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LBTT
Land and Buildings Transaction Tax (LBTT) is a property tax in Scotland. It replaced the Stamp Duty Land Tax from 1 April 2015. LBTT is a tax applied to residential and commercial land and buildings transactions (including commercial purchases and commercial leases) where a chargeable interest is acquired. Under the Land and Buildings Transaction Tax (Scotland) Act 2013, a land transaction must be notified to Revenue Scotland unless it falls within one of the exempt categories contained in the Act. Revenue Scotland administers and collects LBTT with support from Registers of Scotland. Overview LBTT is usually paid by the solicitor on behalf of the buyer, as part of the administrative process to complete the conveyancing transaction, although final responsibility lies with the buyer. Submitting an LBTT return and making arrangements to pay the LBTT due is a prerequisite to applying for registration of title. LBTT is a progressive tax, with its structure designed so that the char ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Tax
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or Wealth tax, net wealth, taxes on the change of ownership of property through Inheritance tax, inheritance or Gift tax, gift and Financial transaction tax, taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other Region, geographical region, or a Local government, municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Revenue Scotland
Revenue Scotland () is a non-ministerial office of the Scottish Government responsible for the administration and collection of devolved taxes in Scotland. It is accountable to the Scottish Parliament. History Prior to 1707, Scotland was an independent state with its own system of taxation. This was abolished following the Union with England, and since then most taxes in Scotland had been collected by the UK Government. Revenue Scotland was formed in 2012 as an administrative unit of the Scottish Government, in anticipation of it becoming responsible for collecting taxes devolved to the Scottish Parliament under the terms of the Scotland Act 2012.The Revenue Scotland and Tax Powers Act (RSTPA) 2014 which established the legal basis for the operation of Revenue Scotland, was passed by the Scott ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Property Taxes
A property tax (whose rate is expressed as a percentage or per mille, also called ''millage'') is an ad valorem tax on the value of a property.In the OECD classification scheme, tax on property includes "taxes on immovable property or net wealth, taxes on the change of ownership of property through inheritance or gift and taxes on financial and capital transactions" (see: ), but this article only covers taxes on realty. The tax is levied by the governing authority of the jurisdiction in which the property is located. This can be a national government, a federated state, a county or other geographical region, or a municipality. Multiple jurisdictions may tax the same property. Often a property tax is levied on real estate. It may be imposed annually or at the time of a real estate transaction, such as in real estate transfer tax. This tax can be contrasted with a rent tax, which is based on rental income or imputed rent, and a land value tax, which is a levy on the v ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stamp Duty Land Tax
Stamp duty in the United Kingdom is a form of tax charged on legal instruments (written documents), and historically required a physical stamp to be attached to or impressed upon the document in question. The more modern versions of the tax no longer require a physical stamp. History of UK stamp duties Stamp duty was first introduced in England on 28 June 1694, during the reign of William III and Mary II, under "An act for granting to their Majesties several duties upon vellum, parchment and paper, for four years, towards carrying on the war against France". Dagnall, H. (1994) ''Creating a Good Impression: three hundred years of The Stamp Office and stamp duties.'' London: HMSO, p. 3. In the 1702/03 financial year 3,932,933 stamps were embossed in England for a total value of £91,206.10s.4d. Stamp duty was so successful that it continues to this day through a series of Stamp Acts. Similar duties have been levied in the Netherlands, France and elsewhere. During the 18th ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scottish Budget
The Scottish Government budget is an annual Act of the Scottish Parliament, giving statutory authority to the Scottish Government for its revenue and expenditure plans. For the financial year 2024/25 the budget was approximately £59.7 billion. The Scottish Government Budget Bill is presented to Parliament by the Cabinet Secretary for Finance. The current Cabinet Secretary for Finance is Shona Robison who was appointed to the role in March 2023. Purpose The Scottish Government is ultimately accountable to the members of the Scottish Parliament and to the Scottish public for its use of public money and how its spending is allocated. The Scottish Government allocates funding for areas which include schools, hospitals, policing, certain social security benefits, the economy, climate change and the environment, amongst others, from the Scottish budget. The Scottish budget is primarily funded via the Scottish block grant as well as revenue from devolved taxes. An agreement betwee ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
2015 Introductions
Fifteen or 15 may refer to: *15 (number) *one of the years 15 BC, AD 15, 1915, 2015 Music *Fifteen (band), a punk rock band Albums * 15 (Buckcherry album), ''15'' (Buckcherry album), 2005 * 15 (Ani Lorak album), ''15'' (Ani Lorak album), 2007 * 15 (Phatfish album), ''15'' (Phatfish album), 2008 * 15 (Tuki album), ''15'' (Tuki album), 2025 * 15 (mixtape), ''15'' (mixtape), a 2018 mixtape by Bhad Bhabie * Fifteen (Green River Ordinance album), ''Fifteen'' (Green River Ordinance album), 2016 * Fifteen (The Wailin' Jennys album), ''Fifteen'' (The Wailin' Jennys album), 2017 * ''Fifteen'', a 2012 album by Colin James Songs *Fifteen (song), "Fifteen" (song), a 2008 song by Taylor Swift *"Fifteen", a song by Harry Belafonte from the album ''Love Is a Gentle Thing'' *"15", a song by Rilo Kiley from the album ''Under the Blacklight'' *"15", a song by Marilyn Manson from the album ''The High End of Low'' Other media *15 (film), ''15'' (film), a 2003 Singaporean film *Fifteen (T ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Housing In Scotland
