This briefing summarises the financial and non-financial provisions included in the Scotland Act 2012. Specifically it outlines the new provisions in relation to the Scottish Rate of Income Tax, the devolution of taxation on land transactions and disposals to landfill and related revenue borrowing powers. The new capital borrowing powers are also outlined. Finally, the briefing looks at the cost of administering the new provisions as well as how the block grant will be adjusted to reflect these new revenue-raising powers.
Read SPICe briefing:
Published: 04 February 2014