So not even full powers over income tax then, despite what the MSM is trying to feed you. Direct quote from the report (that is all it is, remember): 75. Income Tax will remain a shared tax and both the UK and Scottish Parliaments will share control of Income Tax. MPs representing constituencies across the whole of the UK will continue to decide the UK’s Budget, including Income Tax. 76. Within this framework, the Scottish Parliament will have the power to set the rates of Income Tax and the thresholds at which these are paid for the non-savings and non-dividend income of Scottish taxpayers (as defined by the Scotland Acts). 77. As part of this, there will be no restrictions on the thresholds or rates the Scottish Parliament can set. All other aspects of Income Tax will remain reserved to the UK Parliament, including the imposition of the annual charge to Income Tax,the personal allowance, the taxation of savings and dividend income, the ability to introduce and amend tax reliefs and the definition of income. 78. The Scottish Government will receive all Income Tax paid by Scottish taxpayers ontheir non-savings and non-dividend income with a corresponding adjustment in the block grant received from the UK Government, in line with the funding principles set out in paragraph 95.
Posted on: Thu, 27 Nov 2014 12:01:19 +0000
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