Housing in Scotland includes all forms of built habitation in what is now Scotland, from the earliest period of human occupation to the present day. The oldest house in Scotland dates from the Mesolithic era. In the Neolithic era settled farming led to the construction of the first stone houses. There is also evidence from this period of large Neolithic long house, timber halls. In the Bronze Age there were cellular round crannogs (built on artificial islands) and hillforts that enclosed large settlements. In the Iron Age cellular houses begin to be replaced on the northern isles by simple Atlantic roundhouses, substantial circular buildings with a drystone construction. The largest constructions that date from this era are the circular brochs and dun (fortification), duns and wheelhouse (archaeology), wheelhouses. After the First World War, the government responded to urban deprivation with a massive programme of council house building. Many were on Greenfield land, greenfie ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Taxation In Scotland
Taxation in Scotland today involves payments that are required to be made to three different levels of government: to the UK government, to the Scottish Government and to local government. Currently 32.4% of taxation collected in Scotland is in the form of taxes under the control of the Scottish parliament and 67.6% of all taxation collected in Scotland is reserved to the UK Parliament. History Until the 17th century, taxation was regarded as 'an extraordinary source of revenue that was levied for a specific purpose such as the defence of the realm'. However, during the 17th century, Parliament permitted a Land Tax to be collected from 1667, a Hearth tax from 1691 to 1695 and a Poll tax from 1693 to 1699. The 1707 Union of the Kingdom of Scotland with the Kingdom of England formed a new Kingdom of Great Britain, so that responsibility for taxation in Scotland became a matter for the Westminster Parliament, now the legislature for the new state. Devolution of tax powers The ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Renting
Renting, also known as hiring or letting, is an agreement where a payment is made for the use of a good, service or property owned by another over a fixed period of time. To maintain such an agreement, a rental agreement (or lease) is signed to establish the roles and expectations of both the tenant and landlord. There are many different types of leases. The type and terms of a lease are decided by the landlord and agreed upon by the renting tenant. History Various types of rent are referenced in Roman law: rent (''canon'') under the long leasehold tenure of Emphyteusis; rent (''reditus'') of a farm; ground-rent (''solarium''); rent of state lands (''vectigal''); and the annual rent (''prensio'') payable for the ''jus superficiarum'' or right to the perpetual enjoyment of anything built on the surface of land. Reasons for renting There are many possible reasons for renting instead of buying, for example: *In many jurisdictions (including India, Spain, Australia, Unit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lease
A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial or business equipment are also leased. In essence, a lease agreement is a contract between two parties: the lessor and the lessee. The lessor is the legal owner of the asset, while the lessee obtains the right to use the asset in return for regular rental payments. The lessee also agrees to abide by various conditions regarding their use of the property or equipment. For example, a person leasing a car may agree to the condition that the car will only be used for personal use. The term rental agreement can refer to two kinds of leases: * A lease in which the asset is tangible property. Here, the user '' rents'' the asset (e.g. land or goods) ''let out'' or ''rented out'' by the owner (the verb ''to lease'' is less precise because it c ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
The National (Scotland)
''The National'' is a Scottish daily newspaper owned by Newsquest. It began publication on 24 November 2014, and was the first daily newspaper in Scotland to support Scottish independence. Launched as a response to calls from Newsquest's readership for a pro-independence paper in the wake of the 2014 Scottish independence referendum, it is a sister paper of '' The Herald'', and is edited by Laura Webster. Initially published on weekdays, a Saturday edition was added in May 2015. ''The National'' is printed in tabloid format, and is also available via online subscription. Details of its launch were announced on 21 November, with further information given at a Scottish National Party (SNP) rally the following day. Upon its launch, ''The National'' stated that it is a separate entity from the Scottish National Party. It was launched on a five-day trial basis against the backdrop of a general decline in newspaper sales, with an initial print-run of 60,000 copies for its first edit ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Scottish Parliament
The Scottish Parliament ( ; ) is the Devolution in the United Kingdom, devolved, unicameral legislature of Scotland. It is located in the Holyrood, Edinburgh, Holyrood area of Edinburgh, and is frequently referred to by the metonym 'Holyrood'. It is a democratically elected body and its role is to scrutinise the Scottish Government and legislate on devolved matters that are not Devolved, reserved and excepted matters, reserved to the Parliament of the United Kingdom. The Scottish Parliament comprises 129 members known as Members of the Scottish Parliament (MSPs), elected for five-year terms under the regionalised form of Additional-member system (MMP): 73 MSPs represent individual geographical Scottish Parliament constituencies and regions, constituencies elected by the Plurality voting system, plurality (first-past-the-post) system, while a further 56 are returned as list members from eight Additional-member system, additional member regions. Each region elects seven party-lis ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
