Corporate Officer of the House of Commons |
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| The Scottish Parliamentary Corporate Body |
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| The Northern Ireland Assembly Commission |
| |
| The National Assembly for Wales Commission |
| |
| The National Assembly for Wales.” |
| 35 |
(2) | Tax may not be charged in accordance with the provisions inserted by this |
| |
section on a land transaction within the meaning of Part 4 of the Finance Act |
| |
2003 unless section 29 (disapplication of UK stamp duty land tax) has effect in |
| |
relation to that transaction. |
| |
29 | Disapplication of UK stamp duty land tax |
| 40 |
(1) | Part 4 of the Finance Act 2003 (stamp duty land tax) is amended as follows. |
| |
|
| |
|
| |
|
(2) | In section 48 (chargeable interests), in subsection (1)(a) for “the United |
| |
Kingdom” substitute “England and Wales or Northern Ireland”. |
| |
| |
(a) | Part 1 contains further amendments relating to the disapplication of |
| |
stamp duty land tax to Scotland, and |
| 5 |
(b) | Part 2 makes provision, in consequence of the disapplication of |
| |
paragraph 1(1)(b) of Schedule 10 to the Finance Act 2003 (prescribed |
| |
information in land transaction returns) to transactions relating to land |
| |
in Scotland, about the supply of information to Her Majesty’s Revenue |
| |
| 10 |
(4) | This section has effect in relation to land transactions with an effective date on |
| |
or after such date as is appointed by the Treasury under this subsection. |
| |
(5) | But this section does not have effect in relation to any transaction— |
| |
(a) | effected in pursuance of a contract entered into and substantially |
| |
performed on or before the date on which this Act receives Royal |
| 15 |
| |
(b) | effected in pursuance of a contract entered into on or before that date |
| |
and not excluded by subsection (6). |
| |
(6) | A transaction effected in pursuance of a contract entered into on or before the |
| |
date on which this Act receives Royal Assent is excluded if— |
| 20 |
(a) | there is any variation of the contract, or assignation of rights under the |
| |
contract, after that date, |
| |
(b) | the transaction is effected in consequence of the exercise after that date |
| |
of any option, right of pre-emption or similar right, or |
| |
(c) | after that date there is an assignation, subsale or other transaction |
| 25 |
relating to the whole or part of the subject-matter of the contract as a |
| |
result of which a person other than the purchaser under the contract |
| |
becomes entitled to call for a conveyance. |
| |
Scottish tax on disposals to landfill |
| |
30 | Scottish tax on disposals to landfill |
| 30 |
(1) | In Part 4A of the 1998 Act (as inserted by section 24), after Chapter 3 (inserted |
| |
| |
| |
Tax on disposals to landfill |
| |
80K | Tax on disposals to landfill |
| 35 |
(1) | A tax charged on disposals to landfill made in Scotland is a devolved tax. |
| |
(2) | A disposal is a disposal to landfill if— |
| |
(a) | it is a disposal of material as waste, and |
| |
(b) | it is made by way of landfill.” |
| |
(2) | Tax may not be charged in accordance with the provision inserted by this |
| 40 |
section on a disposal if the disposal is made before the date appointed under |
| |
| |
|
| |
|
| |
|
31 | Disapplication of UK landfill tax |
| |
(1) | Part 3 of the Finance Act 1996 (landfill tax) is amended as follows. |
| |
(2) | In section 40(1) (charge on taxable disposal), after “taxable disposal” insert |
| |
“made in England and Wales or Northern Ireland”. |
| |
(3) | Schedule 5 contains further amendments relating to the disapplication of |
| 5 |
landfill tax to Scotland. |
| |
(4) | This section has effect in relation to disposals made on or after such date as is |
| |
appointed by the Treasury under this subsection. |
| |
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32 | Borrowing by the Scottish Ministers |
| 10 |
(1) | The 1998 Act is amended as follows. |
| |
(2) | Section 66 (borrowing by the Scottish Ministers etc) is amended as follows. |
| |
(3) | For subsection (1) substitute— |
| |
“(1) | The Scottish Ministers may borrow from the Secretary of State— |
| |
(a) | any sums required by them for the purpose of meeting a temporary |
