Tax Information

Republic of Ireland - Budget 2015

Our Irish member firm O'Gradys, has issued a paper giving details of the Budget 2015 - please click here to read

October 2014 - Scotland - tax changes

Even though Scotland voted against becoming independent from the rest of the United Kingdon in the September 2014 referendum, some tax powers had been transferred from London to Scotland. Stamp Duty Land Tax (SDLT) will be replaced as from 1st April 2015 by Land & Buildings Transaction Tax (LBTT) , with different rates for residential proeprty and non-residential property. Non- residential proeprty transactions will ahev a top rate of 4.5% (compared with a top rate of 4% for the rest of UK), with each slice of value being taxed at the appropriate rate, rather than a single rate on the whole value. Any residential property that changes hands for over £325,000 will attract higher tax under LBTT than under SDLT - this is likely to see a significant rise in higher value transcations for residential proeprties being carried out before 1st April 2015 so as to have the benefit of lower rates for residential property under the current stamp duty land tax regime. Some income tax powers will also be devoled as from April 2016, with a restriction that any upward or downward variation from the rest of the UK tax rates must be uniform across all tax bands. For more information, please contact Ken Gerber -