| 15 |
excess of sums paid out of the Scottish Consolidated Fund over sums |
| |
| |
(b) | any sums required by them for the purpose of providing a working |
| |
balance in the Scottish Consolidated Fund, and |
| |
(c) | any sums which in accordance with rules determined by the Treasury |
| 20 |
are required by them to meet current expenditure because of a shortfall |
| |
in receipts from devolved taxes against forecast receipts. |
| |
(1A) | The Scottish Ministers may, with the approval of the Treasury, borrow by way |
| |
of loan any sums required by them for the purpose of meeting capital |
| |
| 25 |
(1B) | A sum is required for the purpose of meeting capital expenditure if the |
| |
expenditure would be capital expenditure for the purposes of accounts under |
| |
| |
(4) | In subsection (3) after “section” insert “from the Secretary of State”. |
| |
(5) | Section 67 (lending by the Secretary of State) is amended as follows. |
| 30 |
(6) | In subsection (2) for “that section” substitute “section 66(1)”. |
| |
(7) | In subsection (3) omit “increased”. |
| |
(8) | After subsection (3) insert— |
| |
“(3A) | An amount substituted under subsection (3) may be more or less than the |
| |
amount for which it is substituted but may not be less than £500 million.” |
| 35 |
(9) | After section 67 insert— |
| |
“67A | Lending for capital expenditure |
| |
(1) | The aggregate at any time outstanding in respect of the principal of sums |
| |
borrowed under section 66(1A) shall not exceed £2.2 billion. |
| |
|
| |
|
| |
|
(2) | The Secretary of State may by order made with the consent of the Treasury |
| |
substitute for the amount (or substituted amount) specified in subsection (1) |
| |
such amount as may be specified in the order. |
| |
(3) | An amount substituted under subsection (2) may be more or less than the |
| |
amount for which it is substituted but may not be less than £2.2 billion. |
| 5 |
(4) | A person lending money to a member of the Scottish Government is not |
| |
bound to enquire whether the member of the Scottish Government has |
| |
power to borrow the money and is not to be prejudiced by the absence |
| |
| |
(5) | The Scottish Ministers may not mortgage or charge any of their |
| 10 |
property as security for money which they have borrowed under |
| |
| |
| This is subject to section 66(2). |
| |
(6) | Security given in breach of subsection (5) is unenforceable.” |
| |
(10) | In Schedule 7 (procedure for subordinate legislation), in paragraph 1, at the |
| 15 |
appropriate place insert— |
| |
|
| |
Miscellaneous and General |
| |
| 20 |
33 | Maximum penalties which may be specified in subordinate legislation |
| |
(1) | The 1998 Act is amended as follows. |
| |
(2) | In section 113 (subordinate legislation: scope of powers), for subsection (10) |
| |
| |
“(9A) | A power may not be exercised so as to create any criminal offence |
| 25 |
punishable with any of the penalties specified for the offence in |
| |
| |
(9B) | In relation to Scotland, the specified penalties are— |
| |
(a) | where the offence is triable on summary complaint only, |
| |
imprisonment for a period exceeding 12 months and a fine |
| 30 |
exceeding the amount specified as level 5 on the standard scale, |
| |
(b) | where an offence triable either on indictment or on summary |
| |
complaint is tried on summary complaint, imprisonment for a |
| |
period exceeding 12 months and a fine exceeding the statutory |
| |
| 35 |
(c) | where the offence is tried on indictment, imprisonment for a |
| |
period exceeding two years. |
| |
(10) | In relation to England and Wales and Northern Ireland, the specified |
| |
| |
|
| |
|
| |
|
(a) | where the offence is tried summarily, imprisonment for a |
| |
period exceeding three months and a fine exceeding the amount |
| |
specified as level 5 on the standard scale, |
| |
(b) | where the offence is tried on indictment, imprisonment for a |
| |
period exceeding two years.” |
| 5 |
(3) | After subsection (11) of that section insert— |
| |
“(12) | Her Majesty may by Order in Council amend subsection (9B) or (10) so |
| |
| |
(a) | any period of imprisonment specified there, or |
| |
(b) | the amount of any fine so specified.” |
| 10 |
(4) | In Schedule 7 (procedure for subordinate legislation), in paragraph 1, at the |
| |
appropriate place insert— |
| |
|
(5) | The amendments made by paragraph 7 of Schedule 27 to the Criminal Justice |
| |
Act 2003 (alteration of maximum penalties etc) have effect (when they come |
| 15 |
into force) in relation to section 113 as amended by this section as they have |
| |
effect in relation to that section as originally enacted, except that in subsection |
| |
(10A)(c) the words “Scotland and” are omitted. |
| |
| |
| 20 |
In this Act “the 1998 Act” means the Scotland Act 1998. |
| |
35 | Power to make consequential, transitional and saving provision |
| |
(1) | The Secretary of State may by order make provision consequential on any |
| |
provision of Part 1 or 2 or section 33. |
| |
(2) | The Secretary of State may by order make transitional or saving provision in |
| 25 |
connection with the coming into force of any provision of Part 1 or 2 or section |
| |
| |
(3) | The Treasury may by order make— |
| |
(a) | provision consequential on section 29 or 31; |
| |
(b) | transitional or saving provision in connection with the coming into |
| 30 |
force of any provision of Part 3. |
| |
(4) | Provision under this section may amend, repeal or revoke an enactment passed |
| |
or made before this Act is passed. |
| |
(5) | In this section “enactment” includes an enactment contained in subordinate |
| |
legislation (within the meaning of the Interpretation Act 1978) and an |
| 35 |
enactment contained in, or in an instrument made under, an Act of the Scottish |
| |
| |
(6) | A statutory instrument containing an order under subsection (1) or (2) which |
| |
includes provision amending or repealing any provision of an Act or an Act of |
| |
|
| |
|
| |
|
the Scottish Parliament may not be made unless a draft of the instrument has |
| |
been laid before and approved by a resolution of each House of Parliament. |
| |
(7) | Any other statutory instrument containing an order under subsection (1) or (2) |
| |
is subject to annulment in pursuance of a resolution of either House of |
| |
| 5 |
(8) | A statutory instrument containing an order under subsection (3) which |
| |
includes provision amending or repealing any provision of an Act may not be |
| |
made unless a draft of the instrument has been laid before and approved by a |
| |
resolution of the House of Commons. |
| |
(9) | Any other statutory instrument containing an order under subsection (3) is |
| 10 |
subject to annulment in pursuance of a resolution of the House of Commons. |
| |
36 | Transitional provision for Scottish statutory instruments |
| |
(1) | Where by virtue of an amendment made by this Act the 1998 Act provides for |
| |
an instrument to be subject to— |
| |
(a) | the affirmative procedure specified in section 29 of the Interpretation |
| 15 |
and Legislative Reform (Scotland) Act 2010 (asp 10), or |
| |
(b) | the negative procedure specified in section 28 of that Act, |
| |
| subsection (2) applies at any time before that section comes into force. |
| |
(2) | The power to make the instrument is exercisable by Scottish statutory |
| |
| 20 |
(a) | in the case of an instrument subject to the affirmative procedure, the |
| |
instrument is not to be made unless it has been laid before and |
| |
approved by a resolution of the Scottish Parliament; |
| |
(b) | in the case of an instrument subject to the negative procedure, the |
| |
instrument is subject to annulment in pursuance of a resolution of the |
| 25 |
| |
| |
(1) | There shall be paid out of money provided by Parliament any increase attributable to |
| |
this Act in the sums payable under any other Act out of money so provided. |
| |
(2) | There shall be paid into the Consolidated Fund any sums received by a Minister of the |
| 30 |
Crown by virtue of this Act which are not payable into the National Loans Fund. |
| |
| |
(1) | The following come into force on the day on which this Act is passed— |
| |
| |
| 35 |
| |
(2) | The following provisions come into force at the end of the period of two |
| |
months beginning with the day on which this Act is passed— |
| |
| |
(b) | Part 3, except section 26(7) (and Schedule 3) and section 32. |
| 40 |
(3) | Subsection (2)(b) is subject to the provision made in the following sections as |
| |
to how those sections have effect— |
| |
|
